Vishnu Prakash IPO: Stock to list tomorrow; Here’s what GMP signals ahead of share debut

livemint.com:

₹308.88-crore Vishnu Prakash IPO listing date has been fixed on September 5, 2023, i.e. on Tuesday. On the back of robust demand, the Vishnu Prakash IPO grey market premium today has risen as investors remained bullish on the public offer.

According to market observers, shares of Vishnu Prakash R Punglia Ltd are available at a hefty premium in the grey market. Hence, those who have applied for the public offer, will now look for Vishnu Prakash IPO GMP for clues on estimated listing price tomorrow. Vishnu Prakash IPO GMP today, or grey market premium today, is ₹66 per share.

This is ₹12 higher from the GMP of ₹54 on Friday, according to data on topsharebrokers.com. This means that Vishnu Prakash shares are trading at a premium of ₹66 to their issue price in the grey market. On what this Vishnu Prakash IPO GMP mean, market observers said that Vishnu Prakash IPO GMP today is ₹66, which means grey market is expecting Vishnu Prakash IPO listing price to be around ₹165 ( ₹99 + ₹66), which is around 66.67% higher from the upper end of the Vishnu Prakash IPO price band of ₹94 to ₹99 per equity share.

This means, the grey market is signaling around 66.66% listing gain on Vishnu Prakash IPO listing date, which is tomorrow. Also Read: Multibagger IPO: NSE SME issue doubles allottees' money within three months of listing Vishnu Prakash R Punglia IPO was subscribed 87.82 times in total between August 24 to August 28. The public issue received 32.01 times subscription in the retail category and 171.69 times subscription in the Qualified Institutional Buyers’ (QIB) category.