Now Reading: Hy-Tech Engineers tops GMP among three IPOs listing soon
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Hy-Tech Engineers tops GMP among three IPOs listing soon
Hy-Tech Engineers has the highest grey market premium (GMP) among three initial public offerings set to list this week, according to market sources. The company's IPO, which closed on 14 March, is…
Hy-Tech Engineers has the highest grey market premium (GMP) among three initial public offerings set to list this week, according to market sources. The company's IPO, which closed on 14 March, is followed by Symbiotec Pharmalab and Skyways Air on GMP and subscription demand.
Hy-Tech Engineers raised Rs 12.54 crore through its IPO, priced at Rs 120 per share. Symbiotec Pharmalab's issue closed on 15 March at Rs 128 per share, while Skyways Air Services' IPO closed on 14 March at a price band of Rs 68-72 per share. All three offerings saw strong subscription, with Hy-Tech Engineers leading at 45 times on the final day.
The companies will list on the NSE SME platform. Dealers expect listing gains to follow the GMP trends, with Hy-Tech Engineers likely to see the highest premium on debut.
Indian Opinion Analysis
The grey market premium (GMP) is an unofficial indicator, not regulated by SEBI. It reflects investor sentiment before an IPO listing, but actual listing gains can diverge sharply on listing day. Hy-Tech Engineers, Symbiotec Pharmalab and Skyways Air are all SME IPOs, which typically see higher volatility and lower institutional scrutiny than main-board issues. SEBI's 2023 framework tightened SME listing rules, but retail appetite for small-ticket offerings remains strong. Investors tracking GMPs should note that these are cash-driven, off-market quotes with no regulatory backing. The final listing price on the BSE or NSE will determine actual returns for allotees.
Source: ndtvprofit.com
This brief was synthesised by AI from the source linked above.
