Gala Precision Engineering IPO: The listing date of the initial public offering (IPO) of Gala Precision Engineering Limited has been declared. According to BSE, effective from Monday, September 9, 2024, the equity shares of Gala Precision Engineering Limited shall be listed and admitted to dealings on the Indian exchanges (BSE and NSE) in the list of 'T' group of securities. This means company shares won't be available for trading on the first ten sessions post-listing. According to stock market observers, the grey market sentiment remains strong ahead of the Gala Precision Engineering IPO listing date.
Market experts said Gala Precision Engineering IPO GMP (grey market premium) today is ₹292, ₹2 higher than Friday's Gala Precision Engineering IPO GMP of ₹290. They said the rise in the grey market sentiment is positive as the secondary market bias has gone negative as the Nifty 50 index has slipped below the 25,000 mark. They said that the Indian stock market has been under selling pressure for the last three straight sessions. They added that the grey market bias may improve once there is a trend reversal on Dalal Street.
Gala Precision Engineering IPO: The listing date of the initial public offering (IPO) of Gala Precision Engineering Limited has been declared. According to BSE, effective from Monday, September 9, 2024, the equity shares of Gala Precision Engineering Limited shall be listed and admitted to dealings on the Indian exchanges (BSE and NSE) in the list of 'T' group of securities. This means company shares won't be available for trading on the first ten sessions post-listing. According to stock market observers, the grey market sentiment remains strong ahead of the Gala Precision Engineering IPO listing date.
Market experts said Gala Precision Engineering IPO GMP (grey market premium) today is ₹292, ₹2 higher than Friday's Gala Precision Engineering IPO GMP of ₹290. They said the rise in the grey market sentiment is positive as the secondary market bias has gone negative as the Nifty 50 index has slipped below the 25,000 mark. They said that the Indian stock market has been under selling pressure for the last three straight sessions. They added that the grey market bias may improve once there is a trend reversal on Dalal Street.
Market observers said Gala Precision Engineering's IPO GMP today is ₹292. This means the grey market expects the IPO listing price to be around ₹821, around 55 per cent higher than the upper price band of the book build issue. So, the grey market hints that the company's share allottees may get a 55 per cent listing gain on Monday.
However, stock market experts said that GMP is not an ideal indicator to assess or estimate listing gain. They advised lucky allottees to stick with the conviction they had developed after scanning the company's balance sheet before bidding. They said that the grey market is non-regulated, has no connection with the company's financials, and can be artificial on some occasions.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
