Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The Indian market is abuzz with excitement as two highly anticipated Initial Public Offerings (IPOs) are set to hit the market next week. Home and furnishings startup Wakefit and pharma firm Corona Remedies have been making headlines with their upcoming IPOs, and the grey market is reflecting the enthusiasm. On Wednesday, unlisted shares of Wakefit and Corona Remedies were trading at a premium of up to 18% in the grey market, indicating a strong demand for these stocks.
Wakefit, which has set a price band of ₹185-195 per share for its ₹1,289 crore IPO, has been gaining significant attention from investors. The company’s decision to go public comes at a time when the home furnishings market is witnessing a significant surge in demand. With its strong brand presence and expanding product portfolio, Wakefit is well-positioned to capitalize on this trend. The company’s IPO, which is scheduled to open next week, is expected to be heavily subscribed, given the strong response from institutional and retail investors.
Similarly, Corona Remedies’ IPO, worth ₹655.37 crore, is also generating significant interest among investors. The pharma firm’s decision to raise funds through an IPO comes at a time when the pharmaceutical industry is witnessing a significant transformation. With the government’s focus on promoting domestic manufacturing and the increasing demand for healthcare services, Corona Remedies is well-positioned to benefit from these trends. The company’s IPO, which is also scheduled to open next week, is expected to be well-received by investors.
The grey market premium (GMP) is an indicator of the demand for a stock in the unofficial market. A high GMP indicates strong demand for the stock, while a low GMP suggests weak demand. In the case of Wakefit and Corona Remedies, the GMP of up to 18% suggests that investors are eager to get their hands on these stocks. This is not surprising, given the strong growth prospects of both companies.
The IPO market has been witnessing a significant surge in activity in recent times, with several companies raising funds through public issues. The success of these IPOs has been driven by the strong demand from institutional and retail investors, who are looking to invest in growth-oriented companies. The upcoming IPOs of Wakefit and Corona Remedies are expected to continue this trend, with both companies expected to raise significant funds through their public issues.
The pricing of the IPOs is also an important factor that will determine the success of these issues. Wakefit’s price band of ₹185-195 per share is considered to be reasonable, given the company’s strong financial performance and growth prospects. Similarly, Corona Remedies’ IPO price band is also expected to be attractive, given the company’s strong presence in the pharmaceutical industry.
In conclusion, the upcoming IPOs of Wakefit and Corona Remedies are generating significant interest among investors. The grey market premium of up to 18% suggests that investors are eager to get their hands on these stocks, and the strong demand is expected to continue in the coming days. With their strong growth prospects and attractive pricing, both Wakefit and Corona Remedies are well-positioned to make a successful debut in the public market.
As the IPO market continues to evolve, it will be interesting to see how these issues perform in the long term. One thing is certain, however – the Indian market is hungry for growth-oriented companies, and Wakefit and Corona Remedies are well-positioned to capitalize on this trend.
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