11 Dec , 2021 By : Kanchan Joshi
Tega Industries IPO: After finalisation of share allotment, all eyes are now set on Tega Industries IPO listing date i.e. 13th December 2021. After attracting robust 219.04 times subscription, shares of the Tega Industries are expected to list at high premium. Grey market is also signaling about the same. According to market observers, shares of Tega Industries are trading at a premium of Rs300 in the grey market today, indicating near 65 per cent listing gain from the public issue worth rs619.23 crore.
Tega Industries IPO GMP
Market observers said that Tega Industries IPO GMP today is Rs300, which is steady from its Friday grey market premium (GMP). They said that Tega Industries shares have been oscillating around Rs300 after the closure of its bidding that is because of the strong response given by investors. They went on to add that strong subscription and trend reversal in the market have helped shares of Tega Industries to remain steady in the grey market. Grey market giving premium to the tune of 65 per cent can be taken as strong share listing signals from the grey market, market observers said.
What this GMP mean?
As per the market observers, GMP is an indication from teh grey market about the listing gain from an IPO. As Tega Industries IPO GMP today is Rs300, it means grey market is expecting that shares of Tega Industries would list around Rs753 ( Rs453 Rs300), which is around 65 per cent higher from its price band of Rs443 to Rs453 per share.
Expecting Tega Industries IPO listing at higher premium; Abhay Doshi, Founder at UnlistedArena.com said, "Market is very selective with respect to the IPOs and the funds are flowing to those issues which provide better opportunity. Tega Industries IPO got a decent response owing to reasonable pricing and growth prospects. Therefore, Tega Industries IPO seems to be a candidate for strong listing gains."
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