Chemplast Sanmar IPO: After getting subscribed 18 per cent after bidding of day one, the public issue is expecting some fresh momentum min its subscription rate while grey market has already started signaling about the expected premium one can expect from this initial offer. Chemplast Sanmar IPO GMP today is ₹28 and market observers are expecting further growth in the grey market premium as there are two full days left for its bidding. Market experts have also given 'subscribe' tag to this public issue.
Here we list out important details in regard to Chemplast Sanmar IPO:
- Chemplast Sanmar IPO GMP
Shares of Chemplast Sanmar are trading at a premium of ₹28 in the grey market. According to market observers, Chemplast Sanmar IPO grey market premium is expected to go northward as there are still two days left for its biding. However, observers also maintained that its highly risky initial offer as 66 per cent of the money raised through this public issue will go into the pockets of company promoters. Means only 34 per cent of the money raised through public offer will go to the company.
- Chemplast Sanmar IPO subscription status
After first day of bidding, the public issue has been subscribed 18 per cent or 0.18 times. This public issue will remain open for bidding till 12th August 2021.
- Expert opinion
Speaking on Chemplast Sanmar IPO; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the FY-21 adjusted EPS of ₹25.95 on the post-issue basis, the company is going to list at a P/E of 20.85 with a market cap of ₹85,537 mn, while its peers namely PI Industries and SRF are trading at a P/E of 61.16 and 37.26 respectively. We assign a subscribe (With Caution) rating to this IPO as the company is well-positioned to capture favourable industry dynamics. However, the negative net asset value along with higher trade payable days keeps us cautious from a longer-term perspective.
- Chemplast Sanmar IPO price band
Price band of the public issue has been fixed at ₹530 to ₹541 per equity share.
- Chemplast Sanmar IPO allotment date
Tentative date for Chemplast Sanmar IPO allotment date is 18th August 2021.
- Chemplast Sanmar IPO listing date
Tentative date for Chemplast Sanmar IPO listing date at Indian bourses is 24th August 2021. Shares of Chemplast Sanmar will be listed at both NSE and BSE.
