Mankind Pharma IPO: GMP (grey market premium) jumps ahead of share allotment date
Mankind Pharma IPO: After closure of subscription, bidders and market observers are eagerly waiting for announcement of share allotment date, which is most likely on 3rd May 2023. As per the tentative schedule of this Prega News and Manforce maker company’s initial public offering (IPO), Mankind Pharma IPO allotment date is most likely on 3rd May 2023. However, those who have applied for the IPO need not to move from pillar to post as they can check their application status online by logging in at the BSE website or at official registrar’s website. Meanwhile, as Mankind Pharma IPO allotment date is fast approaching, grey market has gone bullish on the public issue as the secondary market has been in uptrend for last six days. According to market observers, shares of Mankind Pharma Ltd are available at a premium of ₹92 in grey market today.
Mankind Pharma IPO GMP today
Market observers said that Mankind Pharma IPO grey market premium (GMP) today is ₹92, which is ₹7 higher from its yesterday’s GMP of ₹85 apiece. They said that Mankind Pharma IPO GMP has risen from ₹60 to ₹92 in last three days, which is mainly due to the trend reversal on Dalal Street. They said that bullish sentiments at Indian stock market has changed grey market sentiments in regard to Mankind Pharma IPO.
They said that Mankind Pharma IPO GMP may further go upside if the secondary market continues to remain bullish when the stock market opens on Monday after Maharashtra Day holiday.
What this GMP mean?
Primary market observers went on to add that Mankind Pharma IPO GMP today is ₹92, which means grey market is expecting that Mankind Pharma IPO listing price would be around ₹1172 ( ₹1080 + ₹92), which is 8.50 per cent higher from Mankind Pharma IPO price band of ₹1026 to ₹1080 per equity share.
Market observers maintained that grey market is signaling that Mankind Pharma shares may have a positive debut on its listing date, which is most likely on 8th May 2023.
However, stock market experts maintained that GMP is not an ideal indicator about the success or failure of a public offer. One should stick to the basics and scan financials of the company as it gives concrete fundamental picture that is going to last for long.
Mankind Pharma IPO details
After closure of Mankind Pharma IPO subscription, focus has shifted on Mankind Pharma IPO allotment date, which is expected on 3rd May 2023. Mankind Pharma IPO listing is proposed on both NSE and BSE and Mankind Pharma IPO listing date is expected on 8th May 2023.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.