Four ongoing initial public offerings, including the highly anticipated National Stock Exchange (NSE) IPO, are generating considerable excitement on Dalal Street as their Grey Market Premiums (GMPs) show significant increases. These issues, which also include Hero Motors, SS Retail, and Jindal Supreme India, have seen their estimated listing prices climb, with some projecting gains up to 32%.
Strong Subscription Numbers for Ongoing IPOs
The IPO of Hero Motors recorded a subscription of 3.37 times by the second day of bidding. The issue, which opened on September 16, is set to close on Friday, September 18.
NSE's IPO attracted nearly 12 lakh applications on its first day, September 17, with bids totaling Rs 6,853.45 crore. The offering was subscribed 43%, receiving bids for 3,83,94,696 equity shares against a net offering of 8,86,42,911 equity shares.
SS Retail's IPO saw robust demand, being subscribed 5.78 times by its second day of bidding. Similarly, steel pipes and tubes manufacturer Jindal Supreme India's IPO garnered substantial interest, achieving a subscription rate of 31.50 times on its second day, September 17.
Grey Market Premium (GMP) Insights
Here’s a detailed look at the current Grey Market Premiums for these four ongoing IPOs:
- NSE IPO: With an upper price band of Rs 1,785.00, the estimated listing price for NSE IPO is Rs 1,927, indicating an expected percentage gain of 7.96%. The GMP for NSE IPO stands at Rs 142.
- Hero Motors IPO: The Grey Market Premium for Hero Motors IPO is Rs 5.5. Given an upper price band of Rs 84.00, the estimated listing price is Rs 89.5, reflecting an anticipated gain of 6.55%.
- SS Retail IPO: SS Retail's IPO commands a GMP of Rs 137. With an upper price band of Rs 424.00, the projected listing price is Rs 561, suggesting a significant expected gain of 32.31%.
- Jindal Supreme IPO: The GMP for Jindal Supreme IPO is Rs 30, which translates to an impressive 32.25% gain. Based on an upper price band of Rs 93.00, the estimated listing price is Rs 123.
Investors are advised to consult with a qualified financial advisor before making any investment decisions, as Grey Market Premiums are speculative and do not guarantee listing performance.