Nexus Select Trust IPO: What GMP signals as all eye set on listing date? | Mint – Mint

Nexus Select Trust IPO: After allotment of shares, allottees and market observers are eagerly waiting for the Nexus Select Trust IPO listing date, which is most likely on 19th May 2023 i.e. on Friday this week. Both market observers and lucky allottees are under pressure as Indian stock market has remained under sell off heat in last two previous session and its impact is visible in grey market as shares of Nexus Select Trust REIT are not available at a premium of 3 instead of 5 on Tuesday. So, in last two days, Nexus Select Trust IPO grey market premium (GMP) has slipped from 5 to 3.

Nexus Select Trust IPO GMP today

According to market observers, Nexus Select Trust IPO GMP today is 3, which is 2 lower from its Tuesday’s GMP of 5. Market observers said that secondary market sentiments have remained weak for the last two days and due to this grey market sentiment in regard to Nexus Select Trust IPO went down and Nexus Select Trust IPO GMP slipped from 5 to 3. They said that Nexus Select Trust IPO listing date is most likely on 19th May 2023 and hence much will depend on secondary market sentiments.

What this GMP mean?

Market observers maintained that Nexus Select Trust IPO GMP today is 3, which means grey market is expecting that Nexus Select Trust IPO listing price would be around 103 ( 100 + 3), which is 3 per cent higher from Nexus Select Trust IPO price band of 95 to 100 per equity share. This means, Nexus Select Trust IPO listing gain would be around 3 per cent. They said that despite weakness in Indian stock market trends, grey market is signaling that Nexus Select Trust IPO may have a par listing even when the secondary market sentiments are bearish.
However, stock market experts advised both allottees and market observers to rely on the financials of the company instead of grey market premium. They said that GMP is non regulated and it is completely speculative. It involves even those who have high stake involved in the public offer. Hence, sometimes it can be artificial as well. They advised allottees to stick with their conviction developed after scanning the financials or balance sheet of the company.
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