Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The initial public offering (IPO) market is abuzz with activity, and two upcoming IPOs have been making waves in the grey market. Unlisted shares of Wakefit and Corona Remedies were trading at a premium of up to 18% on Wednesday, ahead of their IPOs next week. This surge in demand for these shares is a clear indication of the market’s enthusiasm for these companies and their potential for growth.
Home and furnishings startup Wakefit has set a price band of ₹185-195 per share for its ₹1,289 crore IPO. The company’s decision to go public has generated significant interest among investors, and the grey market is reflecting this excitement. With a premium of up to 18% over the issue price, Wakefit’s unlisted shares are in high demand. This is not surprising, given the company’s impressive growth trajectory and its position in the burgeoning home furnishings market.
Pharma firm Corona Remedies’ IPO, worth ₹655.37 crore, is also generating significant interest in the grey market. The company’s shares are trading at a premium of up to 18% over the issue price, indicating a strong demand for its stock. Corona Remedies’ decision to go public comes at a time when the pharmaceutical industry is experiencing significant growth, driven by an increasing demand for healthcare services and products.
The grey market, also known as the unofficial market, is a platform where unlisted shares are traded before they are officially listed on the stock exchanges. The prices at which these shares are traded in the grey market are often seen as an indicator of the demand for the stock and the company’s potential for growth. In the case of Wakefit and Corona Remedies, the high premiums at which their shares are trading in the grey market suggest that investors are bullish about their prospects.
The success of these IPOs will depend on a variety of factors, including the company’s financial performance, industry trends, and the overall market sentiment. However, based on the current trends in the grey market, it appears that both Wakefit and Corona Remedies are poised for a strong debut on the stock exchanges.
Wakefit’s IPO, which opens next week, is expected to be a significant event in the IPO market. The company has already generated significant interest among investors, and its shares are likely to be in high demand. With a strong brand presence and a growing customer base, Wakefit is well-positioned to capitalize on the growing demand for home furnishings in India.
Corona Remedies’ IPO, on the other hand, is expected to be a major event in the pharmaceutical industry. The company’s decision to go public comes at a time when the industry is experiencing significant growth, driven by an increasing demand for healthcare services and products. With a strong product portfolio and a growing presence in the market, Corona Remedies is well-positioned to capitalize on this trend.
In conclusion, the surge in demand for Wakefit and Corona Remedies’ shares in the grey market is a clear indication of the market’s enthusiasm for these companies and their potential for growth. With their IPOs scheduled to open next week, investors are eagerly awaiting the opportunity to invest in these companies. Whether or not these IPOs will be successful remains to be seen, but one thing is certain – the market is excited about the prospects of these companies, and their shares are likely to be in high demand.
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