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Business News/ Markets / Ipo/  ASK Automotive IPO: What GMP signals as all eyes set on listing date after share allotment?
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ASK Automotive IPO: What GMP signals as all eyes set on listing date after share allotment?

ASK Automotive IPO GMP: Company shares are available at a premium of ₹28 in grey market today, say observers

ASK Automotive IPO listing date is most likely on 15th November 2023 after declaration of share allotment last week. (Photo: Courtesy company website)Premium
ASK Automotive IPO listing date is most likely on 15th November 2023 after declaration of share allotment last week. (Photo: Courtesy company website)

ASK Automotive IPO: Allotment of shares for the initial public offering of ASK Automotive Limited has been finalised and now all eyes are set on ASK Automotive IPO listing date, which is most likely on 15th November 2023. In the wake of T+3 schedule, ASK Automotive IPO listing is expected on third trade session after closure on ASK Automotive IPO subscription. As ASK Automotive IPO closed on 9th November 2023 i.e. Thursday last week, ASK Automotive share are expected to hit Indian stock market on Tuesday this week. But, due to stock to stock marekt holiday for Diwali Balipratipada falling on 14th November 2023, share listing is expected on Wednesday this week.

ASK Automotive IPO GMP today

Ahead of ASK Automotive IPO listing date, shares of ASK Automotive Limited have remained steady in grey market. According to market observers shares of ASK Automotive Limited are available at a premium of 28 in grey market today. This means, ASK Automotive IPO grey market premium (GMP) today is 28, which is 5 below its weekend GMP of 33. Market observers said that Indian markets maintained its winning record on Muhurat trading session but Indian stock market today is under pressure. This might be the reason for dip in ASK Automotive IPO GMP.

What this GMP mean?

Market observers maintained that ASK Automotive IPO GMP today is 28, which means grey market is expecting that ASK Automotive IPO listing price would be around 310 ( 282 + 28) per share levels, which is around 10 per cent higher from ASK Automotive IPO price band of 268 to 282 per equity share.

So, grey market is signaling that ASK Automotive IPO listing would be flat to positive.

However, stock market experts maintained that GMP should not be taken so seriously as it is non regulated and completely speculative. It involved even those who have high stake involved in the public issue. Hence, some times then GMP might be artificial, especilly ahead of IPO opening date or during bidding period. They advised investors to scan balance sheet of the company as it gives concrete fundamental picture of the company.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 13 Nov 2023, 11:03 AM IST
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