Avalon Technologies IPO: What GMP signals ahead of share listing date?
Avalon Technologies IPO: After finalisation of share allotment, all eyes are now set on the Avalon Technologies IPO listing date, which is most likely on 18th April 2023. Meanwhile, before share listing date, both allottees and market observers are busy calculating the premium allottees may have on share debut. According to market observers, shares of Avalon Technologies Ltd is available at a premium of ₹12 per equity share in grey market today.
Avalon Technologies IPO GMP today
As per the market observers, Avalon Technologies IPO GMP today is ₹12, which is ₹2 higher from its yesterday’s GMP of ₹10. Market observers said that the way Indian stock market has been rallying for last nine sessions, grey market response is not in sync with the secondary market performance. They said that the cold response by grey market can be attributed to the dull response given by investors to the IPO. The public issue remained under subscribed in all categories except QIBs. However, they maintained that despite dull response by investors, Avalon Technologies IPO GMP has remained positive throughout its debut in grey market, which signals positive debut of shares.
What this GMP mean?
Market observers went on to add that Avalon Technologies IPO GMP today is ₹12, which means grey market is expecting that Avalon Technologies IPO listing price would be around ₹448 ( ₹436 + ₹12), which is at par with its price band of ₹415 to ₹436 per equity share. Market observers said that grey market is signaling that Avalon Technologies shares may have a par listing on share listing date.
However, stock market experts maintained that grey market sentiment shouldn’t be taken blindly as it is non-regulated and completely speculative. They advised investors to scan financials of the company as it reflects concrete fundamental picture of the company.
Avalon Technologies IPO got subscribed 2.34 times on strong response by QIB category investors. The retail portion of the public issue got subscribed 0.88 times whereas its QIB category got subscribed 3.77 times. The public issue got subscribed 0.43 times in NII segment.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.