Motisons Jewellers IPO listing date declared. GMP signals multibagger return

livemint.com:

BSE website, the Motisons Jewellers share price will list on BSE and NSE on 26th December 2023 in the 'T' group of securities. Motisons Jewellers IPO listing will take place in a special pre-open session. "Trading Members of the Exchange are hereby informed that effective from Tuesday, December 26, 2023, the equity shares of Motisons Jewellers Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities," BSE notice said adding, "The scrip will be in Trade-for-Trade segment for 10 trading days." Meanwhile, after the announcement of Motisons Jewellers IPO listing date, the grey market is signaling a strong debut of shares.

According to stock market observers, Motisons Jewellers share price is available at a premium of ₹55 in the grey market today. This means that Motisons Jewellers IPO GMP (grey market premium) today is ₹55, which is ₹34 lower than Friday's GMP of ₹89. Market observers said that despite such a dip in grey market premium, Motisons Jewellers share price is still quoting at 100 per cent premium, which means the grey market is signaling multibagger return for lucky allottees.

Market observers maintained that the grey market is signaling that Motisons Jewellers IPO GMP today is ₹55, which means Motisons Jewellers IPO listing price would be around ₹110 ( ₹55 + ₹55), which is 100 per cent higher than Motisons Jewellers IPO price band of ₹52 to ₹55 per equity share. However, stock market experts maintained that the grey market is not an ideal indicator to assess listing gain from a public issue. They said that the grey market is non-regulated and completely speculative.