The grey market is witnessing significant activity as multiple public issues opened for subscription in the primary market on December 19.
DAM Capital Advisors, Transrail Lighting and Mamata Machinery were among other issues, whose initial public offerings (IPOs) have garnered robust investor interest.
The IPOs, which opened on Thursday, are set to close after the three-day bidding process on December 23. All three offerings saw full subscription on the very first day, reflecting strong demand from investors across categories.
The enthusiasm for these IPOs has extended to the grey market, where the premiums are soaring. The shares of DAM Capital Advisors, Transrail Lighting, and Mamata Machinery are trading at a premium ranging from 40 percent to 80 percent above their issue prices.
Grey market premiums (GMP) indicate the additional price investors in the unregulated market are willing to pay over the IPO price. While GMP trends often hint at potential listing gains, the final listing price on the exchanges may vary based on broader market conditions and demand.
| IPO | Price | GMP | % Premium |
| DAM Capital Advisors | 283 | 152 | 53.71 |
| Transrail Lighting | 432 | 177 | 40.97 |
| Mamata Machinery | 243 | 200 | 82 |
Key Details of the IPOs
DAM Capital Advisors has set its price band at Rs 269-283 per share. The IPO opened for subscription on December 19 and will close on December 23.
Transrail Lighting Ltd, a leading player in the power transmission infrastructure sector, launched its Rs 839-crore IPO in the price band of Rs 410-432 per share. The issue opened on December 19 and will close on December 23.
Mamata Machinery is raising Rs 179 crore through its IPO. The price band has been fixed at Rs 230-243 per share. The issue, which also opened on December 19, will conclude on December 23.
Mamata Machinery’s IPO witnessed overwhelming demand, getting fully subscribed within minutes of opening. The other two offerings, DAM Capital Advisors and Transrail Lighting, also saw strong participation from institutional and retail investors alike.
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