Jyoti CNC Automation IPO: After the allotment of shares, investors are eagerly waiting for the Jyoti CNC Automation IPO listing date, which is most likely on 16th January 2024. In the wake of T+3 listing rules, which have become mandatory from 1st December 2023, Jyoti CNC Automation share price is most likely to hit the Indian stock market on 16th January 2024 i.e. tomorrow.
Also Read: Jyoti CNC Automation IPO allotment out. GMP, how to check status online Meanwhile, after Jyoti CNC Automation IPO allotment, the grey market sentiment has gone down in the last few sessions. After trading at a premium of ₹52 in the grey market during the weekend, Jyoti CNC Automation share price is trading at a premium of ₹39 in the grey market today, say market observers.
According to stock market observers, Jyoti CNC Automation IPO grey market premium (GMP) today is ₹39, which is ₹13 lower than its weekend GMP of ₹52. Stock market observers said that grey market sentiment has gone down despite positive sentiments on Dalal Street for the last couple of sessions. They said that the lowering of Jyoti CNC Automation IPO GMP in recent sessions should be seen as a rebalancing of the share price by the unlisted stock market.
Market observers maintained that Jyoti CNC Automation IPO GMP today is ₹39, which means Jyoti CNC Automation's share price may open around ₹370 per share level ( ₹331 + ₹39), which is around 12 per cent higher than Jyoti CNC Automation IPO price band of ₹315 to ₹331 per equity share. So, the grey market is signaling that Jyoti CNC Automation's IPO listing price would be around 12 per cent higher than the offered price band. However, stock market experts said that the grey market is not an ideal indicator of expected listing
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