Sansera Engineering IPO: After two days of bidding, the initial public offering (IPO) of Sansera Engineering was subscribed 1.02 times. Market observers are of the view that there may be some pick-up in subscriptions as today will be the last date for bidding for the Sansera Engineering IPO. Meanwhile, it seems that the slow response from investors to the gray market has not been good. Sansera Engineering IPO Tanked by GMP (Grey Market Premium) ₹from level 80 ₹10 in just two days – indicating a ‘cold’ sentiment in the gray market.
Sansera Engineering IPO GMP
According to market experts, Sansera Engineering IPO GMP is today ₹10, which is ₹5 less than yesterday’s gray market premium ₹15. Observers further said that the shares of Sansera Engineering became available for trading in the gray market ₹50 premium. Sansera Engineering IPO rises to gray market premium ₹80 just one day before the date of subscription opening.
However, at the date of inauguration, Sansera Engineering IPO GMP tank and hit ₹15. According to market observers, 100 per cent OFS (Offer for Sale) could be a possible reason for slow investor response to the public issue. However, he added that the bidding may gain momentum today as the public issue is going to close today.
what does this gmp mean
According to market observers, the gray market premium is an unofficial estimate by the gray market in relation to the listing premium of a public issue. Sansera Engineering IPO Is Today as GMP ₹10, means that the gray market is expecting the listing of the shares of Sancera Engineering ₹754 ( ₹744+ ₹10) – Show the public issue in the list at par with its issue price ₹from 734 ₹744 per equity share.
Speaking on the reason for the apathetic response by the investors to the public issue; Abhay Doshi, Founder, UnlistedArena.com, said, “While being reasonably priced, the IPO looks under-shining due to a few reasons, such as while overall growth appears to be muted, the EV revolution is also a challenge and the auto sector is facing There has been a near-term headwind, which may turn investors conservative. However, it will be interesting to see the final subscription figures, which could be one of the indicators determining the short-term sentiment.”
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