Cyient DLM IPO: Share allotment declared. What GMP (grey market premium) signals
Cyient DLM IPO: After finalisation of share allotment, all eyes are now focussed on Cyient DLM IPO listing date, which is most likely on 10th July 2023 i.e. on Monday next week. So, those who have applied for the public issue, they can check Cyient DLM IPO allotment status online by logging in at the official BSE website or at the official website of the IPO registrar KFin Tech. for convenience, bidders can go for Cyient DLM IPO allotment status check online by logging in at direct BSE link — bseindia.com/investors/appli_check.aspx or at direct KFin Tech’s website — ris.kfintech.com/ipostatus.
Click here to check Cyient DLM IPO allotment status
Cyient DLM IPO GMP today
However, after Cyient DLM IPO allotment, grey market has gone bullish on the public issue. According to market observers, Cyient DLM IPO grey market premium (GMP) today is ₹125, which is ₹5 higher from its Wednesday GMP of ₹120. They said that grey market is bullish on Cyient DLM IPO because of the strong response given by investors and positive sentiments on Dalal Street. They said that Nifty has hit record high today and Sensex is also close to its life-time high. So, grey market is taking cue from the secondary market as Cyient DLM IPO is expected to list on Monday next week.
What this GMP mean?
Market observers went on to add that Cyient DLM IPO GMP today is ₹125, which means grey market is expecting that Cyient DLM IPO will list at around ₹390 ( ₹265 + ₹125), which is more than 45 per cent of Cyient DLM IPO price band of ₹250 to ₹265 per equity share. So, grey market is signaling strong listing of Cyient DLM shares on Cyient DLM IPO listing date, which is most likely on Monday next week.
However, stock market experts maintained that one should not blindly rely on grey market premium as it is non-regulated and completely speculative. They said that GMP has no connect with the financials of the company and advised bidders to scan the balance sheet of the company as it would enable them understand the concrete fundamentals of the company.
Cyient DLM IPO had opened for bidding on 27th June 2023 and it remained open for bidding till 30th June 2023. As per the Cyient DLM IPO subscription status, the public issue got subscribed 67.31 times whereas its retail portion got subscribed 49.22 times. It got subscribed 45.05 times in NII category whereas its QIB portion got subscribed 90.44 times.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 06 Jul 2023, 01:04 PM IST
