Shringar House of Mangalsutra, Dev Accelerator see rise in GMP ahead of IPO opening on Sep 10 - Key details

Shringar House of Mangalsutra, Dev Accelerator see rise in GMP ahead of IPO opening on Sep 10.

Shares of Shringar House of Mangalsutra and Dev Accelerator are quoting higher premiums in the grey market ahead of their initial public offerings (IPOs) opening on September 10.

According to platforms tracking grey market activity, Shringar House of Mangalsutra shares are commanding a premium of Rs 24, indicating a potential listing gain of 14.55 percent.

The jewellery firm has fixed a price band of Rs 155-165 per share for its Rs 401-crore maiden public issue. The IPO will remain open for subscription from September 10 to 12. Proceeds from the fresh issue will be utilised for working capital requirements and general corporate purposes.

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Dev Accelerator shares are quoting a grey market premium of Rs 11, implying a listing gain of 18.03 percent.

The flexible office space provider has set a price band of Rs 56-61 per share for its Rs 143-crore IPO. At the upper end of the price band, the company’s valuation stands at Rs 550 crore. The issue will be open for subscription during September 10-12.

Shares of both companies are scheduled to be listed on September 17, with allotment expected by September 15.

A total of three mainboard issues are opening on September 10. Along with, Shringar House of Mangalsutra and Dev Accelerator, Urban Company's Rs 1,900-crore initial public offering (IPO) will open on September 10 and close on September 12, with a price band of Rs 98 to Rs 103 per share.

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