Flair IPO: Additional status of the initial public offering (IPO) of Flair Writing Industries Ltd has been announced and now allottees are eagerly waiting for the listing date of Flair IPO which is most likely 1st December 2023 i.e. tomorrow. Meanwhile, in an overcrowded primary market, gray market went more bullish on Flair IPO. According to market observers, shares of Flair Writing Industries Ltd are available at a premium of ₹82 in gray market today.
Market observers said Flair IPO gray market premium (GMP) today is ₹83, which is ₹3 higher from Flair IPO GMP from ₹80 on Wednesday. So, Flair IPO GMP rose in the last day. Market watchers said that increase in gray market sentiments can be attributed to optimism in Indian stock market and strong response of investors to the public issue on bond date.
What does this GMP mean?
Market watchers went on to add that Flair IPO GMP today is ₹83, which means that gray market expects that Flair IPO list price would be around ₹387 ( ₹304 + ₹83), which is about 27 percent higher than Flair IPO on a band of basis ₹288 to ₹304 per equity share.
However, stock market experts claimed that gray market is not an ideal indicator to find out potential listing gain from a public issue. They said that gray market is unregulated and completely speculative because it has nothing to do with the financing of the company. They went on to add that sometimes the gray market gives artificial numbers because it has included even those who have a high interest in the public issue. They advised allottees to stick with the conviction they made after scanning the balance sheet of the company because balance sheet gives a concrete fundamental picture of the company.
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Updated: 30 Nov 2023, 09:24 IST