Rolex Rings IPO: What GMP is signaling ahead of listing of shares1 min read . Updated: 07 Aug 2021, 10:50 AM IST
- Roles Rings IPO grey market premium today is ₹420 per equity share
Rolex Rings IPO: After the share allotment finalisation, all eyes are now set on Rolex Rings share listing on Monday i.e. 9th August 2021. The public issue got subscribed 130.44 times and market observers are expecting strong listing of the auto component company. In fact, grey market is also indicating about strong listing of the Rolex Rings shares as it has consistently maintained grey market premium above ₹400 since it became available for subscription. Market observers said that Rolex Rings IPO GMP today is ₹420 and they went on to add that Rolex Rings IPO grey market premium has been oscillating around ₹400 to ₹450 after the closure of its bidding. They said that grey market is also expecting around 40 per cent return for the lucky bidders who got shares during allotment.
Rolex Rings share price in grey market
Rolex Rings shares are available at ₹420 premium today in the grey market. This means, Roles Rings IPO grey market premium today is ₹420 and the expected listing of the auto component company's shares at the Indian bourses is around ₹1320 ( ₹900 + ₹420). Market observers maintained that during subscription period, Rolex Rings IPO GMP continuously oscillated around ₹525 to ₹550 but after the closure of the public issue, it has consistently remained above ₹400. They said that such a consistent performance of the Rolex Rings IPO in the grey market signals strong listing of the company shares.
What this GMP means for Rolex Rings IPO
According to market observers, grey market premium means short-term sentiment in regard to the concerned public issue. It simply taken as the listing gain that one can expect at that time. But, it's completely unofficial but people look at it as an immediate market indicator in regard to the IPO. As Rolex Rings has been oscillating in the range of ₹400 to ₹450, one can make a conclusion that grey market is expecting Rolex Rings share listing at around ₹1300 ( ₹900 + ₹400) to ₹1350 ( ₹900 + ₹450). Means expected listing gain by the grey market from Rolex Rings IPO is around 40 to 50 per cent.
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