Chemplast Sanmar shares may have a flat listing today, say experts

Chemplast Sanmar IPO listing date: The grey market premium for Chemplast Sanmar indicating tepid debut amid the volatility in the broader market. Photo: Courtesy chemplastsanmar.com/

1 min read . Updated: 24 Aug 2021, 05:31 AM IST Asit Manohar

Chemplast Sanmar IPO listing date: Grey market is also not indicating any positive sentiment in regard to Chemplast shares, say experts

Chemplast Sanmar IPO listing date: Shares of Chemplast Sanmar is going to list today at Indian bourses. According to experts, the way bearish sentiments have griped the Indian stock market, Chemplast Sanmar shares may have to face a hit from it. They said that grey market is also not indicating any positive sentiment in regard to Chemplast shares, so the public issue may have a flat listing today.

Speaking on the expected listing of Chemplast Sanmar shares; Abhay Doshi, Founder at UnlistedArena.com said, "As the bearish sentiments have griped the market, recent IPO listings have took a hit. Chemplast Sanmar financials reflected exorbitant growth in FY21 due to recent acquisition but it would be prudent to watch if such performance sustains further or not. The fancy may be missing in listing and I expect Chemplast share listing to be flat/marginal premium around its issue price of ₹530 to ₹541."

Indicating at the grey market sentiment in regard to Chemplast Sanmar IPO listing; Arijit Malakar, Head of Research at Ashika Stock Broking said, "The grey market premium for Chemplast Sanmar indicating tepid debut amid the volatility in the broader market. Further, the Chemplast Sanmar overall IPO subscription remained tepid compared to other IPOs which witnessed robust over subscription. Chemplast Sanmar is available at a premium of ₹26 ₹28 over its price range of ₹530 ₹541, thus the IPO is not commanding premium over 10 per cent in the grey market."

Expecting Chemplast Sanmar IPO listing at near 10 per cent discount; Ravi Singhal, Vice Chairman at GCL Securities said, "I am expecting weak listing of Chemplast Sanmar IPO. It may list at around ₹490 against its issue price band of ₹530 to ₹541 per equity share."

MINT PREMIUM See All

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!