IPO GMPs: Riding on the market sentiment, Meesho, Vidya Wires and Aequs are set to open their Initial Public Offerings (IPOs) for subscriptions next week, joining a wave of companies tapping the public markets to raise capital.
Prior to the launch of the IPOs, investors are paying close attention to the grey market premium (GMP) trends, valuations, and various other factors. The GMP of both Meesho IPO and Aequs IPO appears to be appealing, followed by the Vidya Wires IPO.
As of Saturday, 29 October, all three upcoming IPOs are signalling potential for healthy listing gains. Grey market trends suggest strong investor interest in the companies, ahead of their market debuts.
Here’s a snapshot of the grey market premium trends of these companies:
Meesho IPO GMP today
Meesho IPO GMP today is +36. This indicates the e-commerce platform’s share price is trading at a premium of ₹36 in the grey market, according to market observers.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Meesho is indicated at ₹147 apiece, which is 32% higher than the IPO price of ₹111.
Aequs IPO GMP today
Aequs IPO GMP today is +40. This indicates that the manufacturing company’s share price is trading at a premium of ₹40 in the grey market, market observers said.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Aequs is indicated at ₹164 apiece, which is 32% higher than the IPO price of ₹124.
Vidya Wires IPO GMP today
Vidya Wires IPO GMP today is +8. This indicates the company’s share price is trading at a premium of ₹8 in the grey market, according to market observers.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vidya Wires is indicated at ₹60 apiece, which is 15 % higher than the IPO price of ₹52.
IPO details: Opening date, price band etc.
— Meesho IPO: The Y Combinator-backed company’s price band has been set between ₹105 and ₹111 per equity share of the face value of Re 1. The ₹4,250 IPO is set to open for subscriptions on Wednesday, 3 December and will close on Friday, 5 December.
The allocation to anchor investors is scheduled to take place on Tuesday, 2 December. The company’s market debut is expected to take place on December 10.
The IPO is a mix of a fresh issue and an offer for sale, with the company looking to raise ₹4,250 crore via fresh share sale, while public shareholders will sell 10.55 crore equity shares via the OFS.
— Aequs IPO: The precision components manufacturer operating in the aerospace and consumer segments has set the price band for its upcoming IPO at ₹118-124 per share. It will open for subscriptions on Wednesday, 3 December, and will close on Friday, December 5.
Meanwhile, the anchor book for the offer will open on Tuesday, 2 December. The company’s market debut is expected to take place on December 12.
The IPO comprises a fresh issue of shares worth ₹670 crore, along with an Offer For Sale (OFS) of 2.03 crore shares valued at ₹252 crore by promoters and existing investors, taking the total issue size to ₹922 crore.
— Vidya Wires IPO: The Gujarat-based manufacturer of winding and conductivity products has fixed a price band of ₹48 to ₹52 per equity share of face value ₹1 each. The issue will remain for subscriptions from 3-5 December.
The anchor investor bidding window will open a day earlier on Tuesday, December 2. The tentative listing date has set at 10 December.
Vidya Wires plans to raise ₹300 crore through the IPO route, which comprises a fresh equity issue of ₹274 crore and an offer-for-sale (OFS) of ₹26 crore. In the OFS portion, promoter shareholders Shyamsundar Rathi and Shailesh Rathi will offload 50.01 lakh shares.
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