Divgi TorqTransfer Systems IPO: What GMP signals after share allotment
- Divgi TorqTransfer Systems IPO GMP today tumbled after stock market crash
Divgi TorqTransfer Systems IPO: After finalisation of share allotment, all eyes are now focussed on Divgi TorqTransfer Systems IPO listing date, which is most likely on 14th March 2023. However, after stock market crash on two straight sessions, grey market sentiments in regard to Divgi TorqTransfer Systems IPO has tumbled. According to market observers, shares of Divgi TorqTransfer Systems Ltd are availablea at a premium of ₹45 in grey market today.
Divgi TorqTransfer Systems IPO GMP
Market observers maintained that Divgi TorqTransfer Systems IPO GMP (grey market premium) today is ₹45, which is ₹25 lower from its Thursday GMP of ₹70 per equity share. They said that Divgi TorqTransfer Systems IPO GMP today tumbled due to the weakness in secondary market sentiments for last two days. Observers went on to add that in previous sell off, grey market had remained strong in regard to Divgi TorqTransfer Systems IPO. However, they maintained that despite heavy sell off in last two days, grey market sentiments are still positive and it is expecting premium on the listing date of this public issue.
What this GMP mean?
As Divgi TorqTransfer Systems IPO GMP today is ₹45, this means grey market is expecting that Divgi TorqTransfer Systems IPO listing would take place around ₹635 ( ₹590 + ₹45), which means around 7 per cent higher from its price band of ₹560 to ₹590 per equity share. They said that grey market sentiment may turn bullish again once their is trend reversal on Dalal Street.
However, stock market experts advised Divgi TorqTransfer Systems IPO allottees to stick with their conviction developed after scanning the balance sheet of the company. They said that GMP is not an ideal indicator about the possible listing gain from an IPO as it is non regulated and completely speculative. They went on to add that GMP can be artificial as well because sometimes it involved even those who have high stake involved in the public issue.
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