Adani Wilmar IPO: What does GMP stand for on Share Listing Date?

Adani Wilmar IPO GMP

Adani Wilmar IPO GMP Today, Market Observers Say 28, which is 2 less than yesterday’s gray market premium 30. He added that the Adani Wilmar IPO GMP had corrected this week after a trend reversal in the secondary market and moved up. 35 But in the sell-off of the last two weeks, the gray market sentiment once again witnessed a trend reversal with respect to the Adani Wilmar IPO. However, he added that the stock is likely to be listed on Tuesday and in case of a reversal in the stock market on Monday, there may be some increase in the share price of Adani Wilmar in the gray market.

what does this gmp mean

Market observers said the gray market premium is an informal data that reflects the listing premium that one can expect from a public offering. Adani Wilmar’s IPO Is Today as GMP 28, that means the gray market is expecting Adani Wilmar’s shares to list around 258 ( 230+ 28), which is about 13 percent higher than its price band 218 to 230 per equity share.

However, experts in the secondary market say that GMP is not an ideal indicator about potential listing as it has nothing to do with the company’s balance sheet.

Speaking on the fundamentals regarding Adani Wilmar IPO; Aparajita Saxena, Research Analyst, Trustline Securities, said, “Adani Wilmar enjoys a leadership position in the branded edible oil and packaged food business. It has a diverse product portfolio and market leading brands along with strong brand recall and wide customer reach. It is the largest oleochemical manufacturer in India with a pan India network and strong distribution infrastructure. Demographic change, increased e-commerce penetration, growth in domestic consumption and supportive government policies are strong tailwinds of the company.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.