Arkade Developer IPO: After the announcement of share allotment last week, lucky allottees and market observers are eagerly waiting for the announcement of the Arkade Developer IPO listing date. In the wake of the 'T+3' listing rule, the share listing will most likely be on Tuesday, September 24th, 2024. The public issue received a strong, decent response during the subscription date, and the grey market continues to remain bullish on the book build issue.
According to stock market observers, shares of Arkade Developer Limited are available at a premium of ₹65 in the grey market today. This means the Arkade Developer IPO GMP (grey market premium) today is ₹65, which is ₹5 higher than the weekend GMP of ₹60. They said that the positive response by investors and the bullish trend on Dalal Street could be the reason for the rise in the grey market sentiment. They noted that the grey market signalled that Arkade Developer IPO listing price would be at a whopping premium.
Market observers said that Arkade Developer IPO GMP today is ₹65, which means the grey market expects that Arkade Developer IPO listing price will be around ₹193 ( ₹128 + ₹65). So, this Arkade Developer IPO GMP suggests that an allottee may expect a listing gain of around 50 per cent against one's investment.
However, stock market experts said that GMP should not be taken seriously as it is non-regulated and has nothing to do with the company's financials. They noted that GMP can be artificial on some occasions as it involves even those with a high stake in the public offer. They advised allottees to stick with the convictions they developed while scanning the company's balance sheet. They said that the company's financials give an idea about its fundamentals in the medium to long term.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
