Medanta operator Global Health IPO: What GMP reflects ahead of listing date

Medanta operator Global Health IPO: After closure of subscription, bidders are eagerly waiting for Global Health IPO or Medanta IPO listing date, which is most likely on 16th November 2022. The public issue worth ₹2,205.57 crore was subscribed 9.58 times in three days of bidding from 3rd to 7th November 2022. Meanwhile, grey market is also dropping signals in regard to listing premium one can expect from the public issue. As per the market observers, shares of Global Health Ltd that operates multi-speciality Medanta Hospital chain in India, are available at a premium of ₹23 in grey market today.

Global Health IPO GMP today

Market observers said that Medanta operator Global Health IPO GMP today is ₹23, which is ₹3 higher from its yesterday's GMP of ₹20. They said that market is expecting gap up opening today and there was trend reversal on Friday as well. So, these all factors are working in favour of the Global Health share price in grey market. However, they maintained that such GMP is much below its issue price of ₹319 to ₹336 per equity shares. They said that such GMP is a signal that Global Health shares may have a 'moderate' listing on Wednesday this week.

What this Medanta IPO GMP means?

Market observers went on to add that Medanta IPO GMP today is ₹23, which means grey market is expecting that the public issue would list at around ₹359 ( ₹336 + ₹23), which is around 7 per cent higher from the upper price band of the IPO. Market observers went on to add that grey market is signaling that in case of bull trend on Dalal Street, we may expect 'moderate' debut of Global Health shares.

However, stock market observers maintained that it's financials of the company that gives concrete picture of the company's fundamentals. They advised bidders to scan balance sheet of the company and stick with their conviction after going through the financials of the company as GMP is a speculative number that has no connection with the balance sheet of the company.