BackSJS Enterprises IPO: What GMP reflects ahead of share listing date
SJS Enterprises IPO GMP today is ₹62, which is ₹22 higher from its Friday evening grey market premium of ₹40, said market observers
PremiumSJS Enterprises IPO listing date is falling on Monday and suddenly grey market has started giving positive signals in regard to the public issue worth ₹800 crore. As per the market observers, shares of SJS Enterprises are available at a premium of ₹62 in the grey market today, which is ₹22 higher from its Friday grey market premium.
SJS Enterprises IPO GMP
According to the market observers, SJS Enterprises IPO GMP (grey market premium) today is ₹62, which is ₹22 higher from its Friday evening grey market premium of ₹40. On Friday morning, SJS Enterprises IPO grey market price was ₹28. Market observers said that SJS Enterprises IPO GMP went up on Friday after the upside movement move in the stock market. They maintained that SJS Enterprises IPO GMP had remained subdued due to the recent stock market's sideways trend with negative bias. They expected moderate listing gain from the public issue if the market mood remains positive on the listing date i.e. Monday.
What this GMP mean?
Market observers maintained that GMP is nothing but an unofficial estimate by the grey market in regard to listing gain by the IPO. As SJS Enterprises IPO GMP today is ₹62, this simply means that grey market is expecting SJS Enterprises IPO listing at around ₹604 ( ₹542 + ₹62), near 10 per cent higher from its price band of ₹531 to ₹542 per equity share.
Speaking on the fundamentals of SJS Enterprises; Astha Jain, Research Analyst at Hem Securities said, "Company is bringing the issue at price band of ₹531 to ₹542 per share at P/E multiple of 35 on FY21 EPS (Earning Per Share). Company being leading aesthetics solution provider with an extensive suite of premium products in a growing industry, has strong manufacturing capabilities supported by an established supply chain and delivery mechanism .Company has strong innovation and product design and development capabilities with long-standing customer relationships & has strong financial position and track record of financial performance."
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!
