Purple United Sales IPO: Shares to debut today. Check GMP to know listing potential
shares of Purple United Sales will debut on the NSE SME platform on Wednesday. Ahead of the listing, the company's shares were trading with a GMP of Rs 80 in the unlisted market.
Considering the upper price band of Rs 126, the stock is expected to see a premium of just over 63% on listing.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The net proceeds from the public offer will be used for working capital requirements, expenditure for opening new stores and general corporate purposes.
The IPO, which was completely a fresh equity sale of 26.04 lakh shares, received strong response from investors with an overall subscription of 160 times at close.
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