GPT Healthcare IPO: GMP, review to subscription status. Apply or not?

livemint.com:

GPT Healthcare IPO: The initial public offering (IPO) of GPT Healthcare Limited hit the Indian primary market on 22nd February 2024 i.e. on Thursday last week. the public issue will remain open till 26th February 2024 i.e.

till Monday next week. The mid-sized multi-specialty hotel company has fixed the issue price at ₹177 to ₹186 per equity share. As per the GPT Healthcare IPO subscription status, the public issue has been subscribed 0.85 times in first two days of bidding.

Meanwhile, after two days of bidding, shares of GPT Healthcare Limited are available at a premium of ₹13 in the grey market today, say stock market observers. As per the stock market observers, GPT Healthcare IPO GMP (grey market premium) today is ₹13, which is higher from the issue opening date. On Thursday, GPT Healthcare IPO GMP was zero.

So, in two days, the grey market sentiments have improved regarding GPT Healthcare IPO. Market observers said that improvement in the grey market sentiment can be attributed to trend reversal on Dalal Street becuase the public issue has received dull response from the primary market investors in first two days of bidding. After two days of bidding, the book build issue got subscribed 0.85 times while the retail portion of the public issue has been booked 1.25 times.

The NII segment of the public issue has been booked 0.79 times whereas QIB portion got subscribed 0.19 times. The issue received bids of 1,67,75,440 shares against the offered 1,97,63,327 equity shares, at a price band of ₹177 to ₹186, according to the data available on the stock exchanges. Leading brokerage firms like Reliance Securities, Nirmal Bang, Anand Rathi, Mehta Equities and SMIFS have given a “Subscribe" rating to GPT Healthcare Ltd, given