Ather IPO: Subscription to public issue after three days 808.04 crores, the focus has now shifted to the Ather IPO allotment date, which is most likely on 31st May 2022. Ather Industries Limited’s initial public offering (IPO) was subscribed 6.26 times while its retail portion was subscribed 1.14 times. As per market observers, Ather Industries shares are available at a premium of 17 in the gray market today.
Ather IPO GMP Today
According to market experts, Ather Industries IPO Gray Market Premium (GMP) today is 17, which is 7 up from yesterday evening’s gray market premium 10. He added that the rise in Ather IPO GMP can be attributed to some relief rally in the secondary markets. He added that the gray market sentiment regarding Ather IPO could move northwards after a trend reversal on Dalal Street.
What does this GMP mean?
Market observers said the expected premium from the GMP IPO is nothing but an expected estimate. As of today Ather’s IPO is GMP 17, that means the gray market is expecting the Ather IPO listing to be around 659 ( 642 + 17), which is equal to the price band of the public issue.
Hence, the gray market is indicating that the IPO may be positive3 but in the same list.
However, stock market experts say that the GMP is not an ideal indicator about the listing premium of an IPO. He advised the investors to stick to the basics and suggested them to go through the balance sheet of the company on top as it gives a solid idea about the financial position of the company.