Brigade Hotel, GNG Electronics, Indiqube Spaces IPO GMPs surge up to 42% amid strong investor interest - check details

Brigade Hotel, GNG Electronics, Indiqube Spaces IPO GMPs surge up to 45% amid strong investor interest.

The initial public offerings (IPOs) of Brigade Hotel Ventures, GNG Electronics and IndiQube Spaces witnessed strong investor interest in the primary market, with grey market premiums (GMPs) rising as much as 42 percent, according to Investorgain.

Brigade Hotel Ventures Ltd's IPO opened for subscription on Thursday and was subscribed 63 percent on the first day. The public issue will remain open till July 28. The price band has been fixed at Rs 85–90 per share.

Meanwhile, IndiQube Spaces’ Rs 700-crore IPO was fully subscribed on the second day of bidding. The offer received 2.54 times subscription, as per data available on the NSE website.

GNG Electronics Ltd’s IPO, which opened earlier this week, continued to see robust demand. On the second day of subscription, the offer received bids for 38.16 crore shares against 1.41 crore shares on offer.

The category for Non-Institutional Investors was subscribed 68.57 times, while the Retail Individual Investors (RIIs) portion saw 23.01 times subscription. The Qualified Institutional Buyers (QIBs) segment was subscribed 2.21 times. The company had raised Rs 138 crore from anchor investors on Tuesday.

The Rs 460-crore IPO will close on July 25. The price band is set at Rs 225–237 per share, valuing the company at over Rs 2,700 crore at the upper end.

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