Vijaya Diagnostic IPO GMP: After the share allotment, bidders are now waiting for the listing of Vijaya Diagnostic shares which are expected to list next week. The healthcare chain's stock market debut is likely to be on Tuesday, 14th September 2021. The initial public offer (IPO) of Vijaya Diagnostic Centre was subscribed 4.54 times on the closing day of the subscription.
As per the market observers, Vijaya Diagnostic shares have fallen further in the grey market today and are available at a discount of ₹15. Market observers said that tepid subscription, higher valuation and price band may go against the public issue. However, they believe that the company’s financials are sound.
Vijaya Diagnostic IPO grey market premium
As per the market observers, Vijaya Diagnostic IPO GMP today is minus ₹15, which is ₹5 lower from its yesterday's grey market premium of minus ₹10. They went on to add that Vijaya Diagnostic IPO grey market premium has been nosediving ever since it became available for trade in the grey market. It has come down from ₹40 to minus ₹15 (its lowest grey market premium) that reflects 'turned down' sentiment in regard to the Vijaya Diagnostic IPO.
What this GMP mean
On what this GMP mean for the Vijaya Diagnostic IPO, market observers said that GMP simply reflects listing premium expected by the grey market. As Vijaya Diagnostic IPO GMP today is minus ₹15, it means the grey market is expecting Vijaya Diagnostic IPO listing at around ₹516 ( ₹531 - ₹15). They went on to add that current GMP is an indication that the public issue may have par listing when it gets listed at BSE and NSE on 14th September 2021.
Speaking on the Vijaya Diagnostic IPO; Abhay Doshi, Founder at UnlistedArena.com said, "Vijaya Diagnostic has sound fundamentals and commendable growth pattern, but the issue looks priced at higher side compared to its peers. Its operations are concentrated in limited region. It may witness dull response due to valuations being on higher side."
