Udayshivakumar Infra IPO: Following the initial public offering (IPO) of Udayshivakumar Infra Ltd. closed its four-day subscription period, all eyes are now focused on the IPO’s allotment date, which is most likely on March 28, 2023, or on Tuesday of the following week. The public offering for Udayshivakumar Infra, valued at 66 crore, received 32.49 times as many subscriptions as its retail portion, which received 14.95 times more. Market watchers report that shares of Udayshivakumar Infra are currently available in the black market for a premium of 10.
Udayshivakumar Infra IPO GMP today
Market watchers estimate that the grey market premium (GMP) for the Udayshivakumar Infra IPO is 10 today, up from its GMP of 8 yesterday. According to them, Udayshivakumar Infra IPO GMP has maintained upside momentum in the grey market despite the recent two days’ negative sentiment on Dalal Street, which says a lot about the public offering. They claimed that stock market emotion will determine a lot of things.
What this GMP signals?
Market observers went on to add that Udayshivakumar Infra IPO GMP today is ₹10, which means grey market is expecting that Udayshivakumar Infra IPO listing price would be around ₹45 ( ₹35 + ₹10), which is around 28 per cent higher from Udayshivakumar Infra IPO price band of ₹33 to ₹35 per equity share. Market observers said that 28 per cent listing premium in current market sentiment suggests big return for the lucky allottees as most of the IPOs listed this year have given tepid or negative return to its investors.
However, stock market experts suggested lucky allottees to stick with their conviction they have developed after scanning the financial of the company before investing. They said that GMP is non-regulated figure, which is completely speculative. This can be artificial on some occasions as well because it involved even those who have high stake involved in the public issue.
Udayshivakumar Infra IPO details
The public issue is proposed for listing on both NSE and BSE and the Udayshivkumar Infra IPO listing date is most likely on 3rd April 2023.