Business News/ Markets / Ipo/  Mankind Pharma IPO: What GMP signals as all eye set on share listing date?

Mankind Pharma IPO: Shares of Mankind Pharma Limited is expected to list on BSE and NSE soon and most likely Mankind Pharma IPO listing date is 9th May 2023 i.e. tomorrow. Ahead of Mankind Pharma IPO listing, lucky allottees and market investors are busy calculating the expected listing premium from Mankind Pharma IPO listing. For such allottees and market observers, there is a piece of good news. Mankind Pharma IPO grey market premium (GMP) today has surged despite weakness on Dalal Street on Friday. According to market observers, shares of Mankind Pharma Limited are available at a premium of 103 per equity share.

Mankind Pharma IPO GMP today

According to market observers, Mankind Pharma IPO GMP today is 103, which is 3 higher from its yesterday's GMP of 100. Market observers said that Mankind Pharma IPO GMP has surged today despite sell off in secondary markets on Friday because weakness on Dalal Street was mainly due to HDFC twins rebalancing by MSCI. Auto and some other stocks remained strong during HDFC twins fueled sell off. Probably, this has worked in favour of the Mankind Pharma IPO in grey market, they said.

What this GMP mean?

Market observers maintained that Mankind Pharma IPO GMP today is 103, which means grey market is expecting that Mankind Pharma IPO listing price would be around 1183 ( 1080 + 103), which is around 9.50 per cent higher from Mankind Pharma IPO price band of 1026 to 1080 per equity share. So, the grey market is signaling that Mankind Pharma IPO will have a positive listing but it won't be a whopping premium that a lucky allottee can expect from this Manforce and Prega News manufacturer company's stock listing.

However, stock market experts maintained that grey market is not an ideal indicator about the expected listing premium as it involves even those who have high stake involved with the public issue. They also said that GMP is completely speculative and it is non regulated. So, sometimes GMP of an IPO given artificial appreciation or depreciation as well. So, one should stick to the basics and scan balance sheet and financial details of the company as it gives concrete fundamental picture of the company.

Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Updated: 08 May 2023, 08:57 AM IST
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