Now Reading: LAPL Automotive lists at 44% premium on BSE SME, then slips
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LAPL Automotive lists at 44% premium on BSE SME, then slips
Shares of LAPL Automotive made a strong debut on the BSE SME on Thursday, listing at ₹135, a 43.62% premium over the issue price of ₹94. The premium came even as the…
The Story in Brief
Shares of LAPL Automotive made a strong debut on the BSE SME on Thursday, listing at ₹135, a 43.62% premium over the issue price of ₹94. The premium came even as the benchmark Sensex was down 0.23% at 77,791.
Profit booking soon dragged the stock to ₹129, near its 5% lower price band. By 10:05 AM, it was at ₹131.01. Livemint reports that grey market sources had expected a 53% premium based on a GMP of ₹50 before listing.
The Indian Opinion
The gap between the 44% listing gain and the grey market whisper of 53% is a reminder that retail euphoria can overshoot. Too often, IPO coverage treats grey market premiums as gospel. The real test is not the first trade but whether the stock holds above ₹131 in the coming sessions. One number to watch: the issue was subscribed 241 times, which suggests a lot of flippers. Will they stay or sell on every bounce?
Sources (2): bseindia.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
