Venus Pipes IPO: After closing three days of subscription to the Venus Pipes & Tubes Limited Public Offer, all eyes are now on Venus Pipes’ IPO allotment date, which is likely to take place on 19th May 2022. The gray market has also become more vulnerable to public issues. 165.42 crores. According to market observers, the stock of Venus Pipes is being quoted at a premium to the price. 22 in the gray market today.
Venus Pipes IPO GMP Today
Market observers said Venus Pipes IPO Gray Market Premium (GMP) today is 22, which is 8 less than yesterday’s gray market premium 30. He said Venus Pipes IPO GMP fell for the second day in a row as it was On Thursday 35. Market observers said weak secondary market sentiment is leading to a fall in the IPO GMP of Venus Pipes as the NSE Nifty is down 4 per cent in the past one week.
What is the point of this Venus Pipes IPO GMP?
Market Observers Say Venus Pipes IPO Is GMP Today 22, which means the gray market is expecting a Venus Pipes IPO listing to happen 348 ( 326+ 22), which is about 7 per cent higher than its price band from 310 326 per equity share.
However, stock market experts said that the GMP is not a perfect indicator about the success of the IPO’s failure. He added that the gray market premium is an unofficial data, which is also non-regulated. Hence, one should look at the balance sheet of the company rather than the gray market sentiments as the financial position of the company gives a better and concrete picture of the company.