Flair Writing IPO: What GMP signals after announcement of allotment status
Flair IPO: Allotment status of the initial public offering (IPO) of Flair Writing Industries Ltd has been announced and now allottees are eagerly waiting for Flair IPO listing date, which is most likely on 1st December 2023 i.e. tomorrow. Meanwhile, in overcrowded primary market, grey market has gone further bullish on Flair IPO.
According to market observers, shares of Flair Writing Industries Ltd are available at a premium of ₹82 in grey market today. Market observers said that Flair IPO grey market premium (GMP) today is ₹83, which is ₹3 higher from Flair IPO GMP of ₹80 on Wednesday. So, Flair IPO GMP has risen in last one day.
Market observers said that rise in grey market sentiments can be attributed to optimisims in Indian stock market and strong response by investors to the public issue during subscription date. Market observers went on to add that Flair IPO GMP today is ₹83, which means grey market is expecting that Flair IPO listing price would be around ₹387 ( ₹304 + ₹83), which is around 27 per cent higher from Flair IPO prie band of ₹288 to ₹304 per equity share. However, stock market experts maintained that grey market is not an ideal indicator to find out possible listing gain from a public issue.
They said that grey market is non regulated and completely speculative because it has nothing to do with financials of the company. They went on to add that sometimes grey market gives artificial numbers as it inbolvbed even those who have high stake involved in the public issue. They advised allottees to remain with the conviction they have made after scanning the balance sheet of the company as balance sheet gives concrete fundamental picture of the company.Milestone Alert!
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