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Venus Pipes IPO: What GMP reflects as focus shifts towards allotment date

14 May , 2022   By : Kanchan Joshi


Venus Pipes IPO: What GMP reflects as focus shifts towards allotment date

Venus Pipes IPO: After closure of three days subscription of Venus Pipes & Tubes Limited public offer, all eyes are now set on Venus Pipes IPO allotment date, which is most likely on 19th May 2022. Grey market has also become more sensitive towards the public issue worth Rs165.42 crore. According to market observers, Venus Pipes share price is quoting at a premium of Rs22 in grey market today.


Venus Pipes IPO GMP today


Market observers said that Venus Pipes IPO grey market premium (GMP) today is Rs22, which is rs8 lower from its yesterday's grey market premium of Rs30. They said that Venus Pipes IPO GMP has fallen on second successive day as it was at Rs35 on Thursday. market observers said that Venus Pipes IPO GMP has been falling due to the weak secondary market sentiments as NSE Nifty lost near 4 per cent in last one week.


What this Venus Pipes IPO GMP mean?


Market observers said that Venus Pipes IPO GMP today is Rs22, which means grey market is expecting that Venus Pipes IPO listing may happen around Rs348 ( Rs326 Rs22), which is near 7 per cent higher from its price band of Rs310 to Rs326 per equity share.


However, stock market experts said that GMP is not an ideal indicator about success of failure of an IPO. They said that grey market premium is an unofficial data, which is non-regulated as well. So, one should look at the balance sheet of the company instead of grey market sentiments as financials of the company gives better and concrete picture of the company.


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