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Glenmark Life, Rolex Rings IPOs: What GMP is signaling about the public issues

Glenmark Life, Rolex Rings IPOs: Grey market premium of these IPOs indicate that Glenmark Life Sciences IPO may have reasonable listing gains while Rolex Rings IPO may have strong listing at Indian bourses. (iStock)Premium
Glenmark Life, Rolex Rings IPOs: Grey market premium of these IPOs indicate that Glenmark Life Sciences IPO may have reasonable listing gains while Rolex Rings IPO may have strong listing at Indian bourses. (iStock)

  • Glenmark Life, Rolex Rings IPOs: Rolex Rings IPO GMP has remained steady after the closure of its bidding while Glenmark Life Sciences IPO GMP has been continuously going down

Glenmark Life, Rolex Rings IPOs: The final process for share allotment of Glenmark Life Sciences IPO and Rolex Rings IPO is under way. Allotment status for both Glenmark Life Sciences IPO and Rolex Rings IPO is expected to become public any time and hence those who have bid for the public issues are anxiously waiting for the announcement of share allotment of both IPOs. However, bidders are also keeping an eye on the grey market as both the issues had received strong response from the grey market ahead of its subscription opening. According to the market observers, grey market premium of Rolex Rings has remained steady after the closure of its bidding while Glenmark Life Sciences IPO GMP has been continuously going down.

Observers said that grey market premium of these IPOs indicate that Glenmark Life Sciences IPO may have reasonable listing gains while Rolex Rings IPO may have strong listing at Indian bourses. However, stock market experts maintained that Glenmark Life Sciences IPO looks strong from fundamental perspective in comparison to Rolex Rings in long-term perspective.

Glenmark Life, Rolex Rings IPO's latest GMP

As per the market observers, Glenmark Life Sciences IPO GMP today is 80, which was 85 on Tuesday and 90 on Monday. However, on the weekend, Glenmark Life Sciences IPO GMP was 95. So, Glenmark Life share price has been nosediving after its subscription got closed. However, Rolex Rings IPO has been steady in the grey market maintaining its grey market premium above 450 per equity share. Market observers said that dip in GMP post-subscription closure is obvious but the change in grey market premium of Rolex Rings IPO is not that much as it remained in the range of 525 to 550 during subscription period. Observers went on to add that this trend of the grey market of these two public issues reflects that Glenmark Life Sciences IPO will have reasonable listing gains while Rolex Rings IPO will have strong listing gains.

What this GMP mean for these IPO

Market observers said that Glenmark Life Sciences IPO grey market premium today is 80 that means grey market is expecting 80 listing gain today or the expected listing price of Glenmark shares is 800 ( 720 + 80). Similarly, 450 Rolex Rings IPO grey market premium means market is expecting around 50 per cent listing gains from the public issue and the expected listing price of Rolex Rings IPO in the grey market is 1350 ( 900 + 450).

However, stock market experts maintained that GMP of an IPO is a non-official indicator. Comparatively, Glenmark Life Sciences IPO financials are stronger in comparison to Rolex Rings IPO.

Speaking on financials of Rolex Rings and Glenmark Life Sciences IPOs; Abhay Doshi, Founder at UnlistedArena.com said, "From fundamental perspective, Glenmark Life Sciences IPO looks promising in long term. Glenmark Life Sciences IPO is slightly prices on the higher side while growth factor is missing in Rolex Rings IPO."

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