Tanushree Jaiswal
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Ami Organics and Vijaya Diagnostics - Grey Market Premium
5paisa Research Team
28th October 2021 - 01:21 pm
Grey market premium or GMP may not have much of official value, but as an information indicator it is useful. It gives a quick view on where the stock is expected to list and at what levels it could trade. This is specifically in case of IPOs where the GMP is a good lead indicator of how the stock could list.
GMP signals for Ami Organics
Ami Organics IPO closed on 03-Sep and the issue was subscribed 64.54 times. The issue has been priced at Rs.610 and the discovered price represents the upper end of the IPO price band. Ami Organics is a pharma intermediates manufacturer with a solid franchise of API clients in India and abroad. The stock is slated to list on Tuesday, 14-September.
As of Monday, the GMP was hinting at a premium for Ami Organics. Against the issue price of Rs.610, the GMP was hinting at a listing price of Rs.767, representing a premium of Rs.157 over the issue price. In percentage terms, this is a 25% premium as signalled by the grey market.
GMP signals for Vijaya Diagnostics
Vijaya Diagnostics IPO closed on 03-Sep and the issue was subscribed 4.54 times. The issue has been priced at Rs.531 and the discovered price represents the upper end of the IPO price band. Vijaya Diagnostics is a specialized diagnostics and testing company with a solid franchise of direct customers. The stock is slated to list on Tuesday, 14-September.
As of Monday, GMP was hinting at a discount for Vijaya Diagnostics. Against the issue price of Rs.531, the GMP was hinting at a listing price of Rs.522, representing a discount of Rs.9 over the issue price. In percentage terms, this is a 2.26% discount as signalled by the grey market.
It must be noted that GMP prices are unofficial and hence must be taken as purely indicative and not as conclusive indicators of listing price.
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