Enviro Infra Engineers IPO shares to debut on Friday. What GMP signals ahead of listing?
Considering the upper price band of Rs 148, the stock is expected to list with gains of 33% over the issue price if the current trends are sustained.
However, it is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Despite a subdued mood in the market, Enviro Infra managed to attract a strong subscription response of nearly 90 times, with high demand seen in both QIB and NII categories.
Analysts said the subscription demand is justified on the back of reasonable IPO valuation along with sector-wise focus and increasing relevance of water and wastewater infrastructure treatment by the government as well as industries.
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