Sah Polymers IPO: With the completion of the initial public offering (IPO) of Sah Polymers Limited, all eyes are now on the grant date for Sah Polymers’ initial public offering, which is most likely to be 9th January 2022. In four supply days from December 30, 2022 to December 4 January, worth the public spending €66.30 million was subscribed 17.46 times, while the retail portion was subscribed 39.78 times. Meanwhile, the gray market has also become volatile following the completion of Sah Polymers’ IPO subscription. According to primary market watchers, shares of Sah Polymers are at a premium of €5 in the gray market today.
Saw Polymers IPO GMP today
Market watchers said Sah Polymers IPO is gray market premium (GMP) today €5, that is €10 lower from its GMP on Tuesday evening €15. They said that on Wednesday morning Sah Polymers IPO GMP was nearby €10. So, in almost 36 hours the Sah Polymers GMP IPO has gone under water €15 to €5 per common share. As the reason behind this big drop in Sah Polymers IPO GMP today, market watchers said the trend reversal in Dalal Street is the main reason as the gray market expects that in the event of bears, Sah Polymers IPO listing could hurt sentiment on the high net worth Investors, including FII and mutual funds. However, they said the public issuance was well received by investors and the issuance could shed lost ground in the gray market once there is a trend reversal in the secondary markets.
What does this Sah Polymers IPO GMP mean?
Market observers added that Sah Polymers’ IPO today is GMP €5, meaning the gray market believes the Sah Polymers IPO listing would be close €70, around 7.50 percent higher from its price range of €61 to €65 per common share. This means that the gray market believes the public issue could have a positive debut in the secondary markets despite the weak sentiment on Dalal Street.
After four bidding days, the public issue was subscribed to 17.46 times. Its Retail portion was subscribed 39.78 times, while its NII portion was subscribed 32.69 times.
Sah Polymers IPO details
Completion of the share allotment is expected on January 9, while the public issuance is expected to be listed on BSE and NSE on January 12, 2023.
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