Home / Markets / Stock Markets /  Krsnaa Diagnostics IPO: What GMP signals ahead of listing of shares

Krsnaa Diagnostics IPO: After finalisation of the share allotment, bidders are eagerly waiting for the listing of Krsnaa Diagnostics IPO listing date i.e. 17th August 2021. Meanwhile, lucky bidders are keeping their eye on the grey market as well. For such bidders, Krsnaa Diagnostics IPO GMP today is 315, 5 up from its yesterday's grey market premium of 310. According to market observers, Krsnaa Diagnostics IPO grey market premium has been oscillating in the range of 300 to 350 for the last seven days. Since, share allotment of the company is finalised, market observers said that steady grey market premium can be an indication about the possible listing gain from the public issue.

As per the market observers, initially shares of Krsnaa Diagnostics were available at the premium of 455 but it came down towards 425 at the time of subscription opening. However, after closure of the bidding, Krsnaa Diagnostics share have been trading at premium of 300 to 350. Krsnaa Diagnostics GMP today is 315 that means one can expect around 30 to 35 per cent premium after the listing of shares at Indian bourses. Market observers said that listing premium to such extent in the grey market premium is an indication that grey market is expecting moderate to reasonable listing gain from the public issue.

Krsnaa diagnostics IPO: What this GMP mean

In grey market, GMP is taken as expected listing premium from a public issue. Since, Krsnaa Diagnostics IPO grey market premium today is 315 that simply means grey market is expecting Krsnaa Diagnostics IPO listing at around 1269 ( 954 + 315).

On expected listing premium that financials of the company suggests; Abhay Doshi, Founder at UnlistedArena.com said, "I am expecting very reasonable listing gains for Krsnaa Diagnostics IPO. If the market conditions remain favourable, it may get listed at around 1200 to 1250 per equity share levels."

Highlighting the fundamentals that may support listing of Krsnaa Diagnostics shares; Astha Jain, Research Analyst at Hem Securities said, "Company is bringing the issue at price band of 933 to 954 per share at EV/EBIDTA multiple of 34. We like Unique and scaled business model of the company. Krsnaa Diagnostics with its strong brand equity has extensive footprint across India with robust infrastructure. With robust revenue visibility, company is well positioned to capitalize on healthcare spending across public and private sectors."

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