Udayshivakumar Infra IPO: What GMP signals as all eyes set on allotment date
Udayshivakumar Infra IPO: After closure of four days subscription of the initial public offering (IPO) of Udayshivakumar Infra Ltd, all eyes are now set on the Udayshivakumar Infra IPO allotment date, which is most likely on 28th March 2023 i.e. on Tuesday next week. As per the Udayshivakumar Infra IPO subscription status after closure of bidding, the public issue worth ₹66 crore was subscribed 32.49 times whereas its retail portion got subscribed 14.95 times. Meanwhile, shares of Udayshivakumar Infra are available at a premium of ₹10 in grey market today, say market observers.
Udayshivakumar Infra IPO GMP today
According to market observers, Udayshivakumar Infra IPO grey market premium (GMP) today is ₹10, which is ₹2 higher from its yesterday’s GMP of ₹8. They said that despite weak sentiments on Dalal Street for last two days, Udayshivakumar Infra IPO GMP has maintained upside momentum in grey market that speaks volume about the public issue. They said that much will depend upon the stock market sentiments.
What this GMP signals?
Market observers went on to add that Udayshivakumar Infra IPO GMP today is ₹10, which means grey market is expecting that Udayshivakumar Infra IPO listing price would be around ₹45 ( ₹35 + ₹10), which is around 28 per cent higher from Udayshivakumar Infra IPO price band of ₹33 to ₹35 per equity share. Market observers said that 28 per cent listing premium in current market sentiment suggests big return for the lucky allottees as most of the IPOs listed this year have given tepid or negative return to its investors.
However, stock market experts suggested lucky allottees to stick with their conviction they have developed after scanning the financial of the company before investing. They said that GMP is non-regulated figure, which is completely speculative. This can be artificial on some occasions as well because it involved even those who have high stake involved in the public issue.
Udayshivakumar Infra IPO details
The public issue is proposed for listing on both NSE and BSE and the Udayshivkumar Infra IPO listing date is most likely on 3rd April 2023.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.