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Business News/ Markets / Ipo/  Rashi Peripherals IPO: GMP reflects decent debut of shares ahead of listing date
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Rashi Peripherals IPO: GMP reflects decent debut of shares ahead of listing date

Rashi Peripherals IPO GMP: The grey market is signaling that Rashi Peripherals IPO listing price woould be around ₹371 level, say market observers

Rashi Peripherals IPO listing date: In the wake of the T+3 listing rule, Rashi Peripheral shares are likely to list on 14th February 2024. (Photo: Courtesy company website)Premium
Rashi Peripherals IPO listing date: In the wake of the T+3 listing rule, Rashi Peripheral shares are likely to list on 14th February 2024. (Photo: Courtesy company website)

Rashi Peripherals IPO: After the announcement of share allocation, lucky allottees are eagerly waiting for the Rashi Peripherals IPO listing date, which is most likely on 14th February 2024 i.e. tomorrow. The reason for expecting Rashi Peripherals IPO listing on Wednesday is because of the T+3 listing rule which has become mandatory for each public issue from 1st December 2023. However, it is for sure that Rashi Peripherals IPO listing date is fast approaching and the grey market has an idea about it.

Ahead of the Rashi Peripherals IPO listing date, the grey market is signaling that allottees may have a decent return on their money. According to stock market observers, after the announcement of Rashi Peripherals IPO allotment status, shares of Rashi Peripherals Limited are available at a premium of 60 in the grey market today.

Rashi Peripherals IPO GMP today

As per the stock market observers, Rashi Peripherals IPO GMP (grey market premium) today is 60, which is 16 lower than the Tuesday morning GMP of 76. This has happened despite the trend reversal on Dalal Street. Observers said that the grey market is settling down with the fair value of the public issue and a 60 premium still signals a decent debut of Rashi Peripherals shares.

Rashi Peripherals IPO listing price prediction

Market observers went on to add that Rashi Peripherals IPO GMP today is 60, which means the grey market is expecting that Rashi Peripherals IPO listing price would be around 371 ( 311 + 60), which is around 19 percent higher than Rashi Peripherals IPO price band of 295 to 311 per equity share. So, despite the dip in Rashi Peripherals IPO GMP today, the grey market still reflects a decent debut of Rashi Peripherals shares on Dalal Street.

However, stock market experts maintained that GMP is not an ideal indicator of possible listing premium as it is non-regulated and completely speculative. They went on to add that the grey market sometimes involves even those who have a high stake in the public issue. They advised allottees to stick with the basics and scan the balance sheet of the company as it would give a concrete fundamental picture of the company and its business.

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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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 13 Feb 2024, 03:11 PM IST
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