Venus Pipes IPO: Following the closure of the three-day subscription to Venus Pipes & Tubes Limited’s public offering, all eyes are now on Venus Pipes’ IPO allotment date, which is likely to be May 19, 2022. The gray market has also become more sensitive to the public issue hosted ₹SEK 165.42 million. According to market observers, Venus Pipes quotes the share price at a premium of ₹22 on the gray market today.
Venus Pipes IPO GMP today
Market observers said that Venus Pipe’s IPO Gray Market Premium (GMP) today is ₹22, which is ₹8 lower from yesterday’s gray market premium on ₹30. They said that Venus Pipes IPO GMP has fallen for the second day in a row as it was at ₹35 on Thursday. Market observers said that Venus Pipe’s IPO GMP has fallen due to the weak sentiment in the secondary market as the NSE Nifty lost almost 4 percent in the past week.
What does this Venus Pipes IPO GMP mean?
Market observers said that Venus Pipes IPO GMP today is ₹22, which means that the gray market expects Venus Pipe’s IPO to take place around ₹348 ( ₹326+ ₹22), which is almost 7 percent higher than the price range of ₹310 more ₹326 per share.
But stock market experts said that GMP is not an ideal indicator of the success of the failure of an IPO. They said that the gray market premium is an unofficial data, which is also unregulated. So you should look at the company’s balance sheet instead of gray market sentiment because the company’s finances give a better and concrete picture of the company.