Bharat Coking Coal IPO GMP jumps to 48% on strong demand; Amagi Media Labs GMP at 9%

Bharat Coking Coal IPO GMP jumps to 48% on strong demand.

The grey market premium (GMP) for Bharat Coking Coal initial public offering (IPO) jumped to about 48 percent on strong investor demand, with the issue seeing heavy subscription on the first day of bidding.

The IPO of Bharat Coking Coal, a Coal India arm, was subscribed nearly eight times on the opening day and was fully subscribed within minutes of opening on Friday.

According to grey market tracking platforms, Bharat Coking Coal shares are commanding a premium in the range of 44–48 percent. Investorgain has quoted a GMP of Rs 10.25, indicating a potential listing gain of 44.57 percent, while IPO Watch has pegged the premium at 47.83 percent.

The company on Thursday said it has raised over Rs 273 crore from anchor investors. The Rs 1,071-crore IPO will close on January 13.

The price band for the issue has been fixed at Rs 21 to Rs 23 per share. At the upper end of the band, the company is valued at over Rs 10,700 crore.

Meanwhile, grey market premium for Amagi Media Labs shares is in the range of 10–12 percent. Investorgain has quoted a GMP of Rs 36, implying a listing gain of 9.97 percent, while IPO Watch has estimated the premium at 11.91 percent.

Amagi Media Labs, a cloud-based software-as-a-service company that helps media firms stream and monetise digital video content, said on Thursday that its Rs 1,788-crore IPO will open for subscription on January 13.

The issue is priced in the band of Rs 343 to Rs 361 per share and will close on January 16. Bidding for anchor investors will be held on January 12, the Bengaluru-based company said in a public announcement.

At the upper end of the price band, the company is valued at over Rs 7,800 crore.

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