Sirma SGS Technology IPO: What does the latest GMP, membership status indicate?

Sirma SGS Technology IPO: public issue eligible 840 crores were opened for membership on 12 August 2022 and it will be open for bidding till 18 August 2022. Since the first day of bidding, Sirma SGS Technology IPO subscription status shows that the issue is subscribed 0.37 times while its retail portion is subscribed 0.69 times. Times. Meanwhile, after the first day’s bidding, Sirma SGS Technology IPO has slipped at a gray market premium (GMP). from 20 16. According to stock market experts, Sirma SGS Technology’s IPO GMP was on Friday 20 but it came down after the market closed 16.

Sirma SGS Technology IPO GMP

AWS mentioned above, Sirma SGS Technology IPO GMP Today Is 16, which is 4 less than its Friday gray market premium 20. This means that the gray market sentiment with respect to the public issue has gone down after the first day of bidding. According to market experts, the IPO of Sirma SGS Technology has come after a gap of two months. Hence, an overwhelming response was expected from the bidders. But, it managed to attract subscriptions 0.37 times its total offering. Maybe it went against the issue in the gray market. However, he added that the next three days are stock market holidays and this could also be a reason for the bidders to keep themselves away from the IPO and they want to see how the market fares next week as Nifty reaches 16,000 mark. Speculations of arrival are high.

What does this GMP mean?

According to Market Observers, Sirma SGS Technology IPO is GMP Today 16, which means the gray market is expecting the Sirma SGS Technology IPO listing to be around 236 ( 220 + 16), which is about 7 percent higher than its price band from 209 220 per equity share.

However, stock market experts say that gray market premium is not an ideal indicator of IPO performance. He advised the investors to have proper knowledge about the balance sheet of the company as it gives a solid fundamental position of the company.

catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.

More
low

subscribe to mint newspaper

, Enter a valid email

, Thank you for subscribing to our newsletter!