22 Sep , 2021 By : Kanchan Joshi
Sansera Engineering IPO GMP: After announcement of share allotment, bidders are eagerly waiting for Sansera Engineering IPO listing date. The tentative date for listing of Sansera Engineering shares at Indian bourses is 24th September 2021. Meanwhile, after finalisation of share allotment, market experts and successful bidders are keeping an eye on the grey market as well. As per the market observers, Sansera Engineering IPO Grey market premium (GMP) today is Rs35 — remaining unchanged for last two days. Market observers said that such steady GMP post-share allotment finalisation indicates par listing of the engineering company shares.
Sansera Engineering IPO GMP (grey market premium)
As mentioned above, Sansera Engineering IPO GMP has remained unchanged at Rs35 for last two days. According to market observers, this indicates Sansera Engineering shares stabilising in the grey market as finalisation of share allotment has been done. They said that Rs35 GMP against issue price of Rs734 to Rs744 per equity share indicates par listing of the public issue. Observers went on to add that 100 per cent OFS and higher valuation is posing challenge to the public issue. They went on to add that company's financials are quite strong and this is the reason that has helped engineering company to recover in the grey market after trading at a discount of rs 10 at one point of time. However, they gave some credit to the positive market sentiment as well.
What this GMP mean
Market observers said that grey market premium is an unofficial indication about the expected listing gain from a particular public issue. As Sansera Engineering IPO GMP today is Rs35, it simply means grey market is expecting listing of Sansera Engineering shares at Rs779 per equity share ( Rs744 Rs35) — around 5 per cent higher from the upper price band of the public offer.
Speaking on Sansera Engineering IPO; Abhay Doshi, Founder at UnlistedArena.com said, "In spite of being reasonably valued, Sansera Engineering IPO looks bit tepid due to certain reasons such as, overall growth seems to be muted, EV revolution too pose a challenge and auto sector is facing near term headwinds."
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