February 13, 2024
Stocks

The GMP for the Rashi Peripherals IPO indicates a promising start for the shares prior to their listing date.

Following the announcement of share allocation, fortunate allottees eagerly anticipate the listing date of the Rashi Peripherals IPO, projected to occur on February 14, 2024, possibly tomorrow. This expectation aligns with the T+3 listing rule enforced for all public offerings since December 1, 2023. Despite a reversal in the trend on Dalal Street, the grey market indicates a potential favorable return for allottees as the Rashi Peripherals IPO listing date approaches. The grey market premium (GMP) for Rashi Peripherals shares today stands at ₹60, a decrease of ₹16 from Tuesday morning's GMP of ₹76. However, market observers suggest that this adjustment reflects a fair valuation for the public offering, with a ₹60 premium still indicating a promising debut for Rashi Peripherals shares. Furthermore, they predict that with today's GMP of ₹60, the IPO listing price for Rashi Peripherals is expected to be around ₹371 (₹311 + ₹60), approximately 19 percent higher than the IPO price band of ₹295 to ₹311 per equity share. Despite the slight decline in today's Rashi Peripherals IPO GMP, the grey market sentiment continues to suggest a favorable debut for Rashi Peripherals shares on Dalal Street.p>

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