Upcoming IPOs: PhysicsWallah, Pine Labs, Emmvee Photovoltaic IPO GMPs rise ahead of share sale

PhysicsWallah, Pine Labs, Emmvee Photovoltaic IPO GMPs rise.

The grey market premiums (GMPs) of upcoming initial public offerings (IPOs) of PhysicsWallah, Pine Labs and Emmvee Photovoltaic Power have risen in the unregulated market ahead of their issue openings next week.

According to websites tracking grey market activity, the premiums on these IPOs have increased in the range of Rs 5–20 per share, reflecting strong investor demand for the companies’ stock ahead of listing.

A rise in GMP is often seen as an indicator of positive market sentiment toward an IPO, suggesting that investors are willing to pay a higher price than the official issue band to secure allotment.

Edtech firm PhysicsWallah has fixed a price band of Rs 103–109 per share for its Rs 3,480-crore public issue, which will open on November 11 and close on November 13. Shares for anchor investors will be allocated on November 10. At the upper end of the price band, the company is seeking a valuation of around Rs 31,500 crore.

Fintech major Pine Labs has set a price band of Rs 210–221 per share for its Rs 3,900-crore IPO, aiming for a valuation of over Rs 25,300 crore. The issue will open for subscription on November 7 and close on November 11, while allocation to anchor investors is scheduled for November 6.

Solar module and cell manufacturer Emmvee Photovoltaic Power has announced a price band of Rs 206–217 per share for its Rs 2,900-crore IPO. At the upper end, the company is eyeing a valuation of more than Rs 15,000 crore. The issue will open on November 11 and close on November 13, with anchor allocation on November 10.