PremiumUniparts IPO: After three days bidding for the initial public offer (IPO) of Uniparts India Limited bidders and market observers are eagerly waiting for Uniparts IPO allotment date, which is most likely on 7th December 2022. In three days bidding from 30th November to 2nd December 2022, the public issue worth ₹835.61 crore got subscribed 25.32 times whereas its retail portion was subscribed 4.63 times. The QIB portion of the public offer got subscribed 67.14 times. Meanwhile, after strong response by investors on last date of bidding, grey market has gone slightly more positive on the public issue. As per the market observers, shares of Uniparts India Ltd are available at a premium of ₹60 per equity share in grey market today.
According to market observers, Uniparts IPO grey market premium today is ₹60, which is ₹4 higher from its yesterday's GMP of ₹56. They said that Uniparts IPO GMP has managed to rise despite Dalal Street snapping its eight days winning streak on Friday. But, due to the strong response given by investors to the public issue, grey market sentiments have further improved. They said that dollar index hitting three and half months low may work as trend reversal on Dalal Street again and the equity market may further become bullish after the profit booking trigger on Friday.
Market observers said that Uniparts IPO GMP today is ₹60, which means grey market is expecting that Uniparts IPO listing would be around ₹637 ( ₹577 + ₹60), which is around 10 per cent higher from Uniparts IPO price band of ₹548 to ₹577 per equity share. They said that grey market is signaling that Uniparts IPO may have a positive listing with up to double digit listing premium.
However, market experts maintained that grey market premium should not be taken much seriously as it has nothing to do with the company's financials. They went on to add that GMP is a non-regulated figure that can be speculative as well. Observers said that bidders to stick with their convictions they have developed after scanning company's balance sheet.