Sah Polymers IPO: Following the completion of the Sah Polymers Initial Public Offering tender, bidders are eagerly awaiting the completion of the share allotment. Worth according to the preliminary schedule of public output €66.30 crore, the grant date for Sah Polymers IPO is most likely January 9, 2023.
Due to weak sentiment on Dalal Street, gray market sentiment regarding the public issue has dropped drastically over the past 60 hours. According to primary market watchers, shares of Sah Polymers are available today in the gray market at a premium of 1 Re.
Saw Polymers IPO GMP today
Primary market watchers added that Sah Polymers’ IPO gray market premium (GMP) is Re 1 today, which was what it was €5 on Thursday. This means that Sah Polymers IPO GMP has submerged €5 to Re 1 in the last 24 hours. However, it would be interesting to know that Sah Polymers gray market IPO sentiment has deteriorated over the past 60 hours €15 to Re 1. Market observers highlighted the reasons behind the GMP nosedive at Sah Polymers’ IPO, saying that the decline in secondary markets for the past two consecutive days could be the main reasons. That being said, the global clues are also negative as the Federal Reserve meeting minutes announced a cautious tone on interest rates. So, sentiment in the gray markets has dropped as both global and domestic markets are expected to be in the bears’ grip these days.
What does this GMP mean?
Market watchers claimed that GMP for Sah Polymers’ IPO today is Re 1, meaning the gray market expects Sah Polymers’ IPO to occur around its top price. Experts said that despite weak sentiment from all corners, the gray market expects a positive or par listing of the public issue, which will be a big boost for bidders. Once there is a turnaround in the secondary markets, we can expect the gray market to see a boost in morale regarding the Sah Polymers IPO.
Sah Polymers IPO details
In four bidding days from December 30, 2022 to January 4, 2023, the public issue was subscribed 17.46 times, while the retail portion was subscribed 39.78 times. In the NII category, the public issue received 32.69 subscriptions, while in the QIB category it received 2.40 subscriptions.
The allotment date for the Sah Polymers IPO is most likely January 9, 2023. The public offering is intended to be listed on both the NSE and the BSE and Sah Polymers’ provisional IPO date is January 12, 2023.
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