The IPO of Aditya Birla Sun Life AMC (Aditya Birla Sun Life AMC) closed on 1 October 2021. This public issue of about Rs 2,769 crore was subscribed 5.25 times on its last day. Now all eyes are on the date of IPO allotment, which is expected to happen on 6th October 2021.
How much is GMP running?
However, Aditya Birla AMC’s gray market premium (GMP) has declined due to lower than expected IPO subscriptions. According to Market Observer, Aditya Birla AMC shares were trading at a premium of just Rs 3 in the gray market on Monday, which is Rs 17 less than yesterday’s GMP. Such a fall in the gray market premium of Aditya Birla AMC indicates that its listing on the stock market on October 11 may remain “flat”, says Market Observer.
This stock included in Vijay Kedia’s portfolio reached lifetime-high, experts are giving BUY advice
Market Observers reported that Aditya Birla AMC’s GMP has come down from Rs 70 to Rs 3 in just a week’s time, mainly due to weak investor response. He said that prior to the date of opening of the IPO, the shares of Aditya Birla AMC were available at a premium of Rs 70 in the gray market. But after a weak response from investors, it started declining.
Why not get good response from investors? When asked, market observers said that the IPO was 100% offer for sale (OFS), which may not have gone down well with the investors.
HNI buying continues in this realty stock, brokerages suggest positional buying
What does this GMP mean?
Market Observers said that GMP simply means the gray market is expected to list the IPO at such a high premium. For example, today GMP of Aditya Birla AMC IPO is Rs. This means that the Aditya Birla AMC IPO is expected to list at Rs 715 ((Rs 712 IPO upper price band limit + Rs 3 gray market premium).
Decline in turmeric, know what is the reason, where experts are giving advice to buy
However, the stock market says that bidders should not be bothered by the gray market figures. This is unofficial data that has nothing to do with the financial position of the company. He said that the financial position of the company is the most important factor in the success and failure of any public issue.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.