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What GMP is signaling after the announcement of the share allocation

The grant status of the Go Fashion IPO has been announced and now all eyes are on the listing date, which is most likely November 30, 2021. However, ahead of the Go Fashion IPO listing date, the gray market is giving a strong signal regarding the listing gain from the public issue 1,013.61 crore. According to market watchers, Go Fashion’s share price in the gray market has risen despite the heavy sell-off on Friday on the Indian stock exchange.

Go Fashion IPO GMP

According to market observers, Go Fashion is IPO GMP (gray market premium) today 500 that is 20 up from yesterday’s gray market premium of 480. They added that Go Fashion was IPO GMP yesterday morning 540 that up to 480 in the evening. But this morning there was some rebound in Go Fahion stock price in the gray market. Market watchers said this spike in Go Fashion IPO GMP is a good sign as the spike was recorded after a serious bloodbath on Dalal Street.

What does this GMP mean?

Market watchers added that Go Fashion IPO is GMP today 500, which means the gray market expects Go Fashion shares to trade at around 1190 ( 690+ 500), which is more than 70 percent of its price range of 655 tons 690 per share.

However, exchange experts said the gray market is not an ideal indicator for valuing a public issue. They said the company’s financial data gives an ideal picture of the company and advised lucky bidders in the Go Fashion IPO not to draw any conclusions from this surge in the Go Fashion IPO GMP.

Expectation of better listing profit from Go Fashion IPO; Ravi Singh, Head of Research & Vice President at ShareIndia, said: “In the current market scenario, most IPOs are expected to do well, also helping go fashion in the longer term. However, we advise investors to book the premium at the time of listing. “

Disclaimer: The views and recommendations made above are those of an individual analyst or brokerage firm and not of Mint.

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