April 23, 2024

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What GMP reflects ahead of share listing date

Go Fashion IPO listing date: Shares of Go Fashion is going to list on 30th November 2021 and lucky bidders are buy guessing about the listing gain from the public issue worth 1,013.61 crore. For such bidders, there is a piece of good news from the grey market. Shares of Go Fashion are available at a premium of 500 in the grey market today. Market observers believe that such grey market premium (GMP) reflects strong listing gain from the public issue, which is priced at 655 to 690 per equity share.

Go Fashion IPO GMP

According to market observers, Go Fashion IPO GMP today is 500, which is unchanged from its yesterday’s GMP. So, despite negative sentiment in the primary market, Go Fashion IPO GMP has remained steady that reflects strong listing of the public issue. Market observers went on to add that despite stock market crash on Friday, Go Fashion shares have remained steady in grey market that means lucky bidders can expect high return from their investment on the listing date.

What this GMP mean?

Market observers went on to add that GMP is nothing but expected listing gain from the public issue by the grey market. As Go Fashion IPO GMP today is 500, it means grey market is expecting Go Fashion share listing at around 1190 ( 690 + 500), which is around 70 per cent higher from its price band of 655 to 690 per equity share.

However, stock market experts are of the opinion that grey market gives an unofficial data that has nothing to do with the fundamentals of the company. They advised bidders to stick with the balance sheet of the company and find out the exact financial condition of the company.

Expecting good response on Go Fashion share listing date; Ravi Singh, Head of Research & Vice President at ShareIndia said, “In the current market scenario, most of the IPO’s are expected to perform well. We expect Go Fashion IPO to also receive a good response during listing. The boost in textile sector will also help Go Fashion in longer term. However, we advise the investors to book the premium at the time of listing.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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