The shares of Mankind Pharma Limited are anticipated to be listed on BSE and NSE in the near future, with the most likely listing date being May 9, 2023, or tomorrow. Prior to the listing of Mankind Pharma’s IPO, fortunate allottees and market investors are calculating the anticipated listing premium.
There is some positive news for such allottees and market observers. Despite Friday’s weakness on Dalal Street, the Mankind Pharma IPO grey market premium (GMP) has increased today. According to market analysts, Mankind Pharma Limited shares are priced at a premium of 103 per share.
Mankind Pharma IPO GMP today
According to market analysts, today’s Mankind Pharma IPO GMP is 103, which is 3 more than yesterday’s GMP of 100. According to market observers, the Mankind Pharma IPO GMP surged today despite a decline in secondary markets on Friday, as the volatility on Dalal Street was primarily attributable to MSCI’s rebalancing of HDFC twins.
Despite the HDFC twins-driven sell-off, auto and a few other equities remained robust. They stated that this has likely benefited the Mankind Pharma IPO on the grey market.
What does the GMP mean?
The grey market forecasts that the Mankind Pharma IPO listing price will be approximately 1183 (1080 + 103), which is approximately 9.50 percent higher than the Mankind Pharma IPO price range of 1026 to 1080 per equity share.
So, the grey market indicates that Mankind Pharma’s IPO will have a successful listing, but the stock listing of this manufacturer of Manforce and Prega News will not result in a colossal premium.
However, stock market experts maintained that the grey market is not a reliable indicator of the anticipated listing premium because it includes parties with a high stake in the public offering. In addition, they stated that GMP is entirely speculative and unregulated.
Consequently, the GMP of an IPO is sometimes subject to artificial appreciation or depreciation. Therefore, one should adhere to the fundamentals and review the company’s balance sheet and financial details, as they provide a concrete, fundamental picture of the company.