Venus Pipes IPO: What GMP reflects as focus shifts towards allotment date
- Venus Pipes IPO GMP today is ₹22, which is ₹8 lower from its yesterday's grey market premium of ₹30, say market observers
Venus Pipes IPO: After closure of three days subscription of Venus Pipes & Tubes Limited public offer, all eyes are now set on Venus Pipes IPO allotment date, which is most likely on 19th May 2022. Grey market has also become more sensitive towards the public issue worth ₹165.42 crore. According to market observers, Venus Pipes share price is quoting at a premium of ₹22 in grey market today.
Venus Pipes IPO GMP today
Market observers said that Venus Pipes IPO grey market premium (GMP) today is ₹22, which is ₹8 lower from its yesterday's grey market premium of ₹30. They said that Venus Pipes IPO GMP has fallen on second successive day as it was at ₹35 on Thursday. market observers said that Venus Pipes IPO GMP has been falling due to the weak secondary market sentiments as NSE Nifty lost near 4 per cent in last one week.
What this Venus Pipes IPO GMP mean?
Market observers said that Venus Pipes IPO GMP today is ₹22, which means grey market is expecting that Venus Pipes IPO listing may happen around ₹348 ( ₹326 + ₹22), which is near 7 per cent higher from its price band of ₹310 to ₹326 per equity share.
However, stock market experts said that GMP is not an ideal indicator about success of failure of an IPO. They said that grey market premium is an unofficial data, which is non-regulated as well. So, one should look at the balance sheet of the company instead of grey market sentiments as financials of the company gives better and concrete picture of the company.
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