Now Reading: Jindal Supreme IPO GMP surges to Rs 30, Hero Motors premium drops
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Jindal Supreme IPO GMP surges to Rs 30, Hero Motors premium drops
Jindal Supreme IPO GMP surges to Rs 30, Hero Motors premium drops
Jindal Supreme IPO's grey market premium (GMP) rose to Rs 30 on September 17, up from Rs 24 a day earlier, implying a 32.26% unofficial gain over the upper price band of…
Jindal Supreme IPO's grey market premium (GMP) rose to Rs 30 on September 17, up from Rs 24 a day earlier, implying a 32.26% unofficial gain over the upper price band of Rs 93. The issue was subscribed 31.50 times, with retail at 39.74 times, according to NSE data. The IPO opened on September 16 and closes on September 18.
Hero Motors IPO saw its GMP fall sharply to Rs 7 on September 17 from Rs 24 on September 14-15, indicating an 8.33% unofficial premium at the upper price of Rs 84. The IPO was subscribed 3.36 times, with retail at 5.02 times and QIB at just 0.07 times. The Rs 1,000 crore issue includes a fresh issue of Rs 600 crore and an OFS of Rs 400 crore. Brokerages including Anand Rathi and BP Wealth have recommended 'Subscribe – Long Term' for Hero Motors, citing its powertrain business and e-mobility portfolio, NDTV Profit and Business Today report.
Indian Opinion Analysis
NDTV Profit leads with the sharp divergence in grey market sentiment, framing Jindal Supreme's rising GMP as a sign of strength and Hero Motors' falling premium as a 'significant cooling'. Business Today focuses on Hero Motors' subscription numbers and positive broker recommendations, omitting any mention of the GMP decline. The balanced reading is that Hero Motors has solid retail demand and analyst backing, but its weak institutional subscription (QIB at 0.07 times) and sinking GMP suggest cautious near-term listing expectations. The final subscription data on September 18 will clarify the true demand picture.
The contrasting frames reflect different editorial choices: one emphasising market sentiment (GMP), the other institutional analysis (brokerage ratings). Neither source notes that GMP is an unofficial, volatile indicator. Investors should weigh the strong retail subscription against the weak QIB interest and falling premium.
Coverage: 2 sources, 2 neutral
Sources (2): ndtvprofit.com (neutral report), businesstoday.in (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry.
Updated: this story now draws on 2 sources.
