Manoj Vaibhav Gems IPO: Bidding ends today. GMP, subscription status, apply or not?
Manoj Vaibhav Gems IPO: The initial public offering (IPO) of Manoj Vaibhav Gems 'N' Jewellers Limited opened for subscription on 22md September 2023 i.e. on Friday last week. The three day subscrion of the main board issue is ending today and hence investors have just one day in hand to apply for the book build issue.
The public issue of the hyperlocal south Indian jewellery brand is available at a price band of ₹204 to ₹215 per equity share. According to stock market observers, shares of Manoj Vaibhav Gems 'N' Jewellers Limited are available at a premium of ₹12 in grey market today. After two days of bidding, the public issue is yet to get fully subscribed as Manoj Vaibhav Gems IPO subscription status suggests that the issue has been subscribed 0.58 times in two days of bidding.
As per the market observers, Manoj Vaibhav Gems IPO grey market premium (GMP) today is ₹12, which is steady for the last two days. They said that tepid response by investors and cautious trend on Dalal Street could the possible reason for such lukework grey market sentiments. However, they said that issue size is small and we can expect strong spike in subscription status as people generally come strongly on the last date of subscription date.
After two days of bidding, the public issue has been subscribed 0.58 times. As per the information available on BSE website, the public issue has been subscribed 0.58 times whereas its retail portion has been subscribed 0.73 times. In NII category, the book build issue has been subscribed 0.57 times in NII category while it has been subscribed 0.33 times in QIB category.
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