Home / Markets / Ipo /  Baheti Recycling IPO: GMP signals strong debut ahead of share allotment date
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Baheti Recycling IPO: After closure of subscription for Baheti Recycling Industries Limited, bidders and market observers are eagerly waiting for share allotment date, which is most likely on 5th December 2022. The public issue proposed for listing on NSE SME exchanged received strong response by retail investors as the public offer got subscribed over 435 times in retail portion. Meanwhile, following strong global cues after dollar index slipping to three-month low, grey market has remained steady on Baheti Recycling Industries Limited shares. According to market observers, shares of Baheti Recycling Industries Limited are available at a premium of 34 in grey market today

Baheti Recycling IPO GMP today

Market observers said that Baheti Recycling IPO grey market premium (GMP) today is 34, which is unchanged from its Thursday grey market premium. They said that US Fed' hint to raise interest rates by less than expected percentage points pull down dollar index to three-month low. This slide in dollar index has sparked fresh positive sentiment at global equity markets and this could be the possible reason for grey market remaining steady on Baheti Recycling IPO GMP. They said that strong response from retail investors is another reason for grey market maintaining positive sentiments in regard to Baheti Recycling shares despite range-bound session on Thursday.

What this GMP means?

Market observers said that Baheti Recycling IPO GMP today is 34, which means grey market is expecting that the public issue may list around 79, near 75 per cent higher from its price band of 45 per equity share. This means, grey market is signaling strong debut of Baheti Recycling Industries Ltd shares on Dalal Street.

However, stock market experts maintained that GMP should not be taken that much seriously because it has no connection with the company's fundamentals. They advised bidders to stick with their conviction they have developed after scanning the balance sheet of the company before applying for the SME IPO proposed for listing on NSE SME exchange.

Baheti Recycling IPO details

The tentative date for share allotment is 5th December 2022 whereas it may list on 8th December 2022.

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Asit Manohar

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