Bikaji Foods IPO: What GMP signals as all eyes set on share listing date
Premium- Bikaji Foods IPO GMP has been oscillating around ₹35 to ₹40 per equity share, say market observers
Bikaji Foods IPO: Shares of Bikaji Foods International are soon going to hit secondary markets as Bikaji Foods IPO listing date is highly likely on 16th November 2022. One of India's India's largest FMCG brand's public offer was subscribed 26.67 times whereas its QIB portion was subscribed 80.63 times of the company's offer. After allotment of shares, bidders are eagerly waiting for Bikaji Foods IPO listing date. Meanwhile, ahead of listing date, grey market is dropping hint about the kind of listing FMCG brand would have. According to market observers, shares of Bikaji Foods International are trading at a premium of ₹35 to ₹40 in grey market today.
Bikaji Foods IPO GMP today
As per the market observers, Bikaji Foods IPO grey market premium (GMP) has been oscillating around ₹35 to ₹40 for last three days. They said that Bikaji Foods IPO GMP today is also around ₹35 to ₹40 per equity share, which is expected to shoot up further if the bull trend on Dalal Street continues. They went on to add that the IPO has received strong response from investors and positive sentiments at secondary market may lead to positive debut of Bikaji Foods shares.
What this GMP means?
Market observers went on to add that Bikaji Foods IPO GMP today is ₹35 to ₹40 that means grey market is expecting Bikaji Foods share price opening at around ₹335 to ₹340 ( ₹300 + ₹35 to ₹40). They said that grey market is signaling that Bikaji Foods shares may have a positive opening, giving double digit premium to the lucky allottees.
However, stock market experts strongly recommended bidders to go with their conviction developed after going through the company's financials. They said that balance sheet of the company reflects concrete picture of its fundamentals whereas GMP is a non-regulated speculative number, which has nothing to do with company's financials. Sometimes, GMP can be artificial as well because it involves even those people who have high stake involved in the public issue.
