Avalon Technologies IPO: What GMP signals after announcement of share allotment | Mint – Mint

Avalon Technologies IPO: The initial public offering (IPO) of Avalon Technologies Ltd has announced allotment of shares and now lucky allottees and market observers are eagerly waiting for Avalon Technologies IPO listing date, which is most likely on 18th April 2023. Meanwhile, after retracing from double digit to single digit premium in grey market, shares of Avalon Technologies Ltd are now available at a premium of 10 in grey market today.

Avalon Technologies IPO GMP today

According to stock market observers, Avalon Technologies IPO GMP (grey market premium) today is 10, which is 5 higher from its yesterday’s GMP of 5 per share. Market observers maintained that rise in GMP can be attributed to the continuous rise in the Indian stock market as Sensex, Nifty and Bank Nifty have logged rise on eight days in a row. However, they maintained that due to cold response by investors, grey market remained negative towards the public issue as it got less than 100 per cent subscribed in all categories except QIBs.

What this GMP mean?

Market observers went on to add that Avalon Technologies IPO GMP today is 10, which means grey market is expecting that Avalon Technologies IPO listing price would be around 446 ( 436 + 10), which is at par with its price band of 415 to 436 per equity share. Market observers said that grey market is signaling that Avalon Technologies shares may have a par listing on share listing date.
However, stock market experts maintained that grey market sentiment shouldn’t be taken blindly as it is non-regulated and completely speculative. They advised investors to scan financials of the company as it reflects concrete fundamental picture of the company.
Avalon Technologies IPO got subscribed 2.34 times on strong response by QIB category investors. The retail portion of the public issue got subscribed 0.88 times whereas its QIB category got subscribed 3.77 times. The public issue got subscribed 0.43 times in NII segment.
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