Car Trade vs Nuvoco Vistas IPOs: After bidding for four initial public offerings (IPOs) ended yesterday, two more public issues — Car Trade and Nuvuco Vistas — are going to open for subscription on 9th August 2021. These public issues will remain open for bidding till 11th August 2021. While Car Trade promoters are aiming to raise ₹2,998.51 crore from this public issue, Novoco Vistas promoters are aiming to raise ₹5,000 crore from their initial offer. As we are just two days away when bidding for these public issues will open grey market has also started signaling about its mood in regard to Car Trade IPO and Nuvoco Vistas IPO.
Here we list out important details in regard to Car Trade and Nuvoco Vistas IPOs:
- Grey market premium
Car Trade IPO GMP today is ₹450 — ₹25 up from its Friday grey market premium. This means Car Trade Tech shares are available in the grey market at more than 25 per cent premium. In other words, grey market is expecting more than 25 per cent listing gain from this IPO.
Nuvoco Vistas IPO GMP today is ₹40 — ₹2 up from its Friday grey market premium. This means the listing gain expected by the grey market from this IPO is around 7 per cent.
- IPOs price band
Car Trade Tech management has fixed car Trade IPO price at ₹1585 to ₹1618 per equity share. A bidder will have to apply in lots and one lot will comprise of 9 equity share of the company. A single bidder can apply for minimum one lot and maximum 13 lots.
Nuvoco Vistas promoters have fixed price band of the public issue at ₹560 to ₹570. A bidder will be able to apply for the IPO in lots and one lot of the IPO will comprise 26 shares of the company. A single bidder can apply for minimum one lot and maximum 13 lots.
- Investment limit
As mentioned above, a single bidder can apply for minimum one lot and maximum 13 lots. This means Car Trade IPO bidders are allowed to invest minimum ₹14,562 ( ₹1618 x 9) and maximum ₹1,89,306 [( ₹1618 x 9) x 13].
- Experts verdict
Market observers are of the opinion that one can subscribe both the IPOs for reasonable listing gains. They said that Car Trade IPO is highly priced while Nuvoco Vistas has backing of big brand Nirma.
Speaking on Car Trade IPO; Abhay Doshi, Founder at UnlistedArena.com said, "The (Car Trade) issue looks expensively priced but being a niche company and frenzy for startup IPOs, it may accelerate in short term due to first mover advantage."
- Share allotment and listing
Both public issues are expected to finalise share allotment on 17th August 2021. Both public issues are likely to get listed at NSE and BSE on 23rd August 2021.
