Now Reading: Shiprocket IPO GMP signals 37% listing gain, beats Behari Lal
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Shiprocket IPO GMP signals 37% listing gain, beats Behari Lal
Both Shiprocket and Behari Lal Engineering IPOs were oversubscribed over 100 times on their final day of bidding on August 14. Shiprocket’s grey market premium (GMP) of Rs 36 points to a…
The Story in Brief
Both Shiprocket and Behari Lal Engineering IPOs were oversubscribed over 100 times on their final day of bidding on August 14. Shiprocket’s grey market premium (GMP) of Rs 36 points to a 37.11% listing gain from the upper price band of Rs 97, outpacing Behari Lal Engineering’s implied 29.12% gain from its GMP of Rs 83 and upper band of Rs 285.
Shiprocket’s book-build issue totals Rs 1,617.48 crore, with a fresh issue of Rs 885.50 crore and an offer for sale of Rs 731.98 crore. Behari Lal Engineering’s issue is Rs 301.62 crore, comprising a fresh issue of Rs 93 crore and an OFS of Rs 208.62 crore. Allotment for both is expected on August 17, with tentative listing on NSE and BSE on August 19.
The Indian Opinion
Grey market premiums are speculative and not official, yet some investors treat them as a sure-shot indicator. Both issues have seen massive oversubscription, but that reflects hype as much as fundamentals. A 100-times subscription does not guarantee identical listing-day gains; retail investors should compare company financials and industry outlook rather than chasing GMP numbers alone. The real test will be how both stocks perform on August 19 after listing.
Sources (2): ndtvprofit.com, ndtvprofit.com (2)
This story was synthesised by AI from the 2 sources linked above.
