Wakefit, Corona Remedies’ GMPs jump up to 18% ahead of IPOs
The Indian stock market has been abuzz with excitement as two highly anticipated Initial Public Offerings (IPOs) are set to hit the market next week. Wakefit, a home and furnishings startup, and Corona Remedies, a pharmaceutical firm, have been making headlines with their upcoming IPOs. In the grey market, the unlisted shares of these companies have been trading at a premium of up to 18%, indicating a strong demand from investors.
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 IPO is expected to open on December 7 and close on December 11. With a strong brand presence and a growing market share, Wakefit’s IPO is expected to be a highly subscribed issue.
On the other hand, Corona Remedies’ IPO is worth ₹655.37 crore and is expected to open on December 6 and close on December 10. The company has fixed a price band of ₹60-65 per share for its IPO. Corona Remedies has been expanding its product portfolio and strengthening its distribution network, which is expected to drive growth in the coming years.
The grey market premium (GMP) is an indicator of the demand for a company’s shares before its IPO. A higher GMP indicates a stronger demand for the shares, which can lead to a higher listing price. In this case, the GMP of Wakefit and Corona Remedies has jumped up to 18%, indicating a strong demand from investors.
The strong demand for these IPOs can be attributed to the growing interest in the startup and pharmaceutical sectors. The Indian startup ecosystem has been thriving in recent years, with many companies achieving significant valuations and expanding their operations. Similarly, the pharmaceutical sector has been performing well, driven by the growing demand for healthcare services and products.
The IPO market has been active in recent months, with many companies raising funds through public issues. The success of these IPOs has been driven by the strong demand from investors, who are looking to invest in growth-oriented companies. The upcoming IPOs of Wakefit and Corona Remedies are expected to be highly subscribed, given the strong demand from investors.
Wakefit’s IPO is expected to be a landmark issue, as it will be one of the largest IPOs by a startup in the Indian market. The company has a strong brand presence and a growing market share, which is expected to drive growth in the coming years. Wakefit’s financial performance has been impressive, with the company reporting a significant increase in revenue and profitability in recent years.
Corona Remedies, on the other hand, has been expanding its product portfolio and strengthening its distribution network. The company has a strong presence in the pharmaceutical sector and is expected to benefit from the growing demand for healthcare services and products. Corona Remedies’ financial performance has been stable, with the company reporting a steady increase in revenue and profitability in recent years.
The success of these IPOs will depend on various factors, including the company’s financial performance, growth prospects, and industry trends. Investors should carefully evaluate the company’s prospects and risks before investing in the IPO.
In conclusion, the upcoming IPOs of Wakefit and Corona Remedies have been gaining significant attention from investors. The strong demand for these IPOs is reflected in the grey market premium, which has jumped up to 18%. Investors should carefully evaluate the company’s prospects and risks before investing in the IPO. With the IPO market expected to remain active in the coming months, investors can look forward to many exciting opportunities to invest in growth-oriented companies.
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