Now Reading: Molbio Diagnostics IPO enters day 2; GMP signals 15.7% listing gain
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Molbio Diagnostics IPO enters day 2; GMP signals 15.7% listing gain
Molbio Diagnostics IPO enters day 2; GMP signals 15.7% listing gain
The Rs 939.70 crore initial public offering of Molbio Diagnostics entered its second day of bidding on August 11. The issue, which opened on August 10 and closes on August 12, has…
The Story in Brief
The Rs 939.70 crore initial public offering of Molbio Diagnostics entered its second day of bidding on August 11. The issue, which opened on August 10 and closes on August 12, has a price band of Rs 768-807 per share. At the upper end, retail investors need Rs 14,526 for one lot of 18 shares.
The IPO was subscribed 0.83 times on day one, with the retail portion at 0.77 times and NII at 0.73 times. The grey market premium stood at Rs 127 on August 10, down from Rs 220 on August 6, signalling a potential listing gain of about 15.74% over the upper price. The shares are scheduled to list on BSE and NSE on August 17.
The Indian Opinion
The grey market premium's wild swings, from Rs 220 to Rs 127 in four days, show that GMP is a volatile mood ring, not a guarantee. The 0.83-times subscription on day one suggests retail caution, yet brokerages are recommending the IPO for medium to long-term investors. The real test is whether the retail portion picks up in the final days. If it stays below one times, the GMP premium may be a mirage.
Sources (2): ndtvprofit.com, indiatoday.in
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
