The maiden public issue of Harsha Engineers International continued to attract a healthy premium in the grey market as it opened for subscription on Wednesday, September 14, the first day of bidding.
The shares traded at more than 60 percent premium in the grey market, analysts said.
Generally, investors look at the grey market premium to get an idea of the expected listing price of a particular initial public offering (IPO). Such trading starts after the company announces the price band and continues till the actual listing of the shares on the bourses.
Notably, the public issue was fully subscribed on its first day of bidding, indicating good demand from all classes of investors.