Ixigo IPO
The Grey Market Premium (GMP) for Ixigo's Initial Public Offering (IPO) has remained stable at ₹24 for the second day in a row. This indicates that shares of Ixigo's parent company, Le Travenues Technology Ltd, are trading ₹24 higher than the issue price of ₹93 per share in the unofficial grey market.
Market observers believe this steady GMP is a positive sign for the IPO, especially considering the recent volatility in the stock market. The strong response from investors during the first day of subscription on June 10th could also be contributing to the stable GMP.
What is GMP?
GMP, or Grey Market Premium, is an unofficial indicator of the potential listing price of an IPO share. It represents the premium that investors in the grey market are willing to pay for the shares above the issue price. It's important to note that the grey market is not a regulated exchange, and GMP is not an exact science. However, it can provide some insight into investor sentiment towards an upcoming IPO.
Ixigo IPO Details
Ixigo's IPO opened for subscription on June 10th and will close on June 12th. The company is looking to raise ₹740.10 crore through the IPO, which will be a mix of fresh issue and offer for sale (OFS). The price band for the IPO has been set at ₹88 to ₹93 per share. The lot size for the IPO is 161 shares, requiring a minimum investment of ₹14,973 from retail investors.
Positive Investor Response
Early signs suggest that the Ixigo IPO is generating good interest from investors. The IPO received a robust response on the first day, with bids exceeding the number of shares available. This strong initial subscription could be another factor behind the steady GMP.
Listing and Allotment
The allotment of Ixigo IPO shares is expected to be finalized on June 13th. If you applied for the IPO, you will be able to check your application status online around that date. The listing of the shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is expected to take place on June 18th.
Important Note
While the GMP suggests potential listing price above the issue price, there is no guarantee. The actual listing price of the shares will be determined by market forces on the day of listing. Investors should carefully consider their investment goals and risk tolerance before applying for any IPO.
- Ixigo IPO
- Ixigo GMP
- Grey Market Premium
- Le Travenues Technology Ltd
- IPO Subscription
- Issue Price
- Listing Price
- Stock Market Volatility
- Investment
- Retail Investors
- Allotment
- Listing Date
