Mankind Pharma IPO: What does GMP indicate after the subscription is closed?

Mankind Pharma’s IPO GMP today

According to market watchers, Mankind Pharma’s IPO gray market premium (GMP) is today 60, which is 10 less than your Thursday GMP 70 per equity share. He said that today’s decline in Mankind Pharma’s IPO GMP can be attributed to the cold response given by retail investors to the public issue. He said the IPO received a great response in the QIB category, but the public issue in the retail segment was not fully subscribed. Hence, the gray market, which is mainly driven by retail investors, is responding coldly to IPOs.

What does this GMP mean?

Market observers said Mankind Pharma’s IPO today is GMP 60 per equity share, which means the gray market is expecting Mankind Pharma IPO listing price will be around 1140 ( 1080+ 60), which is about 5.5 per cent higher than Mankind Pharma’s IPO price band since 1026 1080 per share.

However, stock market experts say that GMP is not an ideal indicator of success or failure of a public offering. One should stick to the basics and scan the financial position of the company as it gives solid fundamental picture which is long lasting.

After three days of bidding, the public issue was subscribed 15.32 times, while its QIB portion was subscribed 49.16 times. However, the public issue failed to get fully subscribed in the retail segment as it got only 92 per cent subscription of its total offer.

After the closure of Mankind Pharma IPO subscription, the focus is on Mankind Pharma IPO allotment date, which is expected to be on 3rd May 2023. Mankind Pharma IPO listing is proposed on both NSE and . bse And the Mankind Pharma IPO listing date is expected to be on 8th May 2023.