The grey market premiums (GMPs) for Patel Retail and Shreeji Shipping rose ahead of their initial public offerings (IPOs) set to open next week in the primary market.
According to websites tracking unofficial market activity, Patel Retail shares are commanding a GMP of about 12 percent. Investorgain pegged the GMP at Rs 30 per share, implying a listing gain of 11.76 percent.
Shreeji Shipping shares are quoting a GMP of around 10 percent. Investorgain placed the GMP at Rs 25 per share, indicating a listing gain of 9.92 percent.
Maharashtra-based Patel Retail, which operates a retail supermarket chain, has fixed a price band of Rs 237-255 per share for its IPO. The issue will open on August 19 and close on August 21, with anchor bidding on August 18. The allotment will be finalised on August 22, and listing is scheduled for August 26.
At the upper end of the price band, the fresh issue size will be about Rs 217.21 crore, along with an offer for sale (OFS) of up to Rs 25.56 crore by existing shareholders and promoters.
Patel Retail sets price band 15% below it's pre-IPO round
Gujarat-based Shreeji Shipping Global, which provides cargo handling, transportation, fleet chartering and equipment rental services, has set a price band of Rs 240-252 per share for its IPO. The issue will open on August 19 and close on August 21, with anchor bidding on August 18.
The IPO will be a pure fresh issue of 1.6 crore shares, amounting to about Rs 410.71 crore at the upper end of the price band.
The company offers shipping and logistics solutions for dry bulk cargo at ports and jetties in India and Sri Lanka. It operates a fleet of over 80 vessels, including barges, mini bulk carriers, tug boats and floating cranes, along with more than 370 earthmoving equipment.
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