dkishore
27-05-2008, 07:40 AM
The grey market that had been dormant in the recent past is witnessing some momentum. Albeit slowly, several IPOs are being traded once again in the unofficial market. Niraj Cement, which opened for subscription on Monday is trading at a premium of about Rs 15 on a price band of Rs 175-190. The issue gaining in the wake of a well-known bull operator holding some stake in the company. The IPO received bids of about 5.5 lakh shares of the total 32.5 lakh on offer, on day one.
Another IPO, Bafna Pharma, that opens on Tuesday has a grey market premium of Rs 12-15. If market talk is to be believed, this premium is expected to increase as the markets stabilises from these levels. Other than that, IPO like Gokul Refoil, which has closed for subscription is trading at a premium of about Rs 10-12 at a price of Rs 195. Sources maintain that despite withdrawal option offered to investors, Anu’s Lab is trading at a premium of Rs 30
Another IPO, Bafna Pharma, that opens on Tuesday has a grey market premium of Rs 12-15. If market talk is to be believed, this premium is expected to increase as the markets stabilises from these levels. Other than that, IPO like Gokul Refoil, which has closed for subscription is trading at a premium of about Rs 10-12 at a price of Rs 195. Sources maintain that despite withdrawal option offered to investors, Anu’s Lab is trading at a premium of Rs 30