Vishnu Prakash IPO: What GMP signals after announcement of allotment status

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Vishnu Prakash IPO: After announcement of share allocation all eyes are now set on Vishnu Prakash IPO listing date, which is most likely on 5th September 2023, i.e. on Tuesday next week. Meanwhile, after announcement of Vishnu Prakash IPO allotment status, grey market has gone bullish on the public offer.

According to market observers, shares of Vishnu Prakash R Punglia Limited are available at a premium of ₹60, which is ₹6 higher from the Friday low of ₹54. So, those who have applied for the public offer, they are advised to check Vishnu Prakash IPO allotment status online by logging in at the BSE website or at the Vishnu Prakash IPO registrar's website. Link Intime India Private Limited has been appointed as Vishnu Prakash IPO registrar.

Market observers said that Vishnu Prakash IPO grey market premium (GMP) today is ₹60, which is ₹6 higher from lowest level of Vishnu Prakash IPO GMP of ₹54 on Friday. They said that trend reversal on Dalal Street favoured unlisted stock market sentiments and hence, Vishnu Prakash IPO GMP rebounded sharply and hit ₹60 per share levels on Saturday. On what this Vishnu Prakash IPO GMP mean, market observers said that Vishnu Prakash IPO GMP today is ₹60, which means grey market is expecting Vishnu Prakash IPO listing price to be around ₹159 ( ₹99 + ₹60), which is around 60 per cent higher from Vishnu Prakash IPO price band of ₹94 to ₹99 per equity share.

This means, grey market is signaling around 60 per cent listing gain on Vishnu Prakash IPO listing date, which is most likely on 5th September 2023 i.e. on Tuesday next week. Those, who have applied for the IPO can check their allotment status online by logging in at BSE or at Link Intime website.