NSDL, Aditya Infotech, Sri Lotus Developers and M&B Engineering IPO GMPs soar up to 43% - check details

Grey market premiums (GMPs) for the initial public offerings (IPOs) of National Securities Depository Ltd (NSDL), Aditya Infotech Ltd, Sri Lotus Developers and M&B Engineering have witnessed a sharp rise, buoyed by strong subscription trends in the primary market.

According to market trackers monitoring unofficial grey market activity, GMPs for these four companies have surged up to 43 percent over their respective issue prices.

NSDL’s IPO continued to draw robust demand on the second day of bidding. The Rs 4,011-crore issue was fully subscribed within hours of opening and on Day 2 saw subscription of 4.63 times, as per NSE data at 4 p.m. The retail and non-institutional investor (NII) segments led the interest.

NSDL IPO continues to see robust subscription on Day 2, booked 3 times so far; GMP soars

Aditya Infotech, which markets video surveillance products under the ‘CP Plus’ brand, saw heavy oversubscription on the third day of its IPO. The Rs 792-crore issue was subscribed nearly 100 times by July 31.

The Rs 792-crore IPO of Sri Lotus Developers also garnered strong investor response, recording over nine times subscription on its second day.