Baheti Recycling IPO GMP today
Meanwhile, grey market sentiment in regard to Baheti Recycling IPO has further improved. According to market observers, shares of Baheti Recycling Industries Ltd are available at a premium of ₹40 in grey market today. This means, Baheti Recycling IPO grey market premium (GMP) today is ₹40, which is ₹4 higher from its yesterday's GMP of ₹36. So, grey market sentiment has gone further bullish in regard to Baheti Recycling IPO. They said that major reason for grey market going bullish on this NSE SME public issue is strong response being given by the investors. Apart from this, global sentiments are also supportive for the public issue as Dalal Street has outperformed other global bourses.
What this GMP means?
Market observers said that Baheti Recycling IPO GMP today is ₹40, which means grey market is expecting that the public issue may list around ₹85, near 85 per cent higher from its price band of ₹45 per equity share. This means, grey market is signaling strong debut of Baheti Recycling Industries Ltd shares on Dalal Street.
Baheti Recycling IPO subscription status, other details
However, stock market experts maintained that GMP should not be taken that much seriously because it has no connection with the company's fundamentals. They advised bidders to stick with their conviction they have developed after scanning the balance sheet of the company before applying for the SME IPO proposed for listing on NSE SME exchange. The public issue worth ₹12.42 crore got subscribed a whopping 347.53 times with its retail portion seeing a strong 435.65 times subscription and non institutional investors (NIIs) bid 259.21 times.
