Ethos IPO: public issue eligible 472.29 crores opened for subscription on 18th May and will remain open for bidding till 20th May 2022, which means investors have just one day left to apply for the IPO (Initial Public Offering). Two days after the subscription opening, the public issue has been subscribed 0.44 times while its retail portion has been subscribed 0.68 times. Meanwhile, Ethos shares have become available for trading in the gray market from Thursday. As per market observers, Ethos Limited shares are available at a premium of 7 per equity share.
ethos ipo gmp today
Market observers said ethos ipo gray market premium (GMP) today is 7, which is 13 less than Thursday evening’s gray market premium 20. He said that the reason for the slowdown in the Ethos IPO GMP could be a sharp sell-off in the secondary market on Thursday. However, he added that further continuation of negative sentiment on Dalal Street may dampen investor reaction as today would be the last day to apply for the public offering.
What does this GMP mean?
Market Observers Says Athos IPO Is GMP Today 7, which means the gray market is expecting the Ethos IPO listing to be around 885 ( 878 + 7), which is equal to its price band from 836 878 per equity share.
However, stock market experts say that the gray market is not an ideal indicator for an IPO. He advised investors to look at the financial position of the company as it gives concrete information about the fundamental position of the company.
Giving the subscription tag for the long term, Aastha Jain, Senior Research Analyst, Hem Securities, said, “The company is India’s leading luxury watch omnichannel retail player with access to a large base of luxury customers. The company is leading the way in the lucrative luxury watch market. Achieves position. Early mover advantage in certified pre-owned business. Furthermore the founder-led company Ethos is backed by a professional management team. With strong growth prospects, we believe that the company is well suited for long-term investment objective. Therefore, we recommend “subscribe long-term” to the issue.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.