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Three IPOs Open as GMPs and Subscriptions Draw Investors
Three companies opened their IPOs for investors on Tuesday, September 8.
An IPO is a way for a company to sell shares to the public.
Kanohar Electricals had a grey market premium of ₹218.
Its shares were subscribed 2.71 times on the first day.
Glass Wall Systems had a grey market premium of ₹50–60 and was subscribed 2.52 times.
Prasol Chemicals had a grey market premium of ₹45–50.
Grey market premiums are unofficial indications of what a share might be worth when it lists.
These figures are estimates and do not guarantee the actual listing price.
Kanohar Electricals’ IPO recorded a grey market premium of ₹218, implying an estimated listing price of ₹850 per share.
Kanohar Electricals was subscribed 2.71 times on day one, with retail demand at 3.31 times and NII demand at 4.88 times.
Glass Wall Systems’ GMP stood at ₹50–60, indicating an estimated listing range of ₹232–242 per share.
Glass Wall Systems was subscribed 2.52 times on day one, while its retail and NII portions were subscribed 3.75 times and 3.02 times, respectively.
Prasol Chemicals’ GMP was reported at ₹45–50, implying an estimated listing range of ₹721–726 per share.
- Who
- Kanohar Electricals, Glass Wall Systems, Prasol Chemicals, and investors in their IPOs.
- What
- The three companies opened public offerings, with reported grey market premiums and first-day subscription figures for Kanohar Electricals and Glass Wall Systems.
- Where
- India’s primary market; Kanohar Electricals is headquartered in Uttar Pradesh.
- When
- The IPOs opened on Tuesday, September 8; Glass Wall Systems’ offer is scheduled to close on September 10, 2026.
- Why
- Investors were evaluating the three ongoing IPOs using their price bands, grey market premiums, and subscription levels.
Key facts
- Kanohar Electricals price band
- ₹601–632 per share
- Kanohar Electricals IPO size
- ₹1,055 crore
- Kanohar Electricals day-one subscription
- 2.71 times
- Glass Wall Systems price band
- ₹172–182 per share
- Glass Wall Systems day-one subscription
- 2.52 times
- Glass Wall Systems GMP
- ₹50–60
- Prasol Chemicals GMP
- ₹45–50
Sources
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