Shares of Anand Rathi Wealth may get listed on BSE and NSE tomorrow. public issue eligible 660 crores got subscribed 9.78 times in 3 day bidding and the share allotment was announced on 9th December 2021. While allottees are busy speculating about the listing benefit from the public issue, the gray market is also giving some indication in this regard. Anand Rathi IPO Listing Price, According to market experts, Anand Rathi Wealth’s share is available at a premium of Rs. 50 in the gray market today.
Anand Rathi IPO GMP
As per market observers, Anand Rathi’s IPO is GMP today 50, which is 10 less than yesterday’s gray market premium (GMP) 60 per equity share. He said that for the last 4-5 days, Anand Rathi’s IPO GMP is going on and on. After 50 nose bleeds Last week 120 levels. He said the stable Anand Rathi IPO GMP can be attributed to the positive sentiment in the stock market during the weekend trading session.
What does this GMP mean?
What is meant by this GMP, market observers said, the GMP is an unofficial data regarding the listing profit expected by the gray market. Anand Rathi’s IPO is today as GMP 50, it simply means that the gray market is expecting Anand Rathi shares to be listed around 600 ( 550+ 50), which is about 9 percent more than its price band from 530 550 per share.
However, stock market analysts are of the opinion that gray market is an informal data and has nothing to do with the balance sheet of the company. The financial position of Anand Rathi Wealth reflects a strong outlook, he added.
Highlighting the fundamentals that support strong listing of Anand Rathi shares; Abhay Doshi, Founder, UnlistedArena.com, said, “The wealth management market in India is huge but the competition is also tough. Furthermore, the performance of such companies is in line with the performance of the overall market which is somewhat cyclical in nature.”
Abhay Doshi further said that Anand Rathi Wealth has registered exceptional growth in the 5-month period ended August 21, while the performance has been stable in the last 3 financial years. The valuation looks completely undervalued as the issue price is 50 times PE based on FY2011 performance.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,