Syrma SGS Technologies IPO: GMP jumps after closure of bidding
Premium- Syrma SGS Technologies IPO GMP today is ₹48, say market observers
Syrma SGS Technologies IPO: Four day subscription of the public issue worth ₹840 crore ended on Thursday. The issue got subscribed 32.61 times whereas its retail portion was subscribed 5.53 times. This strong response by the bidders has been noticed by the grey market too. According to market observers, shares of Syrma SGS Technologies are available in grey market at a premium of ₹48 per equity share, which is ₹12 higher from its Thursday morning premium of ₹36 per equity share.
Syrma SGS Technologies IPO GMP
Market observers said that Syrma SGS Technologies IPO grey market premium (GMP) today is ₹48, which is ₹12 higher from its grey market premium on Thursday morning. They said that rise in Syrma SGS Technologies IPO GMP today is because of the strong secondary market sentiments as Indian stock market ended in green zone on eighth straight session on Thursday. This has gone down well at the grey market and it went further bullish on the public issue. During subscription, Syrma SGS Technologies IPO GMP surged from ₹20 to ₹48 that augurs well about the public offer and market observers expected it to translate in terms of listing premium. However, they said that much depends upon the market sentiments on the listing day.
What this GMP means?
Market observers went on to maintain that Syrma SGS Technologies IPO today is ₹48, which means grey market is expecting that Syrma SGS Technologies IPO listing would be around ₹268 ( ₹220 + ₹48), which is around 22 per cent higher from its price band of ₹209 to ₹220 per equity share. So, grey market is signaling that investors may get more than 20 per cent listing gain from Syrma SGS Technologies IPO.
However, stock market experts said that GMP is not an ideal indicator about listing premium because it has nothing to do with the financial of the company. They advise investors to stick with the basics and look at the balance sheet of the company as it will reflect concrete picture of the company's fundamentals.
Syrma SGS Technologies IPO allotment date
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The tentative date for Syrma SGS Technologies IPO allotment date is 23rd August 2022.
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