As companies are releasing their Q3 earnings, tomorrow’s IPO market will be active with five listings across both mainboard and SME segments. Here’s a quick look at the companies listing tomorrow and what their GMP indicates ahead of the listings.
IPOs scheduled to list on January 14
Two mainboard IPOs and three SME issues will debut on the stock market tomorrow.
Mainboard-
Capital Infra Trust InVIT
Quadrant Future Tek
SME Segment-
B.R. Goyal BSE SME
Avax Apparels and Ornaments BSE SME
Delta Autocorp NSE SME
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Let’s take into the details of each and see what their GMP suggests.
Capital Infra Trust InVIT IPO
Capital Infra Trust InVIT’s IPO ran from January 7 to January 9. The issue is a book-built issue worth Rs 1,578 crore, with a price band of Rs 99 to Rs 100 per share.
GMP: Currently, in the grey market, the shares are trading at a flat price, suggesting that the listing price is likely to be Rs 100, which is at the upper end of the issue price band.
Quadrant Future Tek IPO
The IPO for Quadrant Future Tek was open from January 7 to January 9, with a price band set at Rs 275 to Rs 290 per share. The issue is managed by Sundae Capital Advisors, with Link Intime India as the registrar.
GMP: The grey market is indicating a premium of Rs 110, suggesting a potential listing price of Rs 400, which is 37.93% higher than the issue price band.
Delta Autocorp NSE SME IPO
Delta Autocorp’s IPO is a book-built issue worth Rs 54.60 crore, open from January 7 to January 9. The IPO was massively subscribed with 342.1 times overall, 314.33 times in the retail category, and 624.28 times in the NII category.
GMP: This SME issue is trading at a premium of Rs 115 in the grey market, as per the recent trend and indicates a likely listing price of Rs 245, which is 88.46% higher than the issue price band.
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Avax Apparels and Ornaments BSE SME IPO
Avax Apparels and Ornaments’ IPO, with a price of Rs 70 per share, is a fixed-price issue worth Rs 1.92 crore, offering 2.74 lakh shares. The allotment was finalised on January 10.
GMP: In the grey market, the GMP is Rs 10, suggesting a listing price of Rs 80 per share, which is a 14.29% increase over the issue price.
B.R. Goyal BSE SME IPO
The B.R. Goyal IPO is a book-built issue worth Rsv85.21 crore, with a price band of Rs 128 to Rs 135 per share. The issue was subscribed 118.08 times, with strong demand across all categories.
GMP: This issue is trading at a premium of Rs 14 in the grey market, indicating a potential listing price of Rs 149, a 10.37% increase over the issue price band.
Furthermore, it is important to note that GMP reflects pre-listing demand and is not a guaranteed indicator of an IPO’s performance. GMP can change based on market conditions, so investors should not rely on it alone.