Sah Polymers IPO: What GMP signals as all eye set on share allotment date
2 min read . Updated: 06 Jan 2023, 07:39 AM IST
Premium- Sah Polymers share price premium has dipped from ₹15 to Re 1 in last 60 hours in grey market, say primary market observers
Sah Polymers IPO: After closure of bidding for the IPO (Initial Public Offering) of Sah Polymers, bidders are eagerly waiting for finalisation of share allocation. As per the tentative schedule of the public issue worth ₹66.30 crore, Sah Polymers IPO allotment date is most likely on 9th January 2023.
Meanwhile, due to weak sentiments on Dalal Street, grey market sentiments in regard to the public issue has dropped drastically in last 60 hours. According to primary market observers, shares of Sah Polymers are available at a premium of Re 1 in grey market today.
Sah Polymers IPO GMP today
Primary market observers went on to add that Sah Polymers IPO grey market premium (GMP) today is Re 1, which was ₹5 on Thursday. This means, Sah Polymers IPO GMP has dipped from ₹5 to Re 1 in last 24 hours. However, it would be interesting to know that in last 60 hours, Sah Polymers IPO grey market sentiment has depreciated from ₹15 to Re 1. Highlighting upon the reasons for Sah Polymers IPO GMP nosedive, market observers said that dip in secondary markets for last two successive days could be the major reasons. Apart from this, global cues are also negative as minutes from the Federal Reserve’s meeting sounded a cautious tone on interest rates. So, grey market sentiments have dropped with an expectation that both global and domestic markets are under the bears' grip these days.
What this GMP means?
Market observers maintained that Sah Polymers IPO GMP today is Re 1, which means grey market is expecting that Sah Polymers IPO listing would take place around its upper price. Experts said that despite weak sentiments from all corners, grey market is expecting positive or par listing of the public issue, which is a big boost for the bidders. Once, there is trend reversal at secondary markets, we can expect the grey market morale to go northward in regard to Sah Polymers IPO.
Sah Polymers IPO details
In four days bidding from 30th December 2022 to 4th January 2023, the public issue was subscribed 17.46 times whereas its retail portion got subscribed 39.78 times. In NII category, the public issue received 32.69 times subscription while it got subscribed 2.40 times in QIB category.
Sah Polymers IPO allotment date is most likely on 9th January 2023. The public issue is proposed for listing on both NSE and BSE and tentative Sah Polymers IPO listing date is 12th January 2023.
