New Delhi: Three IPOs are going to open next week. These include Hyundai Motor India, Lakshya Powertech Limited and Frashara Agro Exports Limited. Among these, Hyundai will be the country’s biggest IPO. This is an IPO of the main board. The remaining two IPOs are from the SME segment. Out of these three IPOs, one IPO has created a stir in the gray market. Its price is continuously increasing in the gray market. The IPO of the company we are talking about is of Lakshya Powertech Limited. Even before its opening, this IPO seems to be giving profits to investors. The gray market premium (GMP) of this IPO is continuously increasing. On Sunday, its GMP increased from Rs 100 to Rs 135.
The country’s biggest IPO collapsed even before it opened! Fallen face down in gray market, hope of flat listing
Issue size of Rs 50 crore
Lakshya Powertech Limited is an IPO of SME Board. Its issue size is Rs 49.91 crore. The company will issue 27.73 lakh shares. All shares will be fresh. No shares will be issued under OFS.
This IPO will open on 16 October and close on 18 October. Allotment will take place on 21st October. The listing will take place on October 23. Its price band is Rs 171 to Rs 180. There will be 800 shares in one lot. For this, Rs 1.44 lakh will have to be invested. A retail investor can book a maximum of one lot only.
Strong listing expected
Due to the boom of this IPO in the gray market, it has given a glimpse of the strong listing to the investors even before its opening. There is an increase of 75 percent in its premium in the gray market. That means, if the momentum continues like this, then this IPO can be listed in the share market with a premium of 75 percent. Investors will get silver on this listing. They will get 75 percent direct benefit.
Will the price rise further?
The listing of this IPO will take place on 23 October. In such a situation, there are still 9 days left. Anything can happen in these 9 days. It is possible that its price may fall or increase further in the gray market. By the way, let us tell you that it is not necessary that the listing should be done at the price which is available in the gray market. Premium may change upon listing. In such a situation, the premium at which it will be listed will be known only on the listing.
Disclaimer: The recommendations given in this analysis are those of individual analysts or broking companies and not of NBT. We advise investors to consult certified experts before taking any investment decision. Because stock market conditions can change rapidly.