Aditya Birla AMC IPO: Price band fixed. Check what GMP indicates

Aditya Birla IPO GMP (Grey Market Premium)

According to market experts, today Aditya Birla’s IPO is GMP ₹60 – ₹20 up from your yesterday’s GMP ₹40. Market observers further said that the shares of Aditya Birla became available for trading on Friday at a premium to the gray market ₹40. So, Aditya Birla AMC IPO GMP has increased by 50 percent from Friday to Saturday as the increase in ₹from 40 ₹60. He further added that Aditya Birla AMC IPO GMP may further increase as its membership opens on 29 September 2021. He expected that there might be some more increase as people would wait till the new week starts.

What is the meaning of this Aditya Birla IPO GMP

Market observers further said that the GMP is only an unofficial estimate of the listing premium for the public issue. As Today is Aditya Birla IPO GMP ₹60, means gray market is expecting this public issue to be listed ₹772 ( ₹712+ ₹60) – about 8 percent more than the upper price band of the public issue. However, he added that this is just a preliminary trend and there may be more to offer from the gray market as it is almost a fortnight away from its expected listing date of October 11, 2021.

advising IPO investors to look at the financial position of the company rather than the gray market premium; Abhay Doshi, Founder, UnlistedArena.com, said, “Grey market premium is an unofficial data, which has nothing to do with the financial position of the company. Hence, bidders are advised to consider the same while taking any investment decision. Look at the financial position of the company. Hence, I would advise IPO investors to first look at the balance sheet of the company rather than looking at the gray market premium.”