Ventive Hospitality shares to debut today. Here's what GMP indicates
Ventive Hospitality will debut on the exchanges on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 70 in the grey market.
Considering the upper price band of Rs 643, the stock is expected to list at a premium of just over 10% compared to the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Ventive Hospitality received decent response from investors with an overall subscription of just over 10 times at close.
On valuation, the issue asked for a market cap of Rs 15,016 crore. Based on FY24 earnings, the company was valued at a PE of 90x times.
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