Yatharth Hospital IPO: What GMP signals as all eyes set on allotment date

livemint.com:

Yatharth Hospital IPO: After closure of bidding, all eyes are now set on Yatharth Hospital IPO allotment date, which is most likely on 2nd August 2023. However, after strong response by investors in all categories, those who have been allotted shares of the company are closely following unlisted stock market to get a hint of listing premium they can expect on Yatharth Hospital IPO listing date, which is most likely on 7th August 2023. For such Yatharth Hospital IPO allottees, shares of the company is available at a premium of ₹85 per equity share.

According to market observers, Yatharth Hospital IPO grey market premium (GMP) today is ₹85, which is ₹13 higher from the weekend GMP of ₹72 per equity share. They said that rise in Yatharth Hospital IPO GMP can be attributed to strong response by investors and strong buying in small-cap and mid-cap stock. They said that grey market mood has remained positive about eh public issue despite tepid movement in key benchmark indices of Dalal Street.

They said that ever since Yatharth Hospital IPO made its debut in unlisted stock market, grey market mood has more or less remained positive in regard to this IPO. Market observers said that Yatharth Hospital IPO GMP today is ₹85, which means grey market is expecting that Yatharth Hospital IPO listing price would be around ₹385 ( ₹300 + ₹85), which is more than 28 per cent from Yatharth Hospital IPO price band of ₹275 to ₹300 per equity share. They said that grey market is trying to signal that an allottee may expect to get more than 25 per cent return on the listing date.