Electronics Mart listing date: Following the allotment of shares, bidders and market watchers are eagerly awaiting Electronics Mart’s IPO, which is scheduled for October 17, 2022. Electronics Mart India Limited will be listed on Securities Group ‘B’ List and admitted to trading on the stock exchange. Meanwhile, sentiment in the gray market has remained steady on Electronics Mart shares. According to market observers, shares in Electronics Mart are available at a premium of EUR 1.00 €30 on the gray market, which means that the gray market expects the public issue to be listed strongly.
Electronics Mart IPO GMP today
According to market watchers, Electronics Mart IPO is gray market premium (GMP) today. €30 that is €4 higher from yesterday’s close €26. You said that IPO GMP remained from Electronics Mart €30 for more than a week and remained unperturbed by secondary market sentiment. That means the gray market for Electronics Mart stock is pretty bullish. So, in line with gray market sentiment, strong gains can be expected when the shares are listed on the BSE and NSE on Monday.
What does this GMP mean?
According to market observers, Electronics Mart IPO is now GMP €30, meaning the gray market expects Electronics Mart’s IPO price to be around €89 ( €59+ €30), which is more than 50 percent of its price range €56 to €59 per common share. Bidders who follow the gray market can therefore expect a strong listing gain on Monday.
Stock market experts on Electronics Mart’s IPO profit
Commenting on Electronics Mart’s IPO price, Manoj Dalmia, Founder and Director of Proficient Equities said, “Electronics Mart India shares are commanding a premium or Gray Market Premium (GMP) which has risen sharply €30 in the gray market today versus Rs.24 yesterday. We can count on a list price of €86-89. Investors can hold the shares in order to achieve capital gains and a further increase in the share price.
Ravi Singh, Vice President and Head of Research at Share India said, “Bajaj Electronics branded EMIL has one of the highest margins among its competitors with decent revenue growth. Over a 2-year period, EMIL has a better RoE due and its upper price band is trading at 18.5x FY22 P/E, which is significantly lower than its peer in terms of valuations. We expect the IPO to trade at a premium of around 30 to 35 percent on the trading day.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms and not Mint.
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