Senco Gold IPO listing date most likely on tomorrow. What GMP signals?
Senco Gold IPO listing: After allotment of shares, all eyes are now set on the Senco Gold IPO listing date, which is most likely on 14th July 2023 i.e. on tomorrow. so, lucky allottees and market observers are busy scanning balance sheet of the company and their performance in unlisted stock market to find out clue in regard to Senco Gold IPO listing price.
According to market observers, shares of Senco Gold Ltd is available at a premium of ₹128 per equity share in grey market today. Market observers said that Senco Gold IPO grey market premium (GMP) today is ₹128, which is ₹3 higher from its yesterday's GMP of ₹125 per equity share. They said that grey market has remained almost steady about Senco Gold shares as it has been oscillating in ₹120 to ₹135 range after closure of Senco Gold IPO bidding.
On reason for strong sentiment in regard to Senco Gold shares in grey market, market observers maintained that Indian stock market has remained sideways for near one week and grey market is following the same pattern. It is steady in ₹120 to ₹135 zone, signaling positive debut for Senco Gold shares. Market observers went on to add that Senco Gold IPO GMP today is ₹128, which means grey market is expecting that Senco Gold IPO listing price would be around 445 ( ₹317 + ₹128), which is 40 per cent higher from Senco Gold IPO price band of ₹301 to ₹317 per equity share.
Observers said that today's Senco Gold IPO GMP signals that the public issue may list at a premium of near 40 per cent. This means, grey market is expecting that the initial issue will have a strong debut on Dalal Street on listing date. However, stock market experts maintained that GMP should not be taken so blindly as it is 100 per cent non-regulated and
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