Aeroflex Industries IPO: What does GMP signal ahead of listing tomorrow? Check here

livemint.com:

IPO listing date has been fixed on August 31. Aeroflex Industries raised ₹351 crore from the initial share sale. The current trends in the grey market indicate a strong listing for Aeroflex Industries shares on BSE and NSE.

Let us take a look at what Aeroflex Industries IPO GMP signals ahead of listing tomorrow: Aeroflex Industries IPO GMP today, or grey market premium today, is ₹69 per share. This indicates Aeroflex Industries IPO share price is trading at a premium of ₹69 in the grey market on Wednesday, according to topsharebrokers.com. Considering the upper end of the Aeroflex Industries IPO price band and the current premium in the grey market, the estimated Aeroflex Industries IPO share listing price would be ₹177 apiece, which is 63.89% higher than the IPO price.

'Grey market premium' indicates investors' readiness to pay more than the issue price. The Ashish Kacholia backed Aeroflex Industries IPO was subscribed 97.11 times in total. A stunning 194.73 times subscription was received in the Qualified Institutional Buyers (QIBs) category and 126.13 times in the Non-Institutional Investors (NII) category.

Retail quota was booked 34.41 times. Also Read: Aeroflex IPO receives response worth ₹24,500 crore. Check GMP, how to check allotment The company had raised ₹103.68 crore from anchor investors a day ahead of its IPO opening.