Venus Pipes IPO: What GMP indicates after finalisation of share allotment

Market


Venus Pipes IPO: After finalisation of share allotment, allottees and market observers are busy finding cue for possible premium from the public issue. While the listing gain would become officially public on 24th May 2022 after Venus Pipes IPO listing, grey market has started signaling about the possible listing gain one can expect from the public offer. According to market observers, share of Venus Pipes are available at a premium of 28 in grey market today.

Venus Pipes IPO GMP today

Market observers said that Venus Pipes IPO grey market premium (GMP) today is 28, which is 17 lower from its Thursday evening grey market premium of 45. They said that following the topsy-turvy secondary markets, grey market had become highly volatile in regard to Venus Pipes IPO on Thursday. However, they maintained that Venus Pipes IPO GMP has remained around 25 to 30 for last few sessions that indicates that any change in the grey market mood can be expected only when there is fresh upside breakout or any further breakdown in key benchmark indices.

What this GMP mean?

Market observers said that Venus Pipes IPO GMP today is 28, which means grey market is expecting that Venus Pipes IPO listing may happen around 354 ( 326 + 28), which is around 8.50 per cent higher from its price band of 310 to 326 per equity share.

So, despite negative sentiments at secondary market, grey market is giving s Pipes shares may have a positive debut on Dalal Street.

However, stock market experts maintained that GMP should not be taken much seriously as it has nothing to do with the financials of the company and it is an unofficial data as well.

Speaking on Venus Pipes IPO, Shruti Khandare, CMO, MyFundBazaar India said, “Being the exporter of Steel Pipes & Tubes across the country, Venus IPO generated good revenue growth in the past and its margins are improving YoY. Since markets are tilting towards the bearish mode, allottees are advised to hold the stock for medium to long term.”

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

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