Droneacharya Aerial Innovations IPO: GMP signals strong returns for allottees
Droneacharya Aerial Innovations IPO listing: Shares of the drone solution company are going to list on Dalal Street soon. As per the tentative schedule of the BSE SME IPO, Droneacharya Aerial Innovations IPO listing date is most likely on 23rd December 2022. The BSE SME IPO (Initial Public Offering) received strong response from retail and other investors and the SME share has remained available above 100 per cent premium in grey market ever since it made its debut in the primary markets. According to market observers, shares of Droneacharya Aerial Innovations Ltd are available at a premium of ₹65 in grey market today.
Droneacharya Aerial Innovations IPO GMP today
Market observers said that Droneacharya Aerial Innovations IPO GMP (grey market premium) today is ₹65, which is ₹7 below its Wednesday GMP of ₹72. They said that this dip in Droneacharya Aerial Innovations IPO GMP can be understood as sentiments in primary and secondary markets have dropped in last two days after the newsbreak of rising Covid-19 cases in China. They said that despite weakness in Dalal Street sentiments, Droneacharya Aerial Innovations IPO GMP has remained above 100 per cent that speaks volume for the BSE SME IPO, especially when we look at the main board IPOs trading at a discounted price in grey market.
What this GMP means?
Market observers said that Droneacharya Aerial Innovations IPO GMP today is ₹65 that means grey market is expecting that Droneacharya Aerial Innovations IPO listing price would be around ₹119, around 120 per cent higher than its price band of ₹52 to ₹54 per equity share. They said that such a robust grey market premium at a time when both primary and secondary market sentiments have nosedived drastically is nothing but a signal that Droneacharya Aerial Innovations shares may have a strong debut when it lists on the proposed BSE SME exchange.
However, stock market experts maintained that GMP should be a sole criteria for deciding upon the expected premium from a public issue. They said that GMP is non-regulated and completely speculative in nature. So, one should follow the basics and scan financials of the company instead of GMP of the public issue.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.