08 Oct , 2021 By : Kanchan Joshi
Aditya Birla AMC IPO GMP: After finalisation of share allotment of Aditya Birla Sun Life AMC, bidders and market observers are now anxiously waiting for Aditya Birla AMC IPO listing date, which is likely on 11th October 2021. However, those who got Aditya Birla AMC shares through allotment are keeping their eye on the grey market as well. According to market observers, Aditya Birla AMC shares are available today at a premium of Rs17 in the grey market.
Aditya Birla IPO grey market premium
Market observers went on to add that Aditya Birla AMC IPO GMP (grey market premium) today is Rs17, which is Rs18 lower from its Thursday's GMP of Rs35. They said that after surging on Wednesday and Thursday, Aditya Birla AMC IPO grey market price has once again come down. They said that after the share allotment announcement, this was expected as Aditya Birla AMC shares have surged from Rs2 discount to the premium of Rs35 in just two days. They said that Rs17 premium is an indication that grey market is expecting 'marginal listing gain' from the public issue.
What this GMP mean
Market observers maintained that sentiments in regard to Aditya Birla AMC IPO are more or less same. Rs17 GMP simply means expected Aditya Birla AMC IPO listing price is Rs729 ( Rs712 & Rs17) — marginally higher from the issue price band of Rs695 to Rs712 per equity share. However, market observers maintained that grey market is an unofficial data and one shouldn't rely on it so blindly. One should look at the financials of the company as balance sheet of the company speaks better than grey market.
Speaking on the fundamentals in regard to Aditya Birla AMC IPO; Abhay Doshi, Founder at UnlistedArena.com said, "At the upper band of Rs712, the issue looks priced in-line with its listed peers. On the basis of FY21 earnings, the issue is asking a PE multiple of 39, which seems moderate leaving a little room for short-term investors. The long term prospect of the company tends to be impressive owing to huge under-penetration in Capital Markets but at the same time, there are many alternatives present to play this theme."
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