Protean eGov Technologies IPO: Listing date announced. What GMP signals?
Protean eGov Technologies Limited IPO: Listing date of the initial public offering (IPO) of Protean eGov Technologies Limited has been fixed on 13th November 2023 i.e. on Monday next week. As per the information available on BSE, the public issue will list on BSE and NSE in special pre-open session during Monday deals.
While stock market experts and allottees are busy assessing the possible listing gain from the Protean eGov Technologies Limited IPO, grey market is also dropping some hint about the possible premium for allottees. According to market observers, shares of Protean eGov Technologies Limited are available at a premium of ₹80 in grey market today.
Protean eGov Technologies Limited IPO: GMP, how to check allotment status online
Protean eGov Technologies Limited IPO GMP
Market observers said that Protean eGov Technologies Limited IPO grey market premium (GMP) today is ₹80, which is ₹2 lower from its yesterday’s GMP of ₹82 per share. They said that grey market sentiments have been going downside for the last one week on Protean eGov Technologies Limited IPO, which may dent the possible listing premium of allottees.
Observers went on to add that on 3rd November Protean eGov Technologies Limited IPO GMP was around ₹180, which has now come down to the tune of ₹80, which is more than 50 per cent below its highest GMP registered on 3rd November 2023. They went on to add that Protean eGov Technologies Limited IPO GMP has been nosediving despite positive to range-bound sentiments on Dalal Street.
What this GMP means
Market observers went on to add that Protean eGov Technologies Limited IPO GMP today is ₹80, which means grey market is expecting that Protean eGov Technologies Limited IPO listing price would be around ₹872 ( ₹792 + ₹80), which is around 10 per cent higher from Protean eGov Technologies Limited IPO price band of ₹752 to ₹792 per equity share.
This means, grey market is signaling flat to positive listing of the Protean eGov Technologies Limited shares.
However, stock market experts maintained that GMNP is not an ideal indicator to assess listing premium as it is non-regulated and completely speculative. They said that grey market includes even those who have high stake involved in the public issue. So, sometimes it can be artificial as well, especially ahead of the IPO opening. They advised investors to stick with the basics and scan the balance sheet of the company as it gives concrete financial condition of the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Updated: 11 Nov 2023, 11:22 AM IST
