BackDCX Systems IPO: What GMP signals as all eyes set on share listing date
DCX Systems IPO GMP today is ₹90, say market observers
PremiumDCX Systems IPO GMP: After finalisation of share allocation, bidders are eagerly waiting for the share listing date, which is most likely on 11th November 2022. After whopping 69.79 times subscription, market observers are highly bullish on the public issue worth ₹500 crore. In fact grey market is also signaling strong listing of DCX Systems shares. According to market observers, shares of DCX Systems Ltd is available at a premium of ₹90 per equity share in grey market today.
DCX Systems IPO GMP today
Market observers said that DCX Systems IPO grey market premium (GMP) today is ₹90, which is ₹5 higher from the close price on Wednesday. They said that after trend reversal on Dalal Street, grey market has gone highly bullish in regard to DCX IPO and expected that DCX Systems shares may have a strong debut on listing date. They went on to add that overall trend on Dalal Street is still positive that reflects strong listing premium expectation from the public issuer.
What this GMP means?
Market observers went on to add that DCX Systems IPO GMP today is ₹90, which means grey market is expecting that DCX Systems IPO listing would be around ₹297 ( ₹207 + ₹90), which is more than 40 per cent from its price band of ₹197 to ₹207 per equity share. They said that if the bull trend on Dalal Street continues, then in that case grey market is signaling that DCX Systems IPO listing price would be around ₹300 where a lucky allottee may expect listing gain to the tune of ₹90 to ₹100 per share.
However, stock market experts maintained that GMP is not an ideal indicator about the prospective listing premium from a public offer. They said that GMP is completely speculative number as it has nothing to do with the balance sheet of the company. They went on to add that GMP is non-regulated and hence it can be artificial as well. So, one should stick to the basics and scan financials of the company in stead of these speculative GMP numbers of the IPO.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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