30 Apr , 2022 By : Kanchan Joshi
Campus Activewear IPO: Bidding for the public issue of Campus Activewear ended on 28th April 2022 and now bidders and market observers are eagerly waiting for share allocation announcement, which is most likely on 4th May 2022. As per Campus Activewear IPO subscription status, the public issue worth Rs1400 crore has been subscribed 51.75 times in 3 days bidding whereas its retail portion has been subscribed 7.68 times. Taking cue from strong subscription, grey market is also responding strongly in favour of the public offer. As per the market observers, Campus Activewear shares are available at a premium of Rs105 in grey market today.
Campus Activewear IPO GMP
According to market observers, Campus Activewear IPO grey market premium (GMP) today is Rs105, which is Rs25 higher from its Friday evening GMP of Rs80. According to market observers, robust subscription status could be a possible strong reason for such a huge jump in Campus Activewear IPO GMP today. They went on to add that bidders have responded strongly in favour of the public issue in such a weak secondary market. Hence, grey market was bound to respond positively and it did exactly what was expected by market observers. Observers went on to add that much will depend on the market sentiment. If there is trend reversal and grey market may go ultra bullish on Campus Activewear shares in near term.
What this GMP mean?
Market observers maintained that grey market premium means expected listing gain from the public issue. As Campus Activewear IPO GMP today is Rs100, it means grey market is expecting Campus Activewear IPO listing around Rs397 ( Rs292 Rs105).
However, stock market experts said that GMP is an unofficial and non-regulated data, which can't be relied blindly. They said that GMP has nothing to do with the financials of the company. So, one should look at the balance sheet of the company that gives concrete picture of the public issues fundamentals.
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