BackPB Fintech IPO: What GMP signals ahead of PolicyBazaar share listing date
PolicyBazaar IPO grey market premium (GMP) today is ₹123, which is more than double from yesterday's PB Fintech IPO GMP of ₹55, market observers said
PremiumPB Fintech IPO listing date is fast approaching and market observers are busy finding out the listing gain that one can expect on Monday when PolicyBazaar shares list on Indian bourses. However, there is a piece of good news for lucky bidders of the PolicyBazaar IPO from the grey market as PB Fintech IPO GMP (Grey Market Premium) has more than doubled today.
PB Fintech GMP
According to market observers, PolicyBazaar IPO grey market premium (GMP) today is ₹123, which is more than double from yesterday's PB Fintech IPO GMP of ₹55. Market observers went on to add that after trading tepid for near one week, PB Fintech share price has skyrocketed in the grey market after the change in market sentiment on Friday. They said that for last one week, market sentiment was sideways with weak bias that affected the grey market as well. As the market sentiment has changed, they said that one can expect attractive listing of the public issue.
What this GMP mean?
Observers maintained that market mood plays an important role in the success of a public issue. As market sentiment got changed on Friday, if this sentiment continues on Monday, then PB Fintech shares may get strong listing as fundamentals of the company is quite promising. As GMP is simply an estimated listing gain from the IPO, ₹123 GMP of PB Fintech reflects that grey market is expecting PolicyBazaar share listing at around ₹1103 ( ₹980 + ₹123), which is around 12.50 per cent higher from the PB Fintech price band of ₹940 to ₹980 per equity share.
Speaking on the fundamentals of PB Fintech; Astha Jain, Research Analyst at Hem Securities said, "Company is bringing the issue at price band of ₹940 to 980 per share at p/s multiple of 23x & 17x on FY23E & FY24E. Company has created Consumer-friendly brands offering wide choice, transparency and convenience. Company being collaborative partner for Insurer and Lending Partners has high renewal rates providing clear visibility into future business and delivering superior economics. Company also derives benefits from economies of segmentation with low operating costs and capital requirements."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
