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Business News/ Markets / Ipo/  Platinum Industries IPO allotment status out. GMP jumps as focus shifts on share listing date
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Platinum Industries IPO allotment status out. GMP jumps as focus shifts on share listing date

Platinum Industries IPO GMP today is ₹102, which is ₹222 higher from Friday's GMP of ₹80, say market observers

Platinum Industries IPO listing date: In the wake of the T+3 listing rule, shares of the company are expected to hit the secondary market on 5th March 2024 i.e. on Tuesday next week. (Platinum Industries Ltd facebook handle)Premium
Platinum Industries IPO listing date: In the wake of the T+3 listing rule, shares of the company are expected to hit the secondary market on 5th March 2024 i.e. on Tuesday next week. (Platinum Industries Ltd facebook handle)

Platinum Industries IPO: After the announcement of allotment status, bidders are eagerly waiting for the Platinum Industries IPO listing date. As the T+3 rule of listing has become mandatory from 1st December 2023, Platinum Industries IPO listing date is most likely on 5th March 2024 i.e. on Tuesday next week. Meanwhile, after the announcement of Platinum Industries IPO allotment status, the grey market has gone highly bullish on the public issue. According to stock market observers, Platinum Industries IPO GMP (grey market premium) today is 102, which is around 60 percent of the Platinum Industries IPO price band of 162 to 171 per equity share.

Platinum Industries IPO GMP today

As mentioned above, Platinum Industries IPO GMP today is 102 per share, which is 22 higher than Friday's GMP of 80. Market observers said that the rise in the grey market sentiments can be attributed to the strong response received by the public issue by the primary market investors and the strong bull trend on Dalal Street. They said that the book build issue received bids close to 100 times its offer whereas the Indian stock market rallied strongly on Friday following strong global market sentiments. They expected this strong bias in the grey market to further continue as global market trends are expected to continue powering the Indian primary and secondary markets.

Also Read: Platinum Industries IPO allotment finalised. Latest GMP, steps to check allotment status online

Platinum Industries IPO listing price

Market observers went on to add that Platinum Industries IPO GMP today is 102, which means the grey market is expecting that the Platinum Industries IPO listing price would be around 273 ( 171 + 102), which is around 60 percent higher than the Platinum Industries IPO price band of 162 to 171 per equity share. So, after the announcement of Platinum Industries IPO allotment status, the grey market is signaling around 60 percent listing gain for the lucky allottees.

Infographic: Courtesy mintgenie
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Infographic: Courtesy mintgenie

However, stock market investors maintained that the grey market premium should be taken seriously as it is non-regulated and has no connection with the financials of the company. They said that the grey market even involves those who have a high stake in the public issue. They advised allottees to stick with the conviction that they had developed at the time of applying for the book build issue.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 02 Mar 2024, 03:20 PM IST
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