IPO was absolutely subscribed in simply 20 minutes, indicating 70% revenue from grey market, must you make investments? – INA NEWS

Commonplace Glass Lining IPO: The preliminary public providing (IPO) of Commonplace Glass Lining Know-how was absolutely subscribed inside simply 20 minutes of opening for bidding on Monday, January 6. In response to the info accessible on NSE until 11 am, this IPO has obtained 2.85 instances extra bids to date. The corporate has put a complete of two.08 crore shares on the market beneath its IPO, in opposition to which buyers have to date positioned bids for five.94 crore shares.

The corporate has to date obtained 3.97 instances extra bids within the quota of retail buyers. Whereas non-institutional buyers have to date subscribed this IPO 3.92 instances extra.

Commonplace Glass Lining IPO: Worth band Rs 133 to Rs 140 per share

The corporate mentioned that it’ll use Rs 130 crore of the cash raised by the contemporary situation to repay the debt. It’ll additionally make investments Rs 30 crore in its wholly owned subsidiary, S2 Engineering Industries.

Commonplace Glass Lining IPO GMP: Grey market premium jumps as much as 70%

In response to consultants monitoring the unlisted market, shares of Commonplace Glass Lining Know-how have been presently buying and selling at a grey market premium (GMP) of round 70 p.c. He mentioned the corporate’s shares have been buying and selling at a premium of Rs 97, which exhibits a list likelihood of about 69.28 p.c.

Commonplace Glass Lining IPO: Itemizing will happen on January 13

The allotment of shares of Requirements Glass Lining will happen on January 9, 2025. Its shares could also be listed on BSE and NSE on Monday, January 13.

Commonplace Glass Lining IPO: What ought to buyers do?

Geojit Monetary Companies has suggested to subscribe to this IPO. On the higher worth band of Rs 140, the corporate is accessible at a P/E of 38.5x (FY25 estimated earnings), which is an inexpensive valuation in comparison with its rivals, the brokerage mentioned. The growing demand for glass-lined tools in prescribed drugs and chemical compounds can play an essential position within the progress of this firm.

The brokerage mentioned that contemplating Commonplace Glass Lining Know-how’s good margins, constant income progress, product diversification and inorganic progress alternatives, it recommends subscribing to this inventory for medium to long run.

SBI Capital Securities has additionally suggested to subscribe to this IPO. “In contrast with its rivals, this IPO is priced at an inexpensive worth with higher margins. We suggest investing on this situation with a long-term perspective,” the brokerage mentioned.

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