Rishabh Instruments IPO: GMP, subscription status, other details. Apply or not?

livemint.com:

Rishabh Instruments IPO: The initial public offering (IPO) of Rishabh Instruments Limited opened for bidding on 30th August 2023 and it will remain open for subscribers till 1sst September 2023. This means, investors have just one day in hand to apply for the public offer as Rishabh Instruments IPO subscription date is ending today evening. In two days of bidding, the Rishabh Instruments IPO subscription status reveals that the book build issue has been subscribed 2.46 times whereas its retail portion has been subscribed 2.79 times.

Meanwhile, ahead of Rishabh Instruments IPO subscription closure, grey market sentiments have remained bullish on the public issue. According to market observers, shares of Rishabh Instruments Limited are available at a premium of ₹85 per equity share in grey market today. Market observers said that Rishabh Instruments IPO grey market premium (GMP) today is ₹85, which is ₹2 higher from its yesterday's GMP of ₹83.

They said that grey market sentiments in regard to this book build issue has remained positive for the last four days that reflects that unlisted market is expecting warm welcome of Rishabh Instruments shares in the primary market. They expected sharp rise in subscription status of the IPO as today is the last date to apply for the IPO. As per the Rishabh Instruments IPO subscription status, after two days of bidding, the public offer has been subscribed 2.46 times while its retail portion has been subscribed 2.79 times.