Wakefit Innovations and Corona Remedies were quoting premiums of up to 18 percent in the grey market on Wednesday, days before their initial public offerings open for subscription.
Grey market premium (GMP) is an unofficial indicator of investor sentiment and potential listing performance of an IPO.
According to platforms tracking grey market activity, Wakefit shares were trading at a premium of about 18 percent. Investorgain pegged the GMP at Rs 231, implying a listing gain of around 18.46 percent.
Wakefit, a home and furnishings company, plans to raise Rs 1,289 crore through its maiden public offer, which opens on December 8 and closes on December 10. The company has fixed a price band of Rs 185-195 per share, valuing it at nearly Rs 6,400 crore. Allocation to anchor investors is scheduled for December 5, and the stock is expected to list on December 15.
Shares of pharma firm Corona Remedies were quoting a premium of about 15 percent in the unregulated market.
Corona Remedies, backed by private equity firm ChrysCapital, has set a price band of Rs 1,008-1,062 per share for its Rs 655.37 crore IPO. The issue will open on December 8 and close on December 10. The company is slated to list on December 15.
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