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The initial public offering (IPO) market is currently experiencing a surge of activity, with six new offerings vying for investor attention. Among these, the HDB Financial Services IPO, Sambhv Steel Tubes IPO, Globe Civil Projects IPO, Ellenbarrie Industrial Gases IPO, Indogulf Cropsciences IPO, and Kalpataru IPO are all available in the primary market. Globe Civil Projects IPO, Ellenbarrie Industrial Gases IPO, and Kalpataru IPO have already concluded and are in the allotment phase. The remaining three, HDB Financial Services IPO, Sambhv Steel Tubes IPO, and Indogulf Cropsciences IPO, have garnered sufficient subscriptions and appear to be on track for successful listings, attracting a growing number of investors eager to participate in the market's potential upside. Each of these IPOs represents companies operating in diverse sectors, highlighting the breadth and depth of investment opportunities available to investors.
Arun Kejriwal, founder of Kejriwal Research and Investment Services, emphasizes the distinct nature of the Sambhv Steel Tubes IPO, HDB Financial Services IPO, and Indogulf Cropsciences IPO. He clarifies that directly comparing these offerings is inaccurate given their differing operational focus: one specializes in agricultural inputs, another provides financial services, and the third engages in steel manufacturing. Kejriwal highlights market psychology as a significant factor in investor decision-making, particularly for the Sambhv Steel Tubes IPO. The fact that the IPO is priced under ₹100 makes it seem more affordable and appealing to a wider range of investors. This perceived affordability is likely to draw additional attention and demand for the offering. In the case of the HDB IPO, the connection to HDFC Bank is a major selling point. The perceived value, even when considering a premium, makes it an attractive option relative to its previously estimated value. The Indogulf Cropsciences IPO benefits from the robust growth in India's agricultural sector. Increased awareness among farmers regarding the benefits of insecticides, herbicides, and plant nutrients positions the company favorably in the eyes of investors seeking exposure to this thriving industry.
Kejriwal provides a ranked preference among the three IPOs, placing the Sambhv Steel Tubes IPO as the most attractive, followed by the HDB Financial Services IPO, and then the Indogulf Cropsciences IPO. This ranking appears to be based on a combination of factors, including perceived value, brand association, and sector growth prospects. The grey market premium (GMP) provides an additional layer of insight into investor sentiment and potential listing performance. The GMP for the Sambhv Steel Tubes IPO is reported at +₹12, suggesting a trading premium of ₹12 in the grey market. Based on this premium and the upper end of the IPO price band, the estimated listing price for Sambhv Steel Tubes shares is ₹94 apiece, representing a 14.63% increase over the IPO price of ₹82. Recent grey market activity indicates an upward trend in the GMP, suggesting a potentially robust listing. Historical data shows a minimum GMP of ₹0.00 and a maximum GMP of ₹12.00. The grey market premium (GMP) provides an additional layer of insight into investor sentiment and potential listing performance. The GMP for the HDB Financial Services IPO is reported at +₹63, suggesting a trading premium of ₹63 in the grey market. Based on this premium and the upper end of the IPO price band, the estimated listing price for HDB Financial Services shares is ₹803 apiece, representing an 8.51% increase over the IPO price of ₹740. Recent grey market activity indicates an upward trend in the GMP, suggesting a potentially robust listing. Historical data shows a minimum GMP of ₹0.00 and a maximum GMP of ₹104.50. The grey market premium (GMP) provides an additional layer of insight into investor sentiment and potential listing performance. The GMP for the Indogulf Cropsciences IPO is reported at +₹9, suggesting a trading premium of ₹9 in the grey market. Based on this premium and the upper end of the IPO price band, the estimated listing price for Indogulf Cropsciences shares is ₹120 apiece, representing an 8.11% increase over the IPO price of ₹111. Recent grey market activity indicates an upward trend in the GMP, suggesting a potentially robust listing. Historical data shows a minimum GMP of ₹0.00 and a maximum GMP of ₹11. This analysis of GMP trends provides investors with valuable information to assess potential listing gains and make informed decisions about participating in these IPOs. The article concludes by defining the grey market premium as an indicator of investors' willingness to pay more than the issue price, which is a useful reminder of the dynamics at play in IPO markets.
Source: IPO GMPs: Sambhav Steel IPO vs HDB IPO vs Indogulf Cropsciences IPO: What grey market signals?