Divgi TorqTransfer Systems IPO: GMP jumps ahead of share listing date
Divgi TorqTransfer Systems IPO: The initial public offering (IPO) of Divgi TorqueTransfer Systems Ltd is expected to list on BSE and SME on 14th March 2023 i.e. on tomorrow. The public issue worth ₹412.12 crore was subscribed 5.44 times in three days of bidding from 1st March to 3rd March 2023. According to market observers, grey market sentiment has appreciated after two days of beating. They said that shares of Divgi TorqueTransfer Systems are available at a premium of ₹45 in grey market today.
Divgi TorqTransfer Systems IPO GMNP today
Market observers maintained that Divgi TorqTransfer Systems IPO GMP (grey market premium) today is ₹45, which is ₹10 higher from its yesterday’s GMP of ₹35 apiece. They said that rise in grey market sentiments can be attributed to the buying interest shown by Dalal Street bulls in early morning deals on Dalal Street. They said that Divgi TorqTransfer Systems IPO GMP has remained in positive territory despite weak stock market sentiments that speaks volume.
On what this Divgi TorqTransfer Systems IPO GMP signals, market experts said that looking at last few days grey market mood, we can assume that grey market is expecting positive debut of Divgi TorqTransfer Systems shares.
What this GMP mean?
Market observers said that Divgi TorqTransfer Systems IPO GMP today is ₹45, which means grey market is expecting that Divgi TorqTransfer Systems IPO listing would be around ₹635 ( ₹590 + ₹45), which is around 7.50 per cent of Divgi TorqTransfer Systems IPO price band, which was fixed at ₹560 to ₹590 apiece levels.
However, stock market experts advised Divgi TorqTransfer Systems IPO allottees to stick with their conviction developed after scanning the balance sheet of the company. They said that GMP is not an ideal indicator about the possible listing gain from an IPO as it is non regulated and completely speculative. They went on to add that GMP can be artificial as well because sometimes it involved even those who have high stake involved in the public issue.
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