Rishabh Instruments IPO: What GMP signals after announcement of allotment status
Rishabh Instruments IPO: Allotment status has become public for the initial public offering (IPO) of Rishabh Instruments Limited. Those who have applied for the Rishabh Instruments IPO, they are advised to check their Rishabh Instruments IPO allotment status online at BSE website or at the website of its official registrar KFin Technologies. However, after allotment of shares, investors and market observers are eagerly waiting for the Rishabh Instruments IPO listing date, which is most likely on 11th September 2023 i.e.
on Monday next week. Meanwhile, after announcement of Rishabh Instruments IPO allotment status, grey market has gone little bullish on the public issue. According to market observers, shares of Rishabh Instruments Ltd are available at a premium of ₹71 in grey market today, which is ₹8 higher from Wednesday close of ₹63.
They said that grey market premium has surged during morning deals on Thursday as market is expecting gap up opening today. They said that Rishabh Instruments IPO GMP may further go upside once Nifty breaches its immediate hurdle placed at 19,600 levels. Market observers went on to add that Rishabh Instruments IPO GMP today is ₹71, which means grey market is expecting that Rishabh Instruments IPO listing price would be around ₹512 ( ₹441 + ₹71), which is near 16 per cent higher from Rishabh Instruments IPO price band of ₹418 to ₹441 per equity share.
They said that grey market is signaling that allottees may expect around 16 per cent return on their money. However, stock market experts maintained that grey market is not an ideal indicator about expected listing gain as it is completely speculative in nature. They said that one should scan financial of the company as it would give exact
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