IPO GMP: What grey market signals about Utkarsh SFB, Netweb Technologies IPOs
IPO GMP: Two initial public offering (IPOs) — Utkarsh Small Finance IPO and Netweb Technologies IPO — will be watched closely in upcoming week. Bidding for Utkarsh Small Finance ended on Friday last week and the main board IPO received strong response from investors. On the other hand, bidding for the Netweb Technologies IPO will begin on Monday next week and it will remain open for bidders till Wednesday next week. According to market observers, grey market is bullish on both the public issues as shares of Utkarsh Small Finance Bank and Netweb Technologies are available at a very strong premium.
Utkarsh Small Finance Bank IPO GMP today
According to market observers, Utkarsh Small Finance Bank IPO grey market premium (GMP) today is ₹16, which means the grey market has remained steady in regard to the initial offer of Utkarsh SFB. They said that positive stock market sentiments and strong response helped Utkarsh Small Finance Bank IPO to remain in the reckoning of the grey market. They said that Utkarsh Small Finance Bank IPO GMP today is ₹16, which means grey market is expecting that Utkarsh Small Finance Bank IPO listing price would be around ₹41, which is around 64 per cent higher from Utkarsh Small Finance Bank IPO price band of ₹23 to ₹25.
As per the Utkarsh Small Finance Bank IPO subscription status, the public issue has been subscribed 101.91 times whereas its retail portion got suubscribed 72.11 times. The public issue got subscribed 81.64 times in NII category while it was subscribed 124.85 times in QIB category. Now, bidders are eagerly awaiting for the Utkarsh Small Finance Bank IPO allotment date, which is most likely on 19th July 2023 i.e. on Wednesday next week.
Netweb Technologies IPO GMP today
Shares of Netweb Technologies Ltd have made strong debut in unlisted stock market ahead of its subscription opening date. Netweb Technologies IPO subscription is opening on Monday and its shares are available at a premium of ₹338 in grey market today, say market observers. They said that Netweb Technologies IPO grey market today is ₹338, which means grey market is expecting that Netweb Technologies IPO listing price would be around ₹838 ( ₹500 + ₹338), which is around 67 per cent higher from Netweb Technologies IPO price band of ₹475 to ₹500 per equity share. So, grey market is highly bullish on the upcoming IPO. The mainboard IPO is expected to attract strong response by investors, signals grey market.
However, stock market experts maintained that grey market is non-regulated and completely speculative in nature. Sometimes, GMP is found artificial as well as it involves even those who have a big stake involved with the public issue. They advised investors to follow the basics and scan balance sheet of the companies offering their shares.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 15 Jul 2023, 02:56 PM IST
