In the last 1 year, public issues, ie the response received by the investors to the IPOs, due to which only a few fortunate investors get shares in the IPO. But the upsurge in the market for the last 2 weeks has also worried the lucky investors who have been allotted shares of Nazara Tech, Anupam Rasayan and Laxmi Organic.
Investors of these three IPOs can expect a big blow on the listing day itself due to the ongoing upsurge in the market. In the gray market, the premium of unlisted stocks of these three companies has fallen drastically. The listing of Easy Trip Planners at a nominal premium has raised investor concern.
The unlisted shares of Easy Trip Planners were trading at an 80% premium in the gray market, but its listing in the stock market was only at a 13% premium. This has led to a sharp decline in gray market premiums of Nazara Technologies, Anupam Chemicals and Laxmi Organic.
Anupam Chemicals’ gray market premiums declined the most by 54%. Last week the unlisted shares of the company were trading at a premium of Rs 173 from their issue price, which is now trading at a premium of only Rs 80 per share. Let me tell you that tomorrow, on 24 March, the listing of Anupam Chemicals will be on BSE and NSE.
Similarly, there has been a sharp decline in the gray market premium of Lakshmi Organic. Last week, in the gray market, unlisted shares of the company were trading at 60% premium i.e. Rs 130 to 98 premium at Rs 208 to 210 per share, But today its unlisted shares are trading at a premium of only 62 rupees.
At the same time, the gray market premium of Rakesh Jhunjhunwala-invested company Najara Technologies has fallen by about 10%. Last week, the gray market premium of unlisted shares of the company was Rs 820 per share, which has now come down to Rs 750.
Their premiums also fell
At the same time, shares of Suryodaya Small Finance Bank are now trading flat at their issue price. Also, shares of precision engineering company Craftsman Automation are trading in the gray market at a premium of 3%, ie Rs 35 per share, from their issue price of Rs 1499.
What is the expert saying
Aastha Jain of Hem Securities says that the modest listing of Easy Trip Planners has certainly reduced the enthusiasm for listing IPOs at a premium in the market. But the listing of IPOs with good companies and strong fundamentals may still be at a premium.
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