The primary market is set for a busy week, with three companies — Glass Wall Systems (India) Ltd, Prasol Chemicals Ltd and Kanohar Electricals Ltd — scheduled to launch their initial public offerings (IPOs) on Tuesday, 8 September. All three issues are awaiting their anchor-investor allocations today ahead of the public subscription.
The IPOs will remain open from 8 September to 10 September, with the equity shares proposed for listing on the BSE and NSE on 16 September. Let's take a look at the issue details and grey market premium (GMP) trends for the upcoming IPOs:Glass Wall Systems IPO GMP todayGlass Wall Systems IPO GMP today, or grey market premium, is +35.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Glass Wall Systems share price was indicated at ₹217 apiece, which is 19.23% higher than the IPO price of ₹182. According to grey market trends observed over the past five sessions, the present GMP of ₹35 suggests a pessimistic perspective.
During this timeframe, the GMP fluctuated between ₹20 and ₹65, according to experts. Facade solutions provider Glass Wall Systems (India) Ltd has fixed the IPO price band at ₹172-182 per equity share. The company aims to raise around ₹428 crore through the issue.
The IPO comprises a fresh issue of equity shares worth up to ₹60 crore and an offer for sale (OFS) of 2.02 crore equity shares by promoters Jawahar Hariram Hemrajani and Eshan Jawahar Hemrajani, along with investor shareholder India Business Excellence Fund IIA.
Prasol Chemicals IPO GMP todayPrasol Chemicals IPO GMP today, or grey market premium, is +90. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Prasol Chemicals share price was indicated at ₹766 apiece, which is 13.31% higher than the IPO price of ₹676.
Based on grey market activity over the past five sessions, the GMP of the IPO is showing an upward trend today, suggesting positive expectations for the listing. Throughout this period, the GMP fluctuated between ₹14 and ₹165, according to experts. Specialty chemicals manufacturer Prasol Chemicals Ltd has set a price band of ₹643-676 per equity share for its ₹500-crore IPO.
The issue includes a fresh issue worth up to ₹80 crore and an OFS of shares worth up to ₹420 crore by selling shareholders. At the upper end of the price band, Prasol Chemicals is valued at around ₹6,001 crore. Kanohar Electricals IPO GMP todayKanohar Electricals IPO GMP today, or grey market premium, is +205.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kanohar Electricals share price was indicated at ₹837 apiece, which is 32.44% higher than the IPO price of ₹632. Based on grey market trends observed over the past eight sessions, the IPO's GMP is trending upward today, suggesting anticipation of a robust listing.
Throughout this time frame, the GMP fluctuated between a minimum of ₹0.00 and a maximum of ₹205, as noted by analysts. Transformer manufacturer Kanohar Electricals Ltd has fixed the IPO price band at ₹601-632 per equity share for its ₹1,056-crore IPO.
The issue comprises a fresh issue of shares worth up to ₹300 crore and an OFS of up to 1.2 crore shares, valued at ₹756 crore at the upper end of the price band. Promoter K Sons Family Trust is the selling shareholder. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint.
We advise investors to check with certified experts before making any investment decisions.