SME IPO on NSE gets 435 times subscription in retail portion. GMP jumps

Baheti Recycling IPO GMP today

Market observers said that Baheti Recycling IPO grey market premium (GMP) today is ₹34, which is ₹2 higher from its yesterday’s grey market premium of ₹32. They said that after strong response by investors, grey market has gone highly bullish on NSE SME IPO. They said that Dalal Street sentiments are also bullish as market is expecting NSE Nifty to hit 19,000 levels soon. Observers went on to add that Baheti Recycling IPO GMP has surged from ₹8 to ₹34 in last one week, that signals strong listing premium for the IPO subscribers.

What this GMP means?

Market observers went on to add that Baheti Recycling IPO GMP today is ₹34, which means grey market is expecting that Baheti Recycling IPO listing may take place at around ₹79 ( ₹45 + ₹34), which is around 75 per cent higher from its price band of ₹45 per equity share. So, grey market is signaling strong debut of Baheti Recycling shares on NSE SME exchange on its listing date, which is most likely on 8th December 2022.

As per the tentative schedule of the public issue, Baheti Recycling IPO allotment is most likely on 5th December 2022.

However, stock market experts said that GMP is not an ideal indicator about success of failure of a public issue as it has nothing to do with the balance sheet of the company. They said that GMP is a non-regulated and completely speculative figure and hence one should not take it blindly and rely much on it. They advised investors to stick with their conviction they developed after going through the financials of the company.