IPO GMP: What grey market signals about Vishal Mega Mart, Mobikwik, Sai Life Science IPOs

IPO GMP: Three mainboard IPOs—Vishal Mega Mart, Mobikwik, and Sai Life Sciences—opened for subscription on Wednesday, December 11, and will remain open until Friday, December 13. Trends from the grey market suggest healthy investor interest in Mobikwik and Vishal Mega Mart shares, while Sai Life Sciences is trading at a modest premium.

The grey market premium (GMP) of stock not only shows the difference between its expected listing price and its IPO price but also reflects investor sentiment and demand for the stock ahead of its debut.

Vishal Mega Mart IPO GMP

According to market sources, the latest GMP of Vishal Mega Mart is ₹22. With a price of ₹78, the estimated listing price of Vishal Mega Mart shares is ₹100, a premium of 28.2 per cent. The latest GMP is higher than the lowest GMP of Vishal Mega Mart IPO at ₹13. Meanwhile, the highest GMP of the IPO was ₹25.

Track live updated of Vishal Mega Mart IPO here

Mobikwik IPO GMP

Mobikwik stock's last GMP was ₹150. This, as per market sources, is the highest GMP of the IPO. Considering the upper price band of the issue at ₹279 and the last GMP, Mobikwik shares may be listed at ₹429 at a premium of 53.8 per cent.

Track live updates of Mobikwik IPO here

Sai Life Sciences IPO GMP

The latest GMP of Sai Life Sciences is ₹40, above its lowest GMP of ₹22. The IPO's highest GMP is ₹42, according to market sources. Taking into account the GMP and the upper price band of the issue at ₹549, Sai Life Sciences shares' estimated listing price is ₹589, a premium of 7.3 per cent.

Track live updates of Sai Life Sciences IPO here

One Mobikwik Systems IPO details

Mobikwik aims to raise ₹572 crore from the issue which is entirely a fresh issue of 2.05 crore equity shares. It has fixed a price band of ₹265 to ₹279 per share and the IPO lot size is 53 shares. SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers of the Mobikwik IPO, while Link Intime India is the IPO registrar.

Vishal Mega Mart IPO details

It is entirely of an offer for sale (OFS) of ₹8,000 crore by Samayat Services LLP, the promoter that holds a 96.46 per cent stake in Vishal Mega Mart. The price band for the Vishal Mega Mart IPO has been set between ₹74 and ₹78 per equity share with a face value of ₹10. Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India have been appointed lead managers of the public issue. KFin Technologies Limited has appointed this public offer's official registrar.

Sai Life Sciences IPO details

It is a ₹3,043 crore book-built issue which combines the new issuance of equity shares of about ₹950 crore and an offer for sale (OFS) of up to 3.81 crore equity shares by promoter, investor shareholders, and various other shareholders. Sai Life Sciences IPO price band has been fixed at ₹522-549 per share. Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, and IIFL Securities Ltd are the book-running lead managers for the Sai Life Sciences IPO. Kfin Technologies Limited serves as the registrar for the issue.

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