1 day ago
Three Upcoming IPOs Show Diverging Grey Market Premium Signals
Three companies are planning to sell shares to the public through IPOs.
Their IPOs are scheduled to open on 8 September and close on 10 September.
The shares are proposed to be listed on 16 September.
Investors are watching grey market premiums, called GMPs, as an indication of possible listing interest.
Glass Wall Systems has a GMP of ₹35.
Prasol Chemicals has a GMP of ₹90 and has shown an upward GMP trend.
Kanohar Electricals has the highest GMP at ₹205 and has also shown an upward trend.
These figures indicate how the three IPOs are being viewed in the grey market before their public subscription.
Glass Wall Systems, Prasol Chemicals and Kanohar Electricals will open their IPOs on 8 September.
The three IPOs will remain open until 10 September and are proposed to list on 16 September.
Glass Wall Systems has a GMP of ₹35, implying an estimated listing price of ₹217, or 19.23% above its upper price band.
Prasol Chemicals has a GMP of ₹90, implying an estimated listing price of ₹766, or 13.31% above its upper price band.
Kanohar Electricals has the highest GMP at ₹205, implying an estimated listing price of ₹837, or 32.44% above its upper price band.
- Who
- Glass Wall Systems (India) Ltd, Prasol Chemicals Ltd and Kanohar Electricals Ltd.
- What
- The three companies are launching IPOs, with grey market premiums indicating different expectations for their potential listings.
- Where
- The equity shares are proposed for listing on the BSE and NSE.
- When
- The IPOs open on 8 September, close on 10 September and are proposed to list on 16 September.
- Why
- The companies are raising funds through fresh share issues and, in part, offers for sale by existing shareholders.
More Cautious Signal
More Optimistic Signal
Glass Wall Systems GMP
More Cautious Signal
Its current GMP of ₹35 was described as suggesting a pessimistic perspective based on five-session trends, during which the GMP ranged from ₹20 to ₹65.
More Optimistic Signal
The GMP still indicated an estimated listing price of ₹217, which was 19.23% above the upper IPO price of ₹182.
Prasol Chemicals GMP
More Cautious Signal
Its GMP fluctuated widely between ₹14 and ₹165 over five sessions, showing changing expectations before the issue.
More Optimistic Signal
The current GMP of ₹90 was described as showing an upward trend and implied an estimated listing price 13.31% above the upper price band.
Kanohar Electricals GMP
More Cautious Signal
Its GMP ranged from ₹0 to ₹205 over eight sessions, indicating that expectations varied during the period.
More Optimistic Signal
The GMP reached ₹205 and was described as trending upward, implying an estimated listing gain of 32.44% over the upper issue price.
Key facts
- Glass Wall Systems price band
- ₹172-182 per equity share
- Glass Wall Systems issue size
- Around ₹428 crore
- Prasol Chemicals price band
- ₹643-676 per equity share
- Prasol Chemicals issue size
- ₹500 crore
- Kanohar Electricals price band
- ₹601-632 per equity share
- Kanohar Electricals issue size
- ₹1,056 crore
- Current GMP comparison
- Glass Wall Systems: ₹35; Prasol Chemicals: ₹90; Kanohar Electricals: ₹205
Sources
Related news
Glass Wall Systems Sets IPO Price Band at ₹172–₹182
Glass Wall Systems IPO Draws Broad Subscribe Calls
IPO Grey Market Premiums Signal Strong Listings Next Week
Kanohar Electricals IPO Opens With Strong GMP, Brokerages Recommend Subscription
Five IPOs Draw Strong Demand as GMP Trends Diverge
Tempsens Leads IPO Grey Market Premium Comparison Among Four Issues
Prasol Chemicals Sets ₹500-Crore IPO Price Band, Dates
Bagadia Recommends Three Stocks Under ₹100 Amid Market Caution
Indian Stocks: Value Investors Eye Companies Below Book Value
