Sansera Engineering IPO: After closure of bidding, the initial public offering (IPO) of Sansera Engineering got subscribed 11.47 times. ₹1,282.98 crore public issue got subscribed 3.15 times in the retail category, 26.47 times in QIB category and 11.37 times in NII category. Meanwhile, it seems that bidders strong response to the public issue on last date of bidding has been noticed by the grey market. Sansera Engineering IPO GMP (grey market premium) has jumped today after falling from ₹80 levels to ₹10 in just three days.
Sansera Engineering IPO GMP
According to market observers, Sansera Engineering IPO GMP today is ₹18, which is ₹8 higher from its yesterday's grey market premium of ₹10. Observers went on to add that shares of Sansera Engineering became available for trade in the grey market at ₹50 premium. Sansera Engineering IPO grey market premium went on to surge up to ₹80 just one day ahead of the subscription opening date.
However, on the opening date, Sansera Engineering IPO GMP tanked and hit ₹15. As per the market observers, 100 per cent OFS (Offer for Sale) could be a possible reason for tepid response by investors to the public issue.
What this GMP mean
As per the market observers, grey market premium is an unofficial estimation by the grey market in regard to listing premium of the public issue. As Sansera Engineering IPO GMP today is ₹18, it means grey market is expecting listing of Sansera Engineering shares at around ₹762 ( ₹744 + ₹18) — reflecting par listing of the public issue against its issue price of ₹734 to ₹744 per equity share.
Speaking on the reason for tepid response to the public issue by investors; Abhay Doshi, Founder at UnlistedArena.com said, "In spite of being reasonably valued, the IPO looks bit lack-luster owing to certain reasons such as, overall growth seems to be muted, EV revolution too pose a challenge and auto sector is facing near term headwinds, which may make investors conservative. However, it would be interesting to watch for the final subscription figures, which could be one of the indicator determining short term sentiments."
