PNGS Reva Diamond Jewellery, Clean Max Enviro Energy Solutions IPO GMPs rise up to 5% ahead of launch next week

Grey Market Premiums Rise Ahead of Upcoming IPOs

The anticipation of two upcoming initial public offerings (IPOs) in India has caused the grey market premiums (GMPs) of PNGS Reva Diamond Jewellery and Clean Max Enviro Energy Solutions to surge.

PNGS Reva Diamond Jewellery GMP:

• Shares commanding a premium of up to 5 percent.
• Investorgain quoted a premium of Rs 20 per share, indicating a potential listing gain of 5.18 percent.
• IPO Watch also indicated a premium of over 5 percent in the grey market.

Clean Max Enviro Energy Solutions GMP:

• Quoting a GMP of up to 3 percent.
• Investorgain reported a premium of Rs 30 per share, translating into an estimated listing gain of 2.85 percent.

IPO Details:

PNGS Reva Diamond Jewellery:

• IPO opens for public subscription on February 24 and closes on February 26.
• Anchor investor bidding is scheduled for February 23.
• Offer size: Rs 380 crore.

Clean Max Enviro Energy Solutions:

• IPO opens for subscription on February 23.
• Offer size reduced to Rs 3,100 crore.
• Price band fixed at Rs 1,000-1,053 per share.
• One-day anchor book opens on February 20, issue closes on February 25.
• Expected share allotment by February 26, listed on bourses on March 2.

The Brookfield Corporation-backed Clean Max Enviro Energy Solutions is raising Rs 3,100 crore through a combination of a fresh issue of shares worth Rs 1,200 crore and an offer-for-sale of Rs 1,900 crore. The company is valued at over Rs 12,300 crore.

Check All IPO News for the latest updates on upcoming IPOs and their performance in the grey market.