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Vishal Nirmiti and Nityas IPOs: GMP, Subscription and Listing Estimates
Vishal Nirmiti and Nityas Gems & Jewellery were both selling shares to the public.
Their IPOs opened on September 30 and were due to close on October 5.
By the second day, investors had requested more shares in Nityas’s offering than in Vishal Nirmiti’s.
The article reported that Vishal Nirmiti shares had a higher grey-market premium.
Based on those premiums, it estimated possible listing prices of ₹240 for Vishal Nirmiti and ₹77 for Nityas.
These were estimates, not guaranteed prices.
Allotments were expected on October 6.
Both companies were scheduled to list on October 8.
Both IPOs opened for subscription on September 30 and were due to close on October 5.
By the second bidding day, Vishal Nirmiti was subscribed 57% and Nityas Gems & Jewellery 69%.
Reported grey-market premiums were ₹20 for Vishal Nirmiti and ₹2 for Nityas Gems & Jewellery.
GMP-based estimates put potential listing prices at ₹240 for Vishal Nirmiti and ₹77 for Nityas Gems & Jewellery.
Allotments were expected to be finalised on October 6, with both companies scheduled to list on October 8.
- Who
- Vishal Nirmiti Ltd and Nityas Gems and Jewellery Ltd.
- What
- The article compares their IPO subscriptions, grey-market premiums, issue details and estimated listing prices.
- Where
- Both companies planned to list on Indian stock exchanges; Nityas specified the NSE and BSE.
- When
- The IPOs opened September 30 and were due to close October 5; allotments were expected October 6 and listings October 8. The year is not stated.
- Why
- The companies said IPO proceeds would primarily support working capital and general corporate purposes; Vishal Nirmiti also planned to repay outstanding loans.
Key facts
- Vishal Nirmiti subscription
- 57% by the close of the second bidding day
- Nityas Gems & Jewellery subscription
- 69% by the close of the second bidding day
- Vishal Nirmiti grey-market premium
- ₹20
- Nityas Gems & Jewellery grey-market premium
- ₹2
- Estimated listing prices
- ₹240 for Vishal Nirmiti, against an IPO price of ₹220; ₹77 for Nityas, against an IPO price of ₹75
- Expected allotment finalisation
- October 6
- Scheduled listing
- October 8
- Vishal Nirmiti issue size
- Approximately ₹178 crore, including a fresh issue and an offer for sale
Sources
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