Sah Polymers | Shares of the company were trading at a 10-15% premium over the issue price in the grey market, analysts have said
Though reasonably priced, the sour market sentiments, coupled with the under-par debut of recent IPOs, sank the hopes of a strong listing by this electronics manufacturing services provider.
KFin Tech IPO is expected to be a victim of the market volatility as experts predict that the stock will debut on December 29 with marginal discount
Landmark Cars | Lower-than-expected response to its public issue, weakening sentiment in the secondary market and aggressive valuations may combine to have a negative impact on the listing performance, experts said.
Sula Vineyards IPO | On the grey market, trading in the stock has taken place at a 3-4 percent discount to the expected final issue price of Rs 357 per share, analysts said
Uniparts India | The grey market premium has been hovering around 10% over the final issue price of Rs 577 despite strong subscription, with analysts blaming market consolidation and OFS for lower-than-expected premium
The company’s shares could list at an 18-22 percent premium over the upper end of the IPO’s price band considering better utilisation of the funds raised and reasonable valuations, analysts said.
Neither the grey market suggest any big listing premium for Keystone Realtors. Its shares traded with just half a percent to one percent premium in the unlisted market, analysts said.
The muted response to its public issue, dependence for orders on parent company Inox Wind and tepid financial performance are expected to weigh on its listing performance. The debut price could be on par with or at discount
The scrip’s price in the grey market was more than Rs 230 above the issue price of Rs 587, analysts said. The grey market is an unofficial trading platform for IPO shares.
The speciality chemical company closed its public issue on November 11 and raised Rs 1,462 crore at upper end of price band of Rs 386-407 per share, while the non-banking finance company also closed its IPO on same day with mobilising around Rs 1,590 crore at Rs 474 per share.
Investors should also look at a few red flags on high ask valuations and a complete OFS issue as areas of concern, Prashanth Tapse of Mehta Equities said.
A major portion of the IPO was an offer for sale by existing investors and subscription numbers were lower than expected.
In the grey market, shares of the company are quoted at a tiny premium of 2-3 percent, indicating listing on par or at a discount.
Positive equity market environment, reasonable valuations, healthy demand from investors for the IPO, rising demand for aerospace and defence segments, and strong financial performance are key to the expected strong listing premium, analysts said.
Given the muted response to the IPO, high valuations (not only FY22 basis but also on Q1FY23 basis), IPO being an entirely offer for sale, and rising fears of global recession, the listing may be either at par or discount to the issue price of Rs 80 per share, experts said.
The listing premium is expected to be in the range of 35-45 percent over the issue price of Rs 59 a share, experts said, citing reasonable valuations, healthy financials in a competitive sector and the industry's robust growth prospects
Currently, Harsha Engineers traded with 42-48 percent premium in the grey market which is an unofficial platform for trading in IPO shares, analysts said.
The lower premium in the grey market may also impact the listing performance, experts say.
DreamFolks Services IPO was subscribed 56.68 times, garnering bids for 53.74 crore equity shares against an offer size of 94.83 lakh shares
Rainbow Children's IPO raised Rs 1,581 crore through its public issue that consisted of a fresh issue of Rs 280 crore and an offer for sale of Rs 1,301 crore by selling shareholders.
Campus' trading premium in the unlisted market (grey market) declined to Rs 60 per share on May 7, down from Rs 95 on May 4. The volatility and correction in secondary markets is one of key reasons for this fall in grey market premium.
Hariom Pipe Industries | The stock is showing a grey market premium of 16 percent with an estimated listing price of Rs 178 as against the IPO price of 153 a share, analysts said
All brokerage houses had an 'avoid' rating on the issue given the expensive valuations, high debt on its books and low margin profile.
Vedant Fashions IPO | Its financials were impacted in FY21 due to the pandemic-led lockdowns but the company managed to show strong performance in the first half of the financial year 2021-22