RBZ Jewellers IPO: What GMP, subsription status signal as bidding ends today
RBZ Jewellers IPO: The initial public offering (IPO) of RBZ Jewellers Limited opened for subscription on 19th December 2023 and it will remain open till 21st December 2023. This means RBZ Jewellers IPO subscription will end today evening or in other words, investors have just one day in hand to apply for the RBZ Jewellers IPO. In two days of bidding, RBZ Jewellers IPO subscription status informs that the public issue has received strong response from investors.
In grey market, shares of RBZ Jewellers Limited are still looking strong. According to stock market observers, RBZ Jewellers shares are trading at a premium of ₹32 in grey market today. Market observers said that RBZ Jewellers IPO grey market premium (GMP) today is ₹32, which is unchanged from yesterday's GMP of ₹32.
Observers said that RBZ Jewellers IPO GMP remained steady despite heavy sell off in secondary market on Wednesday, which is praiseworthy. They said that steady GMP signals strong conviction of investors in regard to the RBZ Jewellers IPO. However, stock market experts maintained that GMP is not an ideal indicator of positive or negative conviction of investors as grey market is non regulated and completely speculative.
They went on to add that one should scan financials of the company as it has direct connect with the fundamentals of the company. After two days of bidding, the public issue has been subscribed 7.15 times whereas its retail portion has been subscribed 13.14 times. The NII portion of the book build issue has been subscribed 3.49 times while QIB segment has received 0.05 times bids against its offer.
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