Patel Retail, Shreeji Shipping, Vikram Solar IPO GMPs surge ahead of Aug 19 issue opening; check key details

Patel Retail, Shreeji Shipping, Vikram Solar IPO GMPs surge ahead of Aug 19 issue opening.

The Grey market premiums (GMPs) of Patel Retail, Shreeji Shipping Global and Vikram Solar have risen in the run-up to their initial public offerings (IPOs) scheduled to open on August 19, according to websites tracking unofficial market activity.

Patel Retail shares are commanding a GMP of about 13 percent, with Investorgain pegging it at Rs 34 per share, indicating a potential listing gain of 13.33 percent.

Shreeji Shipping shares are quoting a GMP of around 12 percent. As per Investorgain, the premium stands at Rs 30 per share, implying a listing gain of 11.9 percent.

Vikram Solar shares are commanding a GMP of over 19 percent in the grey market, the data showed.

Maharashtra-based Patel Retail, which runs a supermarket chain, has fixed a price band of Rs 237-255 per share. The IPO will open on August 19 and close on August 21, with anchor bidding on August 18. Share 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, in addition to an offer for sale (OFS) of up to Rs 25.56 crore by existing shareholders and promoters.

Gujarat-based Shreeji Shipping, which offers cargo handling, transportation, fleet chartering and equipment rental services, has set a price band of Rs 240-252 per share. The IPO, entirely a fresh issue of 1.6 crore shares, will amount to about Rs 410.71 crore at the top end.

The company provides 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 pieces of earthmoving equipment.

Solar module maker Vikram Solar has fixed a price band of Rs 315-332 per share for its Rs 2,079 crore IPO. The issue will comprise fresh equity shares worth up to Rs 1,500 crore and an OFS of over 1.74 crore shares valued at about Rs 579.37 crore at the upper price band, by its promoters.

The Kolkata-based company’s maiden public issue will open on August 19 and close on August 21.

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