Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The unlisted shares of Wakefit and Corona Remedies have been making waves in the grey market, with their prices surging up to 18% ahead of their initial public offerings (IPOs) scheduled to open next week. This significant premium is a testament to the strong investor interest in these companies, which are set to raise a substantial amount of capital through their public listings.
Home and furnishings startup Wakefit has set a price band of ₹185-195 per share for its ₹1,289 crore IPO, which is expected to be a major draw for investors. The company’s decision to go public is seen as a strategic move to expand its operations and increase its market share in the highly competitive home furnishings industry. With a strong brand presence and a growing customer base, Wakefit is well-positioned to capitalize on the increasing demand for home improvement products.
On the other hand, pharma firm Corona Remedies’ IPO is worth ₹655.37 crore, which is a significant amount considering the company’s size and operations. The company’s decision to go public is seen as a move to raise capital for its expansion plans and to increase its visibility in the market. With a diverse product portfolio and a strong distribution network, Corona Remedies is well-placed to capitalize on the growing demand for pharmaceutical products.
The grey market premium (GMP) is a key indicator of investor interest in a company’s IPO. A high GMP indicates that investors are willing to pay a premium for the shares, which is a positive sign for the company. In the case of Wakefit and Corona Remedies, the GMP has jumped up to 18%, which is a significant increase. This suggests that investors are confident about the growth prospects of these companies and are willing to pay a premium for their shares.
The IPO market has been witnessing a surge in activity in recent times, with several companies lined up to go public in the coming weeks. The success of these IPOs will depend on various factors, including the company’s financial performance, industry trends, and investor sentiment. However, with the GMP of Wakefit and Corona Remedies surging up to 18%, it is clear that investors are bullish about these companies and are expecting strong returns from their investments.
The pricing of the IPOs will be crucial in determining the success of the issues. Wakefit’s price band of ₹185-195 per share is seen as reasonable, considering the company’s financial performance and growth prospects. Similarly, Corona Remedies’ IPO price is expected to be attractive, given the company’s strong product portfolio and distribution network.
The IPOs of Wakefit and Corona Remedies are expected to open next week, and investors are eagerly waiting to participate in these issues. With the GMP surging up to 18%, it is clear that investors are confident about the growth prospects of these companies. However, it is essential to note that the IPO market is highly volatile, and investors should do their own research before investing in these companies.
In conclusion, the unlisted shares of Wakefit and Corona Remedies have been trading at a premium of up to 18% in the grey market, ahead of their IPOs next week. This significant premium is a testament to the strong investor interest in these companies, which are set to raise a substantial amount of capital through their public listings. With the IPO market witnessing a surge in activity, it will be interesting to see how these issues perform and whether they will be able to deliver strong returns to investors.
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