Aditya Birla AMC IPO GMP: Aditya Birla Sun Life (ABSL) AMC share allotment is likely to be announced anytime today. So, who bid for it ₹2,768.26 crore public issue shares are closely monitoring the allotment process. However, they are also keeping a close watch on the gray market as the shares of Aditya Birla AMC have once again started rallying in the gray market. Today Aditya Birla AMC is trading at a premium of one share ₹35 in the gray market.
Aditya Birla AMC IPO GMP (Grey Market Premium)
Aditya Birla AMC IPO GMP is today ₹35, which is ₹5 More Than Its Wednesday’s GMP ₹30. According to market observers, this is good news for the bidders for the public issue as the shares of ABSL were trading at a discount of one time. ₹On Tuesday 2. He said that due to slow response from bidders, Aditya Birla AMC IPO lost to GMP ₹minus 70 ₹2 in just one week. However, as soon as the process of share allotment has started, the public issue is once again regaining its lost ground in the gray market. He expected further increase in gray market premium of Aditya Birla AMC IPO as the company’s financial position is strong.
what does this gmp mean
According to market observers, the GMP of a public issue reflects the expected listing profit by the gray market on that particular date. As Today is Aditya Birla AMC IPO GMP ₹35, this means that the gray market is expecting the public issue to be listed approx. ₹747 ( ₹712+ ₹35) – which is about 5 percent more than its price band ₹from 695 ₹712 per equity share. Therefore, a ‘Single Digit Listing Gain Percentage’ can be expected from this public issue on 11 October 2021.
However, market observers said that the GMP should not be a decision-making criterion regarding the failure or success of a public issue. One must look at the financial position of the company, as it is solid.
Speaking on the fundamentals that might support Aditya Birla AMC IPO listing; Saurabh Joshi, Research Analyst, Marwari Shares and Finance Ltd. said, “Looking at the TTM adjusted EPS ₹Based on 20.27 onwards, the company is going to be listed with a market cap at P/E ratio of 35.13 ₹2,05,056 million while its counterparts HDFC AMC and Nippon Life are trading at a P/E of 49.99 and 38.61 respectively.” He added that ABSL is the largest non-bank associated asset in India with a diversified product portfolio and a geographically diversified one. Manager’s All India Distribution Presence Moreover, the company is available at a fair valuation as compared to its peers.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.