Aeroflex Industries IPO: What GMP, subscription status signal before allotment date
Aeroflex Industries IPO: Bidding for the initial public offering (IPO) of Aeroflex Industries Limited ended on Thursday and now applicants are eagerly waiting for Aeroflex Industries IPO allotment date which is most likely on 29th August 2023. As per Aeroflex Industries IPO subscription status after three days of bidding, the book build issue has been subscribed 97.11 times whereas its retail portion got subscribed 34.41 times. Meanwhile, strong response by investors, grey market has gone bullish on the public issue.
According to market observers, shares of Aeroflex Industries Ltd are available at a premium of ₹72 per share in grey market today. As per the market observers, Aeroflex Industries IPO grey market premium (GMP) today is ₹72, which is ₹12 higher from its yesterday's GMP of ₹60. Observers said that Aeroflex Industries IPO GMP surged despite weak sentiments on Dalal Street, which is praiseworthy.
They said that grey market sentiment has turned highly positive after strong response given by investors in three days of bidding. Once, the Indian stock market sentiment turns positive, there can be some more upside visible in unlisted market in regard to the book build issue, said market observers. Market observers maintained that Aeroflex Industries IPO GMP today is ₹72, which means grey market is expecting that Aeroflex Industries IPO listing price would be around ₹180, which is around 67 per cent higher from Aeroflex Industries IPO price band of ₹102 to ₹108 per equity share.
So, grey market is signaling near 67 per cent listing premium from the public issue. However, stock market experts maintained that GMP should not be taken much seriously as it is non-regulated and completely speculative. One should stick to
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