DreamFolks Services IPO: GMP (grey market premium) signals strong listing gain

DreamFolks IPO GMP: Grey market is trying to signal that shares would list at around 30 per cent premium, say market observers. (Shutterstock) — DreamFolks IPO GMP: Grey market is trying to signal that shares would list at around 30 per cent premium, say market observers. **(Shutterstock)**

2 min read . Updated: 04 Sep 2022, 01:21 PM IST Asit Manohar

DreamFolks IPO GMP today is ₹110, say market observers

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DreamFolks Services IPO (initial public offering) is likely to hit secondary market on Tuesday this week as the most likely DreamFolks IPO listing date is 6th September 2022. Indian bourses are expected to issue notice in this regard on Monday. However, grey market has remained bullish on DreamFolks Services shares. According to market observers, shares of DreamFolks Services are available at a premium of ₹110, which is quite praiseworthy as the stock has remained above ₹100 levels after breaching the three figure mark last week.

DreamFolks IPO GMP today

market observers said that DreamFolks IPO GMP (grey market premium) today is ₹110 that means the scrip has remained above ₹100 apiece after hitting the three digit mark last week. They said that the stock has remained in high demand in the grey market, which means negative market sentiments in last two sessions have failed to dent the prospect of DreamFolks shares in grey market. They said that such a strong performance of DreamFolks shares in grey market reflects that the stock may have a strong listing on 6th September on BSE and NSE.

What this DreamFolks IPO GMP means?

Market observers said that DreamFolks IPO GMP today is ₹110 per equity share that means grey market is expecting that DreamFolks IPO listing would be around ₹436 ( ₹326 + ₹110), which is around 34 per cent higher from its price band of ₹308 to ₹326 per equity share. They said that grey market is signaling that DreamFolks IPO listing may deliver around 30 per cent listing gain to its allottees on 6th September 2022.

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However, stock market experts said that grey market premium should not be taken serious as it has nothing to do with the financials of the company. They advised allottees to go through the balance sheet of the company and then decided about the prospect of listing gains as balance sheet would give concrete fundamental picture of the IPO which has been proposed for listing on BSE and NSE.

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