Shyam Metalics IPO opened for subscription on June 14th and it got 3.65 times subscribed on day two. The public issue of Shyam Metalics and Energy is open for bidding till 16th June 2021. If we look at Shyam Metalics IPO grey market premium (GMP), it looks that the IPO is poised for bumper subscription as there are one full day left for bidding. According to experts, Shyam Metalics IPO GMP today is ₹155, which is enough to understand the mood of IPO investors about the public offer.
Speaking on the Shyam Metalics IPO GMP today Ravi Singhal, Vice Chairman at GCL securities said, “Shyam Metalics IPO grey market premium today is ₹155. This means the market is expecting Shyam Metalics IPO listing at ₹458 to ₹461 levels, which is enough to understand the mood of the IPO investors in regard to this public offer.”
Ravi Singhal of GCL security went on to add that Shyam Metalics IPO GMP has remained around ₹150 for the last five days that is also a positive sign for the counter till date. However, he maintained that the grey market premium is not the only factor that helps an IPO to succeed.
Avinash Gorakshkar, Head of Research at Profitmart Securities says, “GMP is completely speculative and IPO investors get a cue from it about the possible listing gains. If you look at the fundamentals of the company and the price band of the public issue, one can expect to get around 15-20 per cent listing gains in the IPO.”
Shyam Metalics IPO allotment will take place on 21st June 2021 while the tentative date for Shyam Metalics IPO listing at both NSE and BSE is 24th June 2021. Shyam Metalics and Energy intends to raise ₹909 crore through its public offer comprising a fresh issue worth ₹657 crore and an OFS (offer for sale) worth ₹252 crore by current selling shareholders.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
/cloudfront-us-east-2.images.arcpublishing.com/reuters/7UUCITBREZLGFJQFS2PXWZKRKQ.jpg)
