13 Aug , 2021 By : Kanchan Joshi
Car Trade vs Nuvoco Vistas IPOs: Bidding for Car Trade IPO and Nuvoco Vistas IPO is over and all eyes are now set on the allotment date of the respective public issues, which is expected on 17th August 2021. Car Trade initial offer got subscribed 20.29 times while Nuvoco Vistas IPO received 1.71 times subscription. Bidding for both public issues closed on 11th August 2021. Meanwhile, shares of Car Trade and Nuvoco Vistas are available for trade in the grey market. For the last five days, Car Trade shares are trading at Rs200 to Rs250 premium in the grey market while Nuvoco Vistas shares are available at a premium of Rs14 in the grey market.
Car Trade IPO GMP
According to market observers Car Trade IPO grey market premium today is Rs210. Car Trade IPO has been trading at Rs200 to Rs250 premium for the last five days. This means, grey market is expecting listing gain from the public issue in this range or in other words, the grey market is expecting listing of Car Trade IPO at around Rs1828 ( Rs1618 Rs210). Car Trade IPO issue price has been fixed at Rs1585 to Rs1618 that means grey market is expecting 12 to 15 per cent listing gain from Car Trade IPO. They went on to add that the way car Trade shares have been trading in the grey market, we can expect moderate to reasonable listing gain from the public issue.
Nuvoco Vistas IPO GMP
Market observers said that Nuvoco Vistas IPO grey market premium today is Rs14. They went on to add that share price premium of Nuvoco Vistas has come down from Rs40 to Rs14 in the last five days that indicates about the possible listing of the shares at around its price band of Rs560 to Rs570.
The market observers said that the way these two public issues have been performing in the grey market for the last five days, car Trade IPO may yield moderate to reasonable listing gain to its bidders while Nuvoco Vistas IPO may list around its issue price. However, they maintained that grey market is an unofficial data and it has nothing to do with the financials of the company. They said that financials of the company is more concrete than the grey market premium and hence bidders should not make any concluson in regard to these two IPOs before their listing at Indian bourses.
0 Comment