Interarch Building Products IPO: The listing date for Orient Technologies Limited's initial public offering (IPO) has been fixed for 26 August 2024. According to the information available on the BSE, effective Monday, August 26, 2024, the equity shares of Interarch Building Products Limited shall be listed and admitted to dealings on the BSE and NSE in the list of 'B' group of securities. So, Interarch Building Products shares will become available for trade from 10:00 AM during the Monday session next week.
Meanwhile, after the announcement of the Interarch Building Products IPO listing date, the grey market has gone bullish on Interarch Building Products IPO. According to stock market observers, Interarch Building Products IPO GMP (grey market premium) today is ₹360, ₹22 higher than the previous days' grey market premium of the book build issue.
Market observers said Interarch Building Products Limited shares are available at a premium of ₹360 in the grey market today. They said that the rise in the grey market premium for the Interarch Building Products IPO can be attributed to decent responses by the primary market investors and positive sentiments on Dalal Street. They said the secondary market sentiments will remain intact after the US Fed rate cut buzz. So, the grey market is expected to remain bullish on the Interarch Building Products IPO.
What does this Interarch Building Products IPO GGMP mean? Market observers said that the Interarch Building Products IPO GMP today is ₹360, which means an allottee may expect a ₹360 per share listing gain on the Interarch Building Products IPO listing date. In other words, the Interarch Building Products IPO listing price could be around ₹1260 ( ₹900 + ₹360), around 40 per cent higher than the upper price band of the Interarch Building Products IPO.
However, stock market experts said that the grey market is not an ideal indicator of the possible listing gain from a public issue. They told the grey market is non-regulated and has no connection with the company's financials. Sometimes, it involves even those with a high stake in the public issue. So, one should stick with the basics and stay with the conviction they have developed after scanning the company's balance sheet.
