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Business News/ Markets / Ipo/  Nexus Select Trust REIT IPO: GMP jumps 25% after closure of subscription
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Nexus Select Trust REIT IPO: GMP jumps 25% after closure of subscription

Nexus Select Trust REIT IPO GMP today is ₹5, say market observers

Nexus Select Trust IPO subscription status: The public issue has been subscribed 5.45 times in three days of bidding from 9th to 11th May 2023. (Shutterstock)Premium
Nexus Select Trust IPO subscription status: The public issue has been subscribed 5.45 times in three days of bidding from 9th to 11th May 2023. (Shutterstock)

Nexus Select Trust IPO: After strong response by investors to this India's first retail REIT issue, grey market has gone bullish on Nexus Select Trust IPO. As per the Nexus Select Trust IPO subscription status, the public issue got subscribed 5.45 times whereas its QIB portion got subscribed 4.81 times and it got subscribed 6.23 times in other categories. After the closure of Nexus Select Trust IPO subscription, shares of the company are available at a premium of 5 per share in grey market today

Nexus Select Trust REIT IPO GMP today

According to market observers, Nexus Select Trust IPO GMP (grey market premium) today is 5, which is Re 1 higher from its Thursday's GMP of 4. On Friday, the GMP of the public issue was 5 per share. This means, Nexus Select Trust REIT IPO GMP is steady on weekend.

 Market observers said that rise in GMP can be attributed to strong response by investors even though secondary market mood is highly volatile. They said that grey market has remained positive on the public issue worth 3,200 crore ever since its shares made debut in the grey market. They said that grey market is signaling that the public issue may have a positive debut on its listing on BSE and NSE.

What this GMP mean?

Market observers went on to add that Nexus Select Trust IPO GMP today is 5, which means grey market is expecting that Nexus Select Trust IPO listing price would be around 105 ( 100 + 5), which is 5 per cent higher from Nexus Select Trust IPO price of 95 to 100 per equity share. Thus, grey market has a positive news in regard to Nexus Select Trust IPO subscribers as the unlisted market is expecting 5 per cent premium from the retail REIT issue.

However, stock market experts maintained that one should not rely blindly on the GMP as it is non regulated and completely speculative. They said that grey market involves even those who have high stake involved in the IPO. So, there are chances that GMP can be artificially lifted by those stakeholders.

Nexus Select Trust IPO subscription status

After three days of subscription, Nexus Select Trust IPO got subscribed 5.45 times whereas its QIB portion got subscribed 4.81 times and it got subscribed 6.23 times in other categories. The subscription for the IPO had opened on 9th May 2023 and it was closed on 11th May 2023.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 12 May 2023, 12:56 PM IST
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