As subscription of the issue is going to close today, grey market is also signaling about the IPO. According to market observers, shares of Medanta hospital operator Global Health Global Health is available at a premium of ₹16, which is ₹3 higher from its yesterday's grey market premium (GMP) of ₹13.
Global Health IPO GMP today
Market observers said that Global Health IPO GMP today is ₹16, which is ₹3 higher from its yesterday's GMP of ₹13. They said at par GMP of the public issue is because of the tepid response of the investors. They said that subscription levels in retail portion of the IPO is still under 100 per cent, which is one of the major reasons for tepid response by the grey market. They said that mmuch will depend upon the subscription status of the IPO after the close of stock market today as the IPO had opened when market sentiments were negative.
What this GMP means?
Market observers went on to add that Global Health IPO GMP today is ₹16, which means grey market is expecting that Global Health IPO listing would be around ₹352 ( ₹336 + ₹16), which is at par with the price band of the IPO at ₹319 to ₹336 per equity share. They said that grey market is signaling par listing of the public issue.
However, stock market experts maintained that grey market is not an ideal indicator about the listing premium of an IPO. They said that GMP numbers can be artificial as it involved even those who have high stake involved in it. They advised bidders to stick with the basic and suggested them to scan the balance sheet of the company as it would give a concrete fundamental picture of the IPO.
About Global Health
Global Health Ltd currently running four hospitals in Gurugram, Indore, Lucknow and Ranchi under the ‘Medanta’ brand. It is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India.
