PN Gadgil Jewellers IPO: What GMP signals ahead of share listing date

  • PN Gadgil Jewellers IPO GMP: According to market observers, shares of the company are available at a premium of 301 in the grey market today

Asit Manohar
Updated16 Sep 2024, 03:16 PM IST
PN Gadgil Jewellers IPO GMP: According to market observers, the grey market is signaling that PN Gadgil Jewellers IPO listing price would be around  <span class='webrupee'>₹</span>781.
PN Gadgil Jewellers IPO GMP: According to market observers, the grey market is signaling that PN Gadgil Jewellers IPO listing price would be around ₹781.(Photo: Courtesy PN Gadgil Jewellwers Limited)

PN Gadgil Jewellers IPO: After the announcement of PN Gadgil Jewellers IPO allotment status, allottees and stock market observers are eagerly waiting for the PN Gadgil Jewellers IPO listing date, which is most likely on 17th September 2024, i.e. on tomorrow's. In the wake of the 'T+3' listing rule, the public must list within three working days after the subscription date. Bidding for the PN Gadgil Jewellers IPO closed on 12th September 2024; hence, PN Gadgil Jewellers' shares are expected to be listed on 17th September 2024.

PN Gadgil Jewellers IPO GMP today

Meanwhile, ahead of the PN Gadgil Jewellers IPO listing date, shares of the jewellery brand continue to trade at a higher premium. According to stock market observers, PN Gadgil Jewellers Limited shares are trading at a premium of 301 in the grey market today, which means PN Gadgil Jewellers IPO GMP (Grey Market Premium) today is 301. However, it is 29 lower than Friday's PN Gadgil Jewellers IPO GMP of 330. They said a dip in the grey market sentiment can be attributed to the weak closing on Friday. However, they maintained that PN Gadgil Jewellers' IPO GMP is still signalling that PN Gadgil Jewellers' IPO listing is at a stellar premium.

PN Gadgil Jewellers IPO listing price prediction

Market observers said that PN Gadgil Jewellers IPO GMP today is 301, which means the grey market expects that PN Gadgil Jewellers IPO listing price will be around 781 ( 480 + 301). So, the grey market hints ahead of the share listing date that an allottee may expect a 63 per cent listing gain on one's investment.

However, stock market experts said that GMP is not an ideal indicator to assess the kind of listing gain that allottees may expect. They told the grey market is non-regulated and has no connection with the company's balance sheet. They advised PN Gadgil Jewellers IPO allottees to follow this basic fundamental and stick with the conviction they have developed after scanning the company's financials.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly, and individual circumstances may vary.

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First Published:16 Sep 2024, 03:16 PM IST
Business NewsMarketsIPOPN Gadgil Jewellers IPO: What GMP signals ahead of share listing date

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