Syrma SGS Technologies IPO: GMP jumps again as focus shifts to allotment date
Premium- SGS Technologies IPO GMP today is ₹59, say market observers
Syrma SGS Technologies IPO: After closure of subscription of the public offer of Syrma SGS Technologies Ltd, focus has now shifted towards Syrma SGS Technologies IPO allotment date, which is most likely on 23rd August 2022. Meanwhile, ahead of share allotment, grey market has gone bullish on Syrma SGS Technologies shares. According to market observers, shares of Syrma SGS Technologies is available at a premium of ₹59 per equity share in the grey market.
Syrma SGS Technologies IPO GMP today
According to market observers, Syrma SGS Technologies IPO grey market premium (GMP) today is ₹59, which is ₹13 higher from its Friday morning grey market premium of ₹46 per equity share. Market observers said that Syrma SGS Technologies IPO GMP has been rising after opening of subscription on 12th August 2022. In this period, Syrma SGS Technologies IPO grey market price has shot up from ₹20 to ₹59, which is mainly due to the positive market sentiments. They said that market sentiments in the week gone by was highly positive that translated into the rise of grey market premium of Syrma SGS Technologies IPO.
What this GMP means?
Market observers said that SGS Technologies IPO GMP today is ₹59, which means grey market is expecting that SGS Technologies IPO listing would be around ₹279 ( ₹220 + ₹59), which is around 27 per cent higher from its price band of ₹209 to ₹220 per equity share. So, grey market is expecting strong listing gain from SGS Technologies IPO.
However, stock market experts maintained that GMP is not an ideal indicator about the listing premium from an IPO. One should stick to the basics and look at the financials of the company, which gives concrete picture of the company's fundamentals.
SGS Technologies IPO details
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The tentative date for SGS Technologies IPO allotment is 23rd August 2022. The public offer is proposed for listing on both BSE and NSE and expected SGS Technologies IPO listing date is 26th August 2022.
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