Bikaji Foods IPO: What GMP (grey market premium) signals after two days of subscription
2 min read . Updated: 05 Nov 2022, 11:12 AM IST
Premium- Bikaji Foods IPO GMP today is ₹40, which is ₹13 higher from its Friday GMP, say market observers
Bikaji Foods IPO: The initial public offer (IPO) of Bikaji Foods International Ltd got fully subscribed on second day of its subscription. Apart from this, after two days of successive losses, Indian secondary market witness trend reversal as key benchmark indices ended higher on the weekend session. These developments have probably gone down well at grey market as well. According to market observers, shares of Bikaji Foods International Ltd are available at a premium of ₹40 in grey market today, which is ₹13 higher from its yesterday premium of ₹27.
Bikaji Foods IPO GMP today
As per the stock market observers, Bikaji Foods IPO GMP today is ₹40, which is ₹13 higher from its Friday grey market premium (GMP) of ₹27. They said that rise in Bikaji Foods IPO GMP today can be attributed to two major reasons — trend reversal on Dalal Street on Friday and the public issue getting fully subscribed on day two of subscription. They said that grey market sentiment may further shot up if the market opens higher on Monday as Bikaji Foods IPO GMP was once at ₹100 ahead of subscription opening.
What this GMP mean?
Market observers maintained that Bikaji Foods IPO GMP today at ₹40 means grey market is expecting this IPO to list at around ₹340 apiece levels ( ₹300 + ₹40), which is around 13 per cent higher from the Bikaji Foods IPO price band of ₹285 to ₹300 per equity share.
Bikaji Foods IPO subscription status
After two days of bidding, Bikaji Foods IPO subscription status suggests that the public issue worth ₹881.22 crore has been subscribed 1.48 times whereas its retail portion got subscribed 2.33 times.
Bikaji Foods IPO other details
The public issue opened for subscription on 3rd November 2022 and it will remain open for bidding till 7th November 2022. This means, investors have just one day in their hand to apply for the IPO as bidding for the public offer will end on Monday.
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As per the tentative schedule of Bikaji Foods IPO, allotment date is most likely on 11th November whereas Bikaji Foods IPO listing date is likely to happen on 16th November 2022.
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