DCX IPO GMP today
Market observers said that DCX IPO GMP today is ₹90, which is ₹8 higher from its Tuesday's GMP of ₹82 per share. They said that due to trend reversal on Dalal Street, DCX IPO GMP has risen from around ₹55 to ₹90 within three days that reflects the grey market mood in current bullish stock market sentiments. They went on to add that DCX IPO GMP had slipped from three digit figure to ₹55 levels and expected the GMP to regain ₹100 mark if the bullish trend in secondary market continues. However, they said that bidders can expected strong premium from the public issue on its listing date, which is most likely on 11th November 2022.
What this GMP means?
Market observers said that DCX IPO GMP today is ₹90, which means grey market is expecting that its DCX Systems share listing would take place around ₹297 ( ₹207 + ₹90), which is around 43 per cent higher from DCX IPO price band of ₹197 to ₹207 per equity share. So, grey market is signaling strong listing premium on share listing date.
However, stock market experts maintained that GMP is not an ideal signal for ascertaining listing premium from an IPO. They said that GMP is a non-regulated speculative figure that has no connect with the balance sheet of the company. They said that it is financials of the company that give concrete fundamental picture for long term and one should go through these fundamentals instead of such non-regulated GMP numbers.
In three days subscription from 31st October to 2nd November, DCX Systems IPO was subscribed to 69.79 times whereas its retail portion got subscribed 61.77 times. It was subscribed 84.32 times in QIB category while its subscription status in NII category stands at 43.97 times.
