Cyient DLM IPO listing date announced. GMP, experts signal strong debut of shares
IPO listing date has been fixed on 10th July 2023 i.e. on Monday next week. As per the BSE notice, effective from Monday, July 10, 2023, the equity shares of Cyient DLM Limited shall be listed and admitted to dealings on BSE and NSE in the list of 'B' group of securities.
After announcement of Cyient DLM IPO allotment status, bidders are eagerly looking at the grey market to find out about the expected listing premium they can expect on Monday. According to market observers, Cyient DLM share price is trading at a premium of ₹140 in grey market today. As per the market observers, Cyient DLM IPO grey market premium is ₹140, which means grey market is expecting that the public issue will list at around ₹405 ( ₹265 + ₹140), which is more than 50 per cent from Cyient DLM IPO price band of ₹250 to ₹265 per equity share.
Observers went on to add that grey market is highly bullish on the public offer as the IPO has received strong response from the investors. They went on to add that ever since the IPO made its debut in the grey marekt, it has remained above ₹100 that means grey market is expecting that Cyient DLM IPO listing price would be around 365 per share in bear case whereas in bulls case the issue may list around ₹400 per share levels. However, stock market experts maintained that GMP is not an ideal indicator for assessing expecting listing premium from any IPO.
They went on to add that grey market is non-regulated and completely speculative. One should stick to the basics and rely on the balance sheet of the company. So, only GMP should not be an ideal way of assessing about the listing premium.
Read more on livemint.com
