Rashi Peripherals IPO: GMP reflects decent debut of shares ahead of listing date
Rashi Peripherals IPO: After the announcement of share allocation, lucky allottees are eagerly waiting for the Rashi Peripherals IPO listing date, which is most likely on 14th February 2024 i.e. tomorrow. The reason for expecting Rashi Peripherals IPO listing on Wednesday is because of the T+3 listing rule which has become mandatory for each public issue from 1st December 2023.
However, it is for sure that Rashi Peripherals IPO listing date is fast approaching and the grey market has an idea about it. Ahead of the Rashi Peripherals IPO listing date, the grey market is signaling that allottees may have a decent return on their money. According to stock market observers, after the announcement of Rashi Peripherals IPO allotment status, shares of Rashi Peripherals Limited are available at a premium of ₹60 in the grey market today.
As per the stock market observers, Rashi Peripherals IPO GMP (grey market premium) today is ₹60, which is ₹16 lower than the Tuesday morning GMP of ₹76. This has happened despite the trend reversal on Dalal Street. Observers said that the grey market is settling down with the fair value of the public issue and a ₹60 premium still signals a decent debut of Rashi Peripherals shares.
Market observers went on to add that Rashi Peripherals IPO GMP today is ₹60, which means the grey market is expecting that Rashi Peripherals IPO listing price would be around ₹371 ( ₹311 + ₹60), which is around 19 percent higher than Rashi Peripherals IPO price band of ₹295 to ₹311 per equity share. So, despite the dip in Rashi Peripherals IPO GMP today, the grey market still reflects a decent debut of Rashi Peripherals shares on Dalal Street. However, stock market experts maintained that GMP is not an ideal indicator of
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