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Prudent Corporate IPO: What GMP signals as subscription ends today

By Asit Manohar
Prudent Corporate IPO GMP today is ₹25, which means grey market is expecting that Prudent Corporate IPO listing may take place around ₹655, believe market observers. (PTI)

Prudent Corporate IPO GMP today

Market observers said that Prudent Corporate IPO GMP today is 25, which is 5 lower from its yesterday's evening grey market premium of 30. They said that Prudent Corporate IPO grey market price has tumbled due to negative secondary market sentiment. They said that Prudent Corporate share price has fallen from a premium of 40 to 25 in just two days. They said that yesterday morning, Prudent Corporate IPO GMP had shown some sign of recovery when it surged from 30 to 35 but finally it failed to sustain that gain after sell-off trigger in secondary market.

What this Prudent Corporate IPO GMP mean?

market observers said that Prudent Corporate IPO GMP today is 25, which means grey market is expecting that Prudent Corporate IPO listing may take place around 655 ( 630 + 25), which is almost at par with Prudent Corporate IPO price band of 595 to 630 per equity share.

So, on last date of bidding, grey market is trying to indicate that signal that Prudent Corporate IPO may have a moderate to par listing.

However, stock market experts said that grey market premium is an unofficial date, which is completely non-regulated. It has no link with the financials of the company. So, a bidder need not to take GMP that much seriously. They said that it's balance sheet of the company that gives ideal picture of the company's financial health. They asked investors to look at the balance sheet of Prudent Corporate Ltd and then only decide about the investment in upcoming public issue.

Advising investors to subscribe for long term, Shruti Khandare, CMO at MyFundBazaar India said, "Prudent Corporate IPO provides retail wealth management services pan India with a strong revenue growth in the last 3-9 months, margins having improved from 9.3% to 17.5%. Furthermore, the IPO has diversified their portfolio into MF distributors', business, insurance services & stock broking services. High-risk investors can invest in this IPO from a medium to long term perspective. The investor may or may not get listing gains considering the bearish market at the moment."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Dive Deeper:
Prudent Corporate IPO: Latest GMP, subscription status you should know
Prudent Corporate IPO GMP today is ₹3, which is ₹9 lower from its yesterday's grey market premium of ₹12, say…
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…
Venus Pipes IPO: What GMP signals on last day of subscription
Venus Pipes IPO is of 50,74,100 equity shares and has a price range of ₹310-326 per share
LIC IPO: What GMP (grey market premium) signals as subscription ends today
LIC IPO GMP today is ₹36, which is ₹24 lower from its yesterday's grey market premium (GMP) of ₹60, say…
One subscription that gives you access to news from hundreds of sites
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LIC IPO GMP today is minus ₹25, which means LIC IPO grey market price has remained almost steady for last…
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