On the closing day of subscription, the grey market top charge of MapMyIndia IPO suggests a solid checklist for the company on the stock exchanges. Right here is all you like got to know.
The solid response to the IPO signifies that the shares of the company will construct a bumper debut on the predominant markets.
The initial public providing (IPO) of MapMyIndia witnessed solid interest from shareholders from day 1 and was once headed for a solid closing on Monday. On the closing day of bidding, too, the company witnessed solid query from merchants.
As of 1 pm on the closing day, MapMyIndia IPO was once subscribed practically about 27 times, with solid response in all classes. The solid response to the overall public sigh signifies that the shares of the company will construct a bumper debut on the predominant markets.
Several brokerages like given thumbs up to the IPO of MapMyIndia, owned by CE Data Techniques, in step with the company’s future enlighten in all probability and winning industry model. The grey market top charge also signifies a unparalleled checklist for the company on the stock exchanges on December 21.
Be taught | MapMyIndia IPO: Would possibly maybe well seemingly also merely calm you subscribe?
Most up to date knowledge suggests that the MapmyIndia IPO GMP is Rs 1,020 or over 98 per cent to its sigh rate of Rs 1,039. This kind the stock will list at approximately Rs 2,050 if the GMP does no longer plunge.
It’s a ways going to also be famed that the GMP very most attention-grabbing affords a signal of how a company is anticipated to list on the stock exchanges. Then again, the GMP does indicate that the stock is in for a bumper checklist on the BSE and NSE.
MapMyIndia plot a cost band of Rs 1,000-1,039 per share for the IPO. The IPO is fully a suggestion for sale (OFS) of up to 10,063,945 equity shares by existing shareholders and promoter.
As mentioned earlier, various brokerages had given a ‘subscribe’ score to the IPO, which potential of the company’s solid financial place, winning industry model and solid money flows.
Brokerage Anand Rathi said in a veil that MapMyIndia is all plot to capitalize on the exponential enlighten different of being the market leader, along with that it also has an early mover advantage and a winning industry model with a consistent financial song file and solid money float.
Click here for IndiaToday.in’s entire coverage of the coronavirus pandemic.