India Shelter IPO: What GMP signals after closure of subscription? Focus shifts on allotment date

As T+3 schedule has become mandatory from 1st December 2023, India Shelter IPO listing date is most likely on 20th December 2023 whereas India Shelter IPO allotment date is likely on 18th December, if it is not declared today. So, those who have applied for India Shelter IPO, can expect share allocation either today or on Monday next week.

Also Read: DOMS IPO: GMP soars after strong subscription as focus shifts on allotment date

Meanwhile, grey market has remained more or less steady in regard to Indian Shelter Finance Corporation Limited. According to stock market observers, shares of India Shelter are available at a premium of ₹145 in grey market today.

Market observers said that India Shelter IPO grey market premium (GMP) today is ₹145, which is ₹152 om Friday last week. Observers maintained that India Shelter IPO GMP has remained steady in ₹145 to ₹155 range for the last three days, which can be taken as the stock settling down in unlisted stock market. They said that the public issue has received strong reponse from investors and bullish trend on Dalal Street is like icing on the cake.

What this GMP mean?

Market observers said that India Shelter IPO GMP today is ₹145, which means grey market is expecting that India Shelter IPO listing price would be around ₹638 ( ₹493 + ₹145), which is around 30 per cent higher from India Shelter IPO price band of ₹463 to ₹493 per equity share.

However, stock market experts maintained that GMP is not an ideal indicator about possible listing gain assessment. They said that grey market is non regulated and completely speculative as it has no connect with balance sheet of the company.

The public issue received bids for 65,59,44,390 shares on the final day as against the 1,79,10,449 shares available for subscription, translating into a subscription rate of 36.62 times. Retail portion of the public issue got subscribed 9.79 times, NII portion of the IPO was subscribed 28.47 times while QIB portion of the public offer got subscribed 38.60 times.

In the wake of T+3 listing, India Shelter IPO listing date is most likely on 20th December 2023 i.e. on Wednesday next week. Hence, investors can expect India Shelter IPO allotment date on 18th December 2023 if finalisation of share allocation is not announced today.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Published: 16 Dec 2023, 12:58 PM IST