Rishabh Instruments IPO listing date fixed on 11st September. What GMP signals?
Rishabh Instruments IPO: Listing date for the initial public offering (IPO) has been fixed on 11th September 2023. As per the BSE notice, effective from Monday, September 11, 2023, the equity shares of Rishabh Instruments Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities. Rishabh Instruments shares will be listed on BSE and NSE in a special pre-open session on Monday at 10:00 AM.
Meanwhile, grey market has remained steady in regard to Rishabh Instruments IPO. According to market observers, shares of Rishabh Instruments Limited are available at a premium of ₹62 in grey market today. Market observers said that Rishabh Instruments IPO grey market premium (GMP) today is ₹62, which is ₹2 higher from its Friday GMP of ₹60.
They said that grey market sentiments have remained steady in last three sessions that signals that grey market is expecting positive debut for Rishabh Instruments shares. They said that Indian stock market sentiments are bullish and strong opening on Monday on Dalal Street may augur well for the listing of Rishabh Instruments shares. Market observers went on to add that Rishabh Instruments IPO grey market premium (GMP) today is ₹62, which means grey market is expecting that Rishabh Instruments IPO listing price would be around ₹503 ( ₹441 + ₹62), which is around 14 per cent higher from Rishabh Instruments IPO price band of ₹418 to ₹441 per equity share.
They said that grey market is signaling that Rishabh Instruments IPO will list on a positive note with handsome gains. However, stock market experts maintained that grey market premium is not an ideal indicator about the possible listing gain assessment. They said that its financials that give concrete
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