Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The initial public offering (IPO) market is abuzz with activity, and two companies that are set to make their debut on the bourses next week are Wakefit and Corona Remedies. The unlisted shares of these companies were trading at a premium of up to 18% in the grey market on Wednesday, ahead of their IPOs. This surge in premium is a clear indication of the strong demand for these stocks among investors.
Home and furnishings startup Wakefit has set a price band of ₹185-195 per share for its ₹1,289 crore IPO. The company’s IPO is expected to open on December 7 and close on December 11. The issue comprises a fresh issue of ₹315 crore and an offer for sale of ₹974 crore by existing shareholders. Wakefit’s IPO is expected to be a highly subscribed issue, given the strong growth prospects of the company.
On the other hand, pharma firm Corona Remedies’ IPO is worth ₹655.37 crore. The company’s IPO is also expected to open on December 7 and close on December 11. The issue comprises a fresh issue of ₹200 crore and an offer for sale of ₹455.37 crore by existing shareholders. Corona Remedies’ IPO is also expected to be a highly subscribed issue, given the strong demand for pharma stocks in the market.
The grey market premium (GMP) is the premium at which the unlisted shares of a company are trading in the grey market, ahead of its IPO. The GMP is a key indicator of the demand for a stock, and a high GMP is often seen as a positive sign for the company’s IPO. In the case of Wakefit and Corona Remedies, the GMP has jumped up to 18% ahead of their IPOs, indicating strong demand for these stocks among investors.
The strong demand for Wakefit and Corona Remedies’ IPOs can be attributed to the strong growth prospects of these companies. Wakefit is a leading player in the home and furnishings market, and the company has seen strong growth in recent years. Corona Remedies, on the other hand, is a leading player in the pharma industry, and the company has a strong portfolio of products.
The IPO market has been quite active in recent months, with several companies making their debut on the bourses. The strong demand for IPOs can be attributed to the strong performance of the stock market, which has been driven by the strong economic growth and the ease of doing business in the country.
The IPOs of Wakefit and Corona Remedies are expected to be highly subscribed issues, given the strong demand for these stocks among investors. The strong GMP of these stocks is a clear indication of the demand for these stocks, and investors are likely to bid aggressively for these stocks when the IPOs open next week.
In conclusion, the unlisted shares of Wakefit and Corona Remedies were trading at a premium of up to 18% in the grey market on Wednesday, ahead of their IPOs next week. The strong demand for these stocks among investors is a clear indication of the strong growth prospects of these companies, and the IPOs are expected to be highly subscribed issues. Investors are likely to bid aggressively for these stocks when the IPOs open next week, and the strong GMP is a positive sign for the company’s IPO.
About the Companies
Wakefit is a leading player in the home and furnishings market, and the company has seen strong growth in recent years. The company offers a wide range of products, including mattresses, sofas, and dining tables. Wakefit has a strong online presence, and the company has been able to leverage its online platform to reach a wide range of customers.
Corona Remedies, on the other hand, is a leading player in the pharma industry, and the company has a strong portfolio of products. The company offers a wide range of products, including tablets, capsules, and injectables. Corona Remedies has a strong presence in the domestic market, and the company has been able to leverage its strong distribution network to reach a wide range of customers.
IPO Details
Wakefit’s IPO is expected to open on December 7 and close on December 11. The issue comprises a fresh issue of ₹315 crore and an offer for sale of ₹974 crore by existing shareholders. The price band for the IPO has been set at ₹185-195 per share.
Corona Remedies’ IPO is also expected to open on December 7 and close on December 11. The issue comprises a fresh issue of ₹200 crore and an offer for sale of ₹455.37 crore by existing shareholders. The price band for the IPO has been set at ₹620-650 per share.
Investment Advice
Investors who are looking to invest in the IPOs of Wakefit and Corona Remedies should do their own research and analysis before making a decision. The strong demand for these stocks among investors is a clear indication of the strong growth prospects of these companies, and the IPOs are expected to be highly subscribed issues.
However, investors should also be aware of the risks associated with investing in IPOs. The IPO market can be volatile, and there is always a risk that the stock may not perform well after listing. Investors should therefore do their own research and analysis before making a decision, and should consult with a financial advisor if necessary.
In conclusion, the unlisted shares of Wakefit and Corona Remedies were trading at a premium of up to 18% in the grey market on Wednesday, ahead of their IPOs next week. The strong demand for these stocks among investors is a clear indication of the strong growth prospects of these companies, and the IPOs are expected to be highly subscribed issues. Investors who are looking to invest in these IPOs should do their own research and analysis before making a decision, and should consult with a financial advisor if necessary.
About the Author
