With LG Electronics IPO and Tata Capital IPO generating significant interest in the primary market this week, three additional ones—Canara Robeco IPO, Rubicon Research IPO, and Canara HSBC Life IPO—are set to join the fray.
Prior to the launch of the public offerings, investors are paying close attention to the grey market premium trends, valuations, and various other factors. Rubicon Research IPO GMP appears to be appealing, followed by the Canara HSBC Life IPO GMP and Canara Robeco IPO GMP.
Let’s take a look at the grey market premium trends:
Rubicon Research IPO GMP today
Rubicon Research IPO GMP today is +80. This indicates Rubicon Research share price is trading at a premium of ₹80 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rubicon Research is indicated at ₹565 apiece, which is 16.49% higher than the IPO price of ₹485.
Based on the activities of the grey market over the past week, today’s IPO GMP shows an upward trend and is anticipated to have a robust listing. The lowest GMP recorded is ₹0.00, whereas the highest GMP stands at ₹80, as per experts.
Canara Robeco IPO GMP today
Canara Robeco IPO GMP today is +35. This indicates Canara Robeco share price is trading at a premium of ₹35 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Canara Robeco is indicated at ₹301 apiece, which is 13.16% higher than the IPO price of ₹266.
According to the grey market activities over the past four sessions, the IPO GMP is trending upward today and is anticipated to have a robust listing. Experts note that the lowest GMP stands at ₹0.00, whereas the highest GMP is ₹35.
Canara HSBC Life IPO GMP today
Canara HSBC Life IPO GMP today is +14. This indicates Canara HSBC Life share price is trading at a premium of ₹14 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Canara HSBC Life is indicated at ₹120 apiece, which is 13.21% higher than the IPO price of ₹106.
According to the grey market activity observed in the last three sessions, the IPO GMP is rising today and is anticipated to have a solid listing. The minimum GMP recorded is ₹0.00, whereas the maximum GMP stands at ₹14, as per expert opinions.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
IPO Details
Canara Robeco Asset Management Company IPO price band has been set between ₹253 and ₹266 per share, resulting in a valuation of approximately ₹5,300 crore at the upper limit. The ₹1,326 crore Canara Robeco IPO is set to open for subscription on October 9 and will close on October 13. The bidding for anchor investors will take place for one day on October 8, as announced publicly. The Canara Robeco IPO is exclusively an Offer For Sale (OFS) of 4.98 crore equity shares with no fresh issue component.
Rubicon Research IPO price band has been established at ₹461 to ₹485 per share for its forthcoming share sale. The Mumbai-based firm aims to raise ₹1,377.5 crore through its IPO, which will also be open for subscription starting October 9.
According to a statement, the company intends to utilize the net proceeds from the fresh issue for prepayment or scheduled repayment of a portion of certain existing borrowings, funding inorganic growth through undisclosed acquisitions, other strategic initiatives, and general corporate expenses. The issue will close on October 13, with the anchor investor bidding opening for a single day on October 8.
For the Canara HSBC Life Insurance IPO price band has been set between ₹100 and ₹106 per share, targeting a valuation of around ₹10,000 crore at the upper limit.
The insurer’s ₹2,516-crore public offering is scheduled to open for subscription on October 10 and will end on October 14. The bidding for anchor investors will be available for one day on October 9, as indicated in a public announcement. The Canara HSBC Life IPO is a total offer for sale (OFS) of 23.75 crore equity shares by promoters and an investor.
In the OFS, Canara Bank is set to sell 13.77 crore equity shares, representing a 14.5% stake; HSBC Insurance (Asia-Pacific) Holdings Ltd will divest 47.5 lakh shares or 0.5% holding; and Punjab National Bank plans to sell 9.5 crore equity shares, equivalent to a 10% stake.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
