IPO GMP: What Utkarsh Small Finance Bank IPO GMP, Netweb Technologies IPO GMP signal

livemint.com:

IPO GMP: Two initial public offering (IPOs) — Utkarsh Small Finance IPO and Netweb Technologies IPO — will be watched closely in upcoming week. Bidding for Utkarsh Small Finance ended on Friday last week and the main board IPO received strong response from investors. On the other hand, bidding for the Netweb Technologies IPO will begin on Monday next week and it will remain open for bidders till Wednesday next week.

According to market observers, grey market is bullish on both the public issues as shares of Utkarsh Small Finance Bank and Netweb Technologies are available at a very strong premium. According to market observers, Utkarsh Small Finance Bank IPO grey market premium (GMP) today is ₹16, which means the grey market has remained steady in regard to the initial offer of Utkarsh SFB. They said that positive stock market sentiments and strong response helped Utkarsh Small Finance Bank IPO to remain in the reckoning of the grey market.

They said that Utkarsh Small Finance Bank IPO GMP today is ₹16, which means grey market is expecting that Utkarsh Small Finance Bank IPO listing price would be around ₹41, which is around 64 per cent higher from Utkarsh Small Finance Bank IPO price band of ₹23 to ₹25. As per the Utkarsh Small Finance Bank IPO subscription status, the public issue has been subscribed 101.91 times whereas its retail portion got suubscribed 72.11 times. The public issue got subscribed 81.64 times in NII category while it was subscribed 124.85 times in QIB category.

Now, bidders are eagerly awaiting for the Utkarsh Small Finance Bank IPO allotment date, which is most likely on 19th July 2023 i.e. on Wednesday next week. Shares of Netweb Technologies Ltd have made strong debut in unlisted stock market ahead