Now Reading: Milky Mist Dairy IPO opens Aug 11, GMP signals 19% listing gain
-
01
Milky Mist Dairy IPO opens Aug 11, GMP signals 19% listing gain
Milky Mist Dairy IPO opens Aug 11, GMP signals 19% listing gain
Milky Mist Dairy Food's initial public offering (IPO) opens on August 11 with a price band of Rs 143 to Rs 151 per share. The issue aims to raise Rs 1,553 crore…
The Story in Brief
Milky Mist Dairy Food's initial public offering (IPO) opens on August 11 with a price band of Rs 143 to Rs 151 per share. The issue aims to raise Rs 1,553 crore through a fresh issue of shares and an offer for sale. According to NDTV Profit, the company's shares are trading at a grey market premium (GMP) of around Rs 29, indicating a potential listing gain of 19% over the upper price band.
The IPO will close on August 13, with allotment finalisation expected by August 16 and listing on the BSE and NSE tentatively on August 20. Investors can apply for a minimum of 98 shares, which amounts to a lot size of Rs 14,798. Proceeds from the fresh issue will be used to fund capital expenditure for expanding manufacturing capacity and repaying debt.
The Indian Opinion
Grey market premiums get breathless coverage, but they are whispers from a tiny, unregulated corner. A 19% GMP is not a measure of value. It merely reflects the sentiment of speculators betting on quick flips. Serious investors should ignore the noise and focus on the company's fundamentals, debt levels, milk procurement costs, and competition from Amul and Mother Dairy. The real test will be the subscription data from qualified institutional buyers on day three.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
