Archean Chemical IPO GMP today
Market observers said that Archean Chemical IPO GMP today is ₹100, which is ₹15 higher from its yesterday's GMP of ₹85. They said that rise in grey market sentiments in regard to Archean Chemical IPO can be attributed to change in Dalal Street sentiments and strong response by bidders. They said that grey market is already bullish on Archean Chemical IPO after strong response by investors. Now, positive sentiments on the Dalal Street has done icing on the cake. They expected further rise in grey market sentiments as share allotment date is fast approaching and market is expected to surge further on strong global cues.
What this GMP means?
Market observers went on to add that Archean Chemical IPO GMP today is ₹85, which means grey market is expecting that Archean Chemical IPO listing price would be around ₹507 ( ₹407 + ₹100), which is around 25 per cent higher from Archean Chemical IPO price band of ₹386 to ₹407 apiece. They said that grey market is expecting strong listing of Archean Chemical IPO.
However, stock market experts maintained that GMP should not be taken much seriously as it is completely speculative and has no connect with the financial of the company. They said that its balance sheet of the company that gives concrete fundamental picture of the company for long term whereas GMP keep on changing regularly.
Archean Chemical IPO details
After announcement of share allotment, bidders can check allotment status online by logging in at the BSE website — bseindia.com or on official website of the official registrar of the IPO. The official registrar of the IPO is Link Intime India Private Ltd and its official website is linkintime.co.in.
