IPO GMPs: Amir Chand Jagdish Kumar IPO vs Powerica IPO vs Sai Parenteral's IPO - what grey market hints ahead of Day 3
Three IPOs—Amir Chand Jagdish Kumar Exports, Powerica, and Sai Parenterals—are closing for subscription on March 27. Amir Chand has received better traction, while Powerica shows muted demand. Overall subscription trends reflect cautious investor sentiment in the primary market amid volatility.
Three mainboard IPOs—Amir Chand Jagdish Kumar Exports Ltd, Powerica Ltd, and Sai Parenterals Ltd—are set to close for subscription on March 27, with mixed investor response so far.
Amir Chand Jagdish Kumar (Exports) IPO has seen relatively better traction, garnering 1.47 times subscription by the second day of bidding. Demand was largely driven by non-institutional investors (NIIs), whose portion was subscribed 5.24 times. However, participation from institutional and retail investors remained moderate, with the Qualified Institutional Buyers (QIBs) segment subscribed 78% and the Retail Individual Investors (RIIs) portion at 56%.
In contrast, Powerica IPO has witnessed muted demand, with the issue subscribed just 3% overall on Day 2. The retail segment showed marginal interest at 4%, while the NII category remained largely subdued at 1%, indicating cautious investor sentiment toward the offering.
Meanwhile, Sai Parenterals IPO has seen a modest response, achieving 41% subscription by the second day. The NII category was fully subscribed at 1.01 times, while QIBs showed moderate interest at 60%. Retail participation, however, remained weak, with only 5% subscription.
Overall, the mixed subscription trends reflect selective investor participation in the primary market amid prevailing volatility and cautious sentiment.
Let's take a look at the grey market premium (GMP) trends for the upcoming IPOs:
Amir Chand Jagdish Kumar (Exports) IPO GMP today
Amir Chand Jagdish Kumar IPO GMP is ₹6. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Amir Chand Jagdish Kumar shares is indicated as ₹218 apiece, which is 2.83% higher than the IPO price of ₹212.
According to the grey market activities from the last 14 sessions, today's IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0.00, whereas the maximum GMP is ₹7, as per experts.
Amir Chand Jagdish Kumar IPO will include solely new equity shares, with no element for offloading existing shares.
Known for its "Aeroplane" brand of basmati rice, the company plans to utilize the net funds raised from this offering to fulfill its working capital requirements and for general corporate activities.
Powerica IPO GMP today
Powerica IPO GMP is ₹1. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Powerica shares is indicated as ₹396 apiece, which is 0.25% higher than the IPO price of ₹395.
According to the grey market activities from the past 10 sessions, the present GMP ( ₹1) is indicating a trend towards a decline. The minimum GMP recorded is ₹0.00, while the maximum stands at ₹13, as noted by experts.
Powerica IPO consists of a new share issuance totaling ₹700 crore, in addition to a promoters' offer for sale (OFS) of shares worth ₹300 crore, as stated in the red herring prospectus (RHP).
The OFS amount has been decreased from ₹700 crore earlier, leading to a combined IPO size of ₹1,000 crore, down from the ₹1,400 crore that was originally suggested in the draft documents filed in August 2025.
Sai Parenteral's IPO GMP today
Sai Parenteral's IPO GMP today is ₹0, which means shares are trading at their issue price of ₹392 with no premium or discount in the grey market, according to investorgain.com.
Considering the grey market activities from the past 10 sessions, the current IPO GMP trend shows no significant changes. Experts anticipate that this trend will continue until the listing day.
The initial public offering consists of a fresh issue of as much as ₹285 crore and a divestment of approximately 32 lakh equity shares.
The capital generated from the IPO will support the company's forthcoming growth phase, particularly in advancing its global formulations sector and boosting its Contract Development and Manufacturing Organization capabilities for both injectable products and oral solid dosage forms, according to Anil KK, Chairman & Managing Director of SAI Parenteral's Ltd.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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