Dharmaj Crop Guard IPO: What GMP signals as all eyes set on allotment date
Premium- Dharmaj Crop Guard IPO GMP today is ₹56, say market observers
Dharmaj Crop Guard IPO: After closure of subscription for the initial public offering (IPO) of Dharmaj Crop Guard Limited, bidders and market observers are eagerly waiting for the finalisation of share allotment date, which is most likely on 5th December 2022. Meanwhile, following strong global cues and positive Dalal Street sentiments, grey market has managed to remain bullish on Dharmaj Crop Guard IPO. According to market observers, shares of Dharmaj Crop Guard Ltd are available at a premium of ₹56 in grey market today.
Dharmaj Crop Guard IPO GMP today
Market observers said that Dharmaj Crop Guard IPO grey market premium (GMP) today is ₹56, which is unchanged from its Thursday GMP. This means, despite range-bound trade on Thursday, grey market sentiments in regard to Dharmaj Crop Guard IPO has remained steady. Observers went on to add that US Fed' indication 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 Dharmaj Crop Guard shares.
What this GMP means?
Market observers maintained that Dharmaj Crop Guard IPO GMP today is ₹56, which means grey market is expecting that the public issue worth ₹251.15 crore may list at around ₹293 ( ₹237 + ₹56), which is around 24 per cent higher from its upper price band of ₹237 per equity share. So, grey market is expecting strong debut of Dharmaj Crop Guard shares.
However, stock market experts advised bidders to rely on the financials of the company instead of GMP as the later is a non-regulated figure, which has no connect with the company's fundamentals.
Dharmaj Crop Guard IPO details
As per the tentative schedule of the public issue, Dharmaj Crop Guard IPO allotment date is most likely on 5th December 2022 whereas it is proposed for listing on BSE and NSE. The tentative Dharmaj Crop Guard IPO listing date is 8th December 202.
