Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The Indian initial public offering (IPO) market is abuzz with activity, as two highly anticipated issues are set to open next week. Home and furnishings startup Wakefit and pharma firm Corona Remedies are gearing up to launch their respective IPOs, and the grey market is already reflecting the excitement. Unlisted shares of both companies were trading at a premium of up to 18% on Wednesday, indicating strong investor interest.
Wakefit, which has set a price band of ₹185-195 per share for its ₹1,289 crore IPO, is expected to be a highly sought-after issue. The company, which operates in the highly competitive home furnishings market, has managed to carve out a niche for itself with its innovative products and strong online presence. With a growing demand for home furnishings and decor, Wakefit’s IPO is likely to attract significant attention from investors.
Similarly, Corona Remedies’ IPO, which is worth ₹655.37 crore, is also expected to generate considerable interest. The pharma firm, which has a diverse portfolio of products, is looking to expand its operations and increase its market share. With the Indian pharma industry expected to grow significantly in the coming years, Corona Remedies’ IPO is likely to be a attractive proposition for investors.
The grey market premium (GMP) is a key indicator of investor interest in an IPO. It reflects the premium at which unlisted shares of a company are trading in the grey market, ahead of the IPO. A high GMP indicates strong demand for the issue, and is often seen as a positive sign for the company’s listing prospects.
In the case of Wakefit and Corona Remedies, the GMP has jumped up to 18%, indicating that investors are willing to pay a premium to get their hands on the shares. This is a positive sign for both companies, and suggests that their IPOs are likely to be heavily oversubscribed.
The IPO market has been on a roll in recent times, with several issues receiving strong investor response. The success of these IPOs has encouraged other companies to come to the market, and the pipeline of upcoming issues is looking robust.
For Wakefit and Corona Remedies, the next few days will be crucial. The companies will need to ensure that they are able to generate sufficient interest among investors, and that their IPOs are able to attract strong demand. If they are able to do so, it will be a positive sign for their listing prospects, and will set the stage for a successful debut on the bourses.
In conclusion, the grey market premium of Wakefit and Corona Remedies has jumped up to 18%, indicating strong investor interest in their upcoming IPOs. With the IPO market in a buoyant mood, both companies are likely to generate significant attention from investors. Whether they are able to sustain this interest and deliver a successful IPO remains to be seen, but for now, the signs are looking positive.
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