Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The Indian initial public offering (IPO) market is abuzz with activity, and two companies that are making headlines are Wakefit and Corona Remedies. Both companies are set to launch their IPOs next week, and the grey market is already showing a significant premium for their unlisted shares. According to market sources, the grey market premium (GMP) for Wakefit and Corona Remedies’ shares has jumped up to 18% ahead of their IPOs.
Home and furnishings startup Wakefit has set a price band of ₹185-195 per share for its ₹1,289 crore IPO. The company’s shares were trading at a premium of ₹25-30 in the grey market, which translates to a GMP of around 13-15%. However, some market sources indicated that the premium could be as high as ₹35, which would put the GMP at around 18%. This suggests that investors are bullish about the company’s prospects and are willing to pay a premium to get their hands on the shares before they list on the stock exchanges.
Pharma firm Corona Remedies’ IPO is worth ₹655.37 crore, and the company’s shares were also trading at a premium in the grey market. The GMP for Corona Remedies’ shares was around 10-12%, with some sources indicating that it could be as high as 15%. The premium for Corona Remedies’ shares is lower compared to Wakefit, but it still indicates a strong demand for the company’s shares.
The grey market premium is an unofficial market where unlisted shares are traded before they are listed on the stock exchanges. The premium is a reflection of the demand for the shares, and it can give an indication of how the shares will perform when they list on the exchanges. A high GMP can indicate a strong demand for the shares, which can lead to a strong listing and a potential upside for investors.
Wakefit’s IPO is one of the most highly anticipated IPOs of the year, and the company’s strong brand and financial performance have generated a lot of interest among investors. The company has reported strong revenue growth in recent years, and its profitability has also improved significantly. Wakefit’s financial performance, combined with its strong brand and growth prospects, has made it a attractive investment opportunity for investors.
Corona Remedies, on the other hand, is a pharma company that has a strong presence in the Indian market. The company has a diverse product portfolio and a strong distribution network, which has helped it to establish a strong foothold in the market. Corona Remedies’ IPO is also expected to generate a lot of interest among investors, given the company’s strong financial performance and growth prospects.
The IPO market in India has been on a roll in recent years, with many companies raising funds through IPOs. The market has been driven by a strong demand for shares, and many IPOs have listed at a premium to their issue price. The success of recent IPOs has also encouraged more companies to come to the market, which has led to a surge in IPO activity.
In conclusion, the grey market premium for Wakefit and Corona Remedies’ shares has jumped up to 18% ahead of their IPOs, indicating a strong demand for the shares. Both companies have strong financial performance and growth prospects, which has generated a lot of interest among investors. The IPO market in India is expected to remain active in the coming months, with many companies lined up to raise funds through IPOs. Investors who are looking to invest in these IPOs should do their own research and make informed investment decisions.
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