GMP Trend Remains Flat Post Subscription
The grey market premium for Narmadesh Brass Industries SME IPO remained unchanged at ₹0 on January 17, indicating stable unofficial market sentiment following the close of the public issue.As per the latest available data, the IPO continues to trade at par in the grey market, with the estimated listing price aligned with the issue price of ₹515 per share. The estimated profit per lot stands at zero, reflecting no premium or discount in the grey market.
Day-wise GMP Movement
The GMP for the Narmadesh Brass Industries SME IPO has remained flat throughout the bidding period and even after the issue closed. From January 7 through January 17, the grey market premium consistently stayed at ₹0, showing no movement during the entire subscription window.On the final day of bidding on January 16, the IPO recorded a subscription of 1.25 times, while the GMP remained unchanged. The same trend continued on January 17, with no change in grey market activity.
Subscription
The SME IPO was priced at ₹515 per share and saw a gradual rise in subscription levels over the issue period, closing at 1.25 times. Despite the modest subscription response, grey market indicators have not signalled any premium build up ahead of the proposed listing.Based on the prevailing GMP, the estimated listing price is ₹515, translating into a flat expected listing on the BSE SME platform.
Key Takeaway
The consistent zero GMP throughout the IPO timeline suggests cautious sentiment in the unofficial market, even as the issue managed to garner full subscription. Market participants will now watch the actual listing performance for further cues once the shares debut on the exchange.GMP Note:
The grey market premium (GMP) is an unofficial indicator based on market perception and demand in the unregulated grey market. GMP figures are quoted for informational purposes only and may change frequently. Grey market prices are not regulated by any exchange, and investors should not rely solely on GMP while making investment decisions.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.