Wakefit Innovations and Corona Remedies are set to hit the primary market with their initial public offerings (IPOs) for public subscription on Monday.
Grey market indicators showed firm interest ahead of the launches. Platforms tracking unofficial market activity pegged the grey market premium (GMP) for both issues as high as 31 percent.
Investorgain quoted a GMP of Rs 330 for Corona Remedies, implying a potential listing gain of about 31 percent, while Wakefit’s GMP stood at more than 18 percent.
Corona Remedies, a pharmaceutical company backed by private equity firm ChrysCapital, has fixed a price band of Rs 1,008–1,062 per share for its IPO, valuing the firm at around Rs 6,500 crore.
The Rs 655.37-crore issue is an offer for sale by promoters and existing shareholders. The offer will open on December 8 and close on December 10, according to its public announcement. Allocation to anchor investors is scheduled for December 5. The company is expected to list on December 15.
Wakefit Innovations aims to raise Rs 1,289 crore through its IPO, which will open for subscription on December 8. The home and furnishings company has set a price band of Rs 185–195 per share, valuing it at nearly Rs 6,400 crore. The issue will close on December 10, and anchor investors will be allotted shares on December 5. Wakefit is also slated to list on December 15.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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