Sai Parenteral's is showing a flat GMP in the grey market, pointing to a subdued debut. The company operates in the pharmaceutical formulations segment, focusing on branded generics as well as contract development and manufacturing services for both domestic and international markets.
Powerica Ltd's Rs 1,100-crore IPO was subscribed 1.45 times overall, driven largely by institutional investors. The QIB portion was subscribed 4.50 times, while non-institutional investors covered 44% of their quota and retail investors subscribed just 15%. The stock is indicating a GMP of about 1%, suggesting a muted listing. The company provides integrated power solutions, including diesel generator sets.
The Rs 440-crore IPO of the basmati rice exporter was subscribed 3.23 times by the final day of bidding, reflecting steady investor interest.
Amir Chand Jagdish Kumar (Exports) is commanding the highest grey market premium (GMP) among the three companies. The GMP stands at around Rs 3.75, indicating a potential upside of roughly 1.7-2% over the issue price.
Good morning and welcome to Moneycontrol. Shares of Amir Chand Jagdish Kumar (Exports), Sai Parenteral's, and Powerica Ltd are set to list on the stock exchanges today after their IPOs saw healthy subscription during the March 24-27 bidding window.