12 Aug , 2021 By : Kanchan Joshi
Krsnaa Diagnostics IPO: After getting subscribed over 64 times of its initial offer, Krsnaa Diagnostics shares have been trading at a premium range of Rs300 to Rs350 in grey market for the last five days. According to market observers, Krsnaa Diagnostics IPO GMP during subscription was at Rs425 to Rs450 but once the bidding closed, it came down to around Rs300 to Rs350. However, market observers are of the opinion that grey market premium above Rs300 is a strong signal as the issue price of the Krsnaa Diagnostics IPO has been fixed at Rs933 to Rs954. They said that 30-35 per cent listing gain indicated by the grey market for last few days signals about moderate to reasonable listing of Krsnaa Diagnostics shares at Indian bourses.
Krsnaa Diagnostics IPO: Grey market conviction
Krsnaa Diagnostics IPO GMP today is Rs310. According to market observers, Krsnaa Diagnostics IPO grey market premium has been consistently oscillating in Rs300 to Rs350 range that means grey market is expecting around 30 to 35 per cent listing gain from this public issue. They said that such listing premium in the grey market indicates about moderate to reasonable listing of the Krsnaa Diagnostics shares at Indian bourses.
What this GMP mean for Krsnaa Diagnostics shares?
Market observers maintained that grey market premium of a public issue is an indication about the expected listing premium from the IPO. As Krsnaa Diagnostics IPO grey market premium today is RS310, this means grey market is expecting listing of Krsnaa Diagnostics IPO at Rs1264 ( Rs954 Rs310).
On expected listing premium that financials of the company suggests; Abhay Doshi, Founder at UnlistedArena.com said, "I am very reasonable listing gains for Krsnaa Diagnostics IPO. If the market conditions remains favourable, it may get listed at around Rs1200 to Rs1250."
On financials that may lead to favourable listing for the bidders; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the FY-21 diluted EPS of Rs12.25, the company is going to list at a P/E of 77.88 with a market cap of Rs2,994.1 crore, while its peers namely Dr Lal Path Labs and Metropolis Healthcare are trading at a P/E of 75.15 and 79.71 respectively."
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