- The shares of Chemcon Speciality Chemicals will hit the bourses today.
- The grey market premium today was trading at ₹380-₹390 apiece, pointing towards the listing gains of nearly 111% over the issue price band.
- It received bids for 976 million equity shares against the IPO size of over 6.5 million equity shares.
The grey market premium today was trading at ₹380-₹390 apiece. Although, the grey market premium isn’t an official measure of the market premium. But it gives a fair idea of the demand for the shares in the market. Grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares.
The grey market premium (GMP) of Chemcon took a massive hit last week due to weak market fundamentals amid the global selloff. However, it has seen a sharp revival, compared to its other IPO peers.
Robust demand for
The ₹318 crore initial public offering (IPO) of Chemcon saw a stellar demand for its shares in the market, and the 149 times oversubscription on the final day of bidding during IPO is proof of that.
It received bids for 976 million equity shares against the IPO size of over 6.5 million equity shares, as per the subscription data from the stock-exchanges.
Ahead of the IPO, the company also raised ₹95.4 crore from several anchor investors, including IDBI Emerging Business Fund, ICICI Prudential Child Care Plan, IIFL Special Opportunities, HSBC Global Investment, Mirae Asset Health Care, Kuber India, Ashmore India, India Acorn and Tata Multi-Asset Fund among others.
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