Platinum Industries IPO allotment status out. GMP jumps as focus shifts on share listing date

livemint.com:

Platinum Industries IPO: After the announcement of allotment status, bidders are eagerly waiting for the Platinum Industries IPO listing date. As the T+3 rule of listing has become mandatory from 1st December 2023, Platinum Industries IPO listing date is most likely on 5th March 2024 i.e. on Tuesday next week.

Meanwhile, after the announcement of Platinum Industries IPO allotment status, the grey market has gone highly bullish on the public issue. According to stock market observers, Platinum Industries IPO GMP (grey market premium) today is ₹102, which is around 60 percent of the Platinum Industries IPO price band of ₹162 to ₹171 per equity share. As mentioned above, Platinum Industries IPO GMP today is 102 per share, which is ₹22 higher than Friday's GMP of ₹80.

Market observers said that the rise in the grey market sentiments can be attributed to the strong response received by the public issue by the primary market investors and the strong bull trend on Dalal Street. They said that the book build issue received bids close to 100 times its offer whereas the Indian stock market rallied strongly on Friday following strong global market sentiments. They expected this strong bias in the grey market to further continue as global market trends are expected to continue powering the Indian primary and secondary markets.