Vikram Solar, Patel Retail, among 4 IPOs to see GMP rise ahead of allotment later today - Check details

Vikram Solar, Patel Retail, among 4 IPOs to see GMP rise ahead of allotment finalisation.

The share allotment of four recently closed initial public offerings (IPOs) — Vikram Solar, Patel Retail, Gem Aromatics and Shreeji Shipping — is expected to be finalised later tonight.

Investors who bid for the issues can check their allotment status on the websites of the respective registrars, as well as on the BSE and NSE portals.

All four IPOs have seen considerable activity in the grey market, where the Grey Market Premium (GMP) is tracked as an indicator of investor sentiment. A higher GMP suggests that shares are likely to list at a premium over their issue price.

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Vikram Solar’s Rs 2,079-crore IPO, subscribed 55 times during August 19–21, is likely to see its allotment completed tonight. The company had fixed the price band at Rs 315–332 a share.

Gem Aromatics’ Rs 451-crore IPO also closed with strong demand and its allotment is expected to be finalised today.

Patel Retail’s Rs 242.76-crore IPO, subscribed 95.70 times, will have its allotment finalised later tonight. The issue, open between August 19–21 at a price band of Rs 237–255, was managed by Bigshare Services Private Limited as the registrar. Investors can check their allotment status using their PAN or application number.

Shreeji Shipping’s Rs 411-crore IPO, subscribed 58.10 times at a price band of Rs 240–252, is also likely to have its allotment completed later in the evening.

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