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Prudent Corporate IPO: Latest GMP, subscription status you should know

By Asit Manohar
Prudent Corporate IPO GMP today is ₹3, which means grey market is expecting that Prudent Corporate IPO listing may happen around ₹633, believe market observers. (iStock)

Prudent Corporate IPO GMP today

Market observers said that Prudent Corporate IPO GMP today is 3, which is 9 lower from its yesterday's grey market premium of 12. They said that after its debut in grey market at 40 GMP, Prudent Corporate IPO GMP has been continuously nosediving and in last four days, it has dipped from 40 to 3, which is mainly due to the negative sentiments in global equity markets including Dalal Street. They said that tepid response to the public issue by investors further damaged grey market sentiments in regard to the Prudent Corporate IPO.

What this Prudent Corporate IPO GMP mean?

Market observer said that Prudent Corporate IPO GMP today is 3, which means grey market is expecting that Prudent Corporate IPO listing may happen around 633 ( 630 + 3), which is at par with its price band of 595 to 630 per equity share. They went on to add that grey market is trying to indicate that Prudent Corporate IPO may have a par listing if secondary market sentiment continues to remain negative.

However, stock market experts said that GMP is not an ideal indicator about success of failure of an IPO. They said that grey market premium is an unofficial data, which is non-regulated as well. So, one should look at the balance sheet of the company instead of grey market sentiments as financials of the company gives better and concrete picture of the company.

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Dive Deeper:
Prudent Corporate IPO: Latest GMP, subscription status that you should know
Prudent Corporate IPO GMP today is ₹35, which is ₹5 higher from its yesterday's grey market premium of ₹30, say…
Prudent Corporate IPO: What GMP signals as subscription ends today
Prudent Corporate IPO GMP today is ₹25, which is ₹5 lower from its yesterday's evening grey market premium of ₹30,…
Delhivery IPO: GMP, subscription status, other details. Should you subscribe or skip?
The size of the Delhivery IPO has been cut to ₹5,235 crore from ₹7,460 crore planned earlier
LIC GMP turns negative, shares may list at a discount
LIC IPO GMP today is minus ₹26, which is ₹18 lower from its yesterday's grey market premium of minus ₹8,…
One subscription that gives you access to news from hundreds of sites
LIC shares may have a discounted debut, signals grey market premium (GMP)
LIC IPO GMP today is minus ₹25, which means LIC IPO grey market price has remained almost steady for last…
Venus Pipes IPO: What GMP reflects as focus shifts towards allotment date
Venus Pipes IPO GMP today is ₹22, which is ₹8 lower from its yesterday's grey market premium of ₹30, say…
Get all your news in one place