Devyani International IPO: Devyani International’s share allotment is complete, and happy public offering bidders are now eagerly awaiting the expected listing date, August 16, 2021. While bidders are busy comparing Devyani International’s P / E to its listed competitors, so are they to keep their focus on the gray market. According to market observers, Devyani International is IPO GMP today ₹58 – ₹7 higher from yesterday’s gray market premium of ₹51. You said this reflects that the gray market is expecting a strong listing of Devyani International shares on Indian stock exchanges. The management of QSR chain operators in India has the price range from Devyani International IPO on. set ₹86 tons ₹90 with a nominal value of Re 1 per equity share.
Devyani International IPO gray market premium
As noted by market watchers, Devyani International is IPO GMP today ₹58 ₹7 higher after remaining unchanged ₹51 for the last three consecutive days. Thus, Devyani International IPO is gaining strength in the gray market, reflecting the gray market’s strong belief in public issuance, market watchers said. They added that such GMP is robust ₹58 levels indicate a strong quotation in company shares.
What this GMP means for Devyani International IPO
According to market observers, the gray market premium is an indication of the expected stock market profit from the public issue. Since then, Devyani International is IPO GMP today ₹58 means that the gray market expects Devyani International to be listed at around ₹148 ( ₹90 + ₹58). Market watchers also alleged that Devyani International’s IPO GMP fluctuated ₹50 to 55 after the end of the bidding process, which means that the gray market expects a listing profit from the IPO of 55 to 60 percent.
Discussing Fundamentals That Could Support the Listing of Devyani International Stocks; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited, said, “Devyani International is a multi-dimensional, comprehensive QSR player with a portfolio of highly recognized global brands and is available at reasonable ratings compared to its peers. Given the adjusted EBITDA of ₹1789.23 on a post-issue basis, the company will be valued at an EV / EBITDA of 62.39 with a market capitalization of. note ₹10,822.7 billion euros, while its competitors Jubilant Food and Westlife Development are trading with EV / EBITDA of 66.02 and 206.11 respectively. “
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