BackDCX Systems IPO: What GMP signals as all eyes set on share allocation date?
DCX Systems IPO GMP today is ₹80, say market observers
PremiumDCX Systems IPO GMP: Three days bidding for the initial public offering (IPO) of DCX Systems is over and bidders are eagerly waiting for DCX Systems IPO allotment date, which is most likely on 7th November 2022. In three days of bidding, the public issue worth ₹500 crore got strong response from the investors. As per the DCX Systems IPO subscription status, the public issue got subscribed 69.79 times whereas its retail portion was subscribed 61.77 times. Meanwhile, grey market is also giving strong vibes in regard to the public issue. According to market observers, shares of DCX Systems are available at a premium of ₹80 in grey market today.
DCX Systems IPO GMP today
As per the market observers, DCX Systems IPO grey market premium (GMP) today is ₹80, which is ₹12 higher from its yesterday's close. Market observers maintained that rise in grey market price is noticeable as it has risen despite dip in stock market sentiments for last two days. They said that one can expect better response towards the public offer once there is trend reversal in the secondary market sentiments. They went on to add that DCX Systems IPO GMP has remained around ₹80 for last few days and it reflects that grey market is expecting strong debut of DCX Systems shares on Dalal Street.
What this GMP mean
DCX Systems IPO GMP today is ₹80, which means grey market is expecting that DCX Systems IPO listing would be around ₹287 ( ₹207 + ₹80), which is around 42 per cent higher from its issue price of ₹197 to ₹207 per equity share.
However, stock market experts maintained that grey market premium should not be taken seriously as it has nothing to do with company's fundamentals. They went on to add that the GMP can be artificial as well because it involves even those people who have high stake involved in the initial public offer. They advised investors to go through the balance sheet of the company as it gives concrete picture of its fundamentals.
DCX Systems IPO listing date is most likely on 11th November 2022 and it is proposed for listing on both NSE and BSE.
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