GoFashion IPO: What does GMP reflect ahead of share listing date

Go Fashion IPO GMP

Today’s Go Fashion IPO Is GMP, According to Market Observers 500, which is unchanged from yesterday’s GMP. Hence, despite the negative sentiment in the primary market, Go Fashion IPO GMP has remained stable indicating a strong listing of the public issue. Market observers further said that despite the stock market crash on Friday, Go Fashion shares have remained stable in the gray market, which means lucky bidders can expect higher returns from their investments on the date of listing.

What does this GMP mean?

Market observers further said that the GMP is nothing but the expected listing profit from the public issue by the gray market. Go Fashion IPO is GMP Today 500, means that the gray market is expecting a Go Fashion Share listing 1190 ( 690+ 500), which is almost 70 percent higher than its price band from 655 690 per equity share.

However, stock market experts are of the opinion that gray market gives an unofficial data which has nothing to do with the fundamentals of the company. He advised the bidders to stick to the balance sheet of the company and ascertain the exact financial position of the company.

Go Fashion Shares Expected Good Response On Listing Date; Ravi Singh, Head of Research and Vice President, ShareIndia said, “In the current market scenario, most IPOs are expected to perform well. We expect the GoFashion IPO to also get a good response during the listing. The textiles sector will see a boost. Long term I also help Go Fashion. However, we advise investors to book premium at the time of listing.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.