Kross IPO GMP declines by half ahead of Monday listing. Check details
grey market premium (GMP) on Kross' shares have reduced by half to Rs 24 from Rs 50 ahead of the listing of the stock on September 16, Monday. This is a 10% premium over the issue price of Rs 240 per share.
The three-day initial public offering (IPO) which ended on September 11 got a strong response from all categories of investors though qualified institutional buyers (QIBs) hold the edge.
The issue was subscribed 16.81 times with the retail category getting booked 10.76 times. The non-institutional investors (NIIs) and qualified institutional buyers (QIBs) booked the issue 22.24 and 23.32 times, respectively.
The allotment of shares and credit to the demat accounts is expected to have been over while the process of refund to those bidders who did not get allotment is also likely done by now.
Investors get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.
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