Mono Pharmacare IPO: What GMP, subscription status signals about NSE SME issue | Mint – Mint

Mono Pharmacare IPO: The initial public offering (IPO) of Mono Pharmacare Limited opened for subscription on 28th August 2023 and it will remain open for bidding till 30th August 2023. After near two days of subscription opening, the NSE SNE issue has received strong response by investors as the issue has been over subscribed during second day of bidding. After strong response by investors, the public issue has appeared in unlisted stock market as well. According to market observers, Mono Pharmacare shares are available at a premium of 2 in grey market today.

Mono Pharmacare IPO GMP today

As per the market observers, Mono Pharmacare IPO grey market premium (GMP) today is 2. They said that grey market was neutral on the issue on Monday but after the trend reversal on Dalal Street, grey market turned to the NSE SME IPO and its shares started trading on Tuesday. They said that grey market mood may further improve if the positive sentiments on Dalal Street continues.

Click here for more details on Mono Pharmacare IPO

Market observers said that Mono Pharmacare IPO GMP today is 2, which means grey market is expecting that Mono Pharmacare IPO listing price would be around 30 ( 28 + 2), which is around 7 per cent higher from its price band of 26 to 28 per equity share. They said that grey market is signaling positive debut of shares on listing date as the book build issue has received strong response in two days of bidding.

Mono Pharmacare IPO subscription status

In near two days of bidding the public issue has been oversubscribed after strong response by retail investors. On day two of bidding, the public issue has been subscribed 4.09 times whereas its retail portion has been subscribed 8.32 times.

Important Mono Pharmacare IPO details

Mono Pharmacare IPO price band has been fixed at 26 to 28 per equity share. Mono Pharmacare IPO allotment date is most likely on 4th September whereas tentative Mono Pharmacare IPO listing date is 7th September 2023. The public issue opened for bidding on 28th August and it will close on 30th August 2023. The public issue is proposed for listing on NSE SME exchange.
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