Divgi TorqTransfer Systems IPO: The Initial Public Offering (IPO) of Divgi TorqueTransfer Systems Ltd is expected to list on BSE & SME tomorrow i.e. March 14, 2023. public issue worth 412.12 crore was subscribed 5.44 times in the three days of bidding from March 1 to March 3, 2023. According to market observers, the gray market sentiment has improved after two days of beating. He said Divgi is available at a premium to TorqueTransfer Systems’ stock. 45 in the gray market today.
Divgi TorqTransfer Systems IPO GMNP today
Market observers said Divgi TorqTransfer Systems IPO GMP (grey market premium) today 45, which is 10 more than your yesterday’s GMP 35 each. He said the rise in gray market sentiment can be attributed to the buying interest shown by Dalal Street bulls in the morning deals on Dalal Street. He added that the Divgi TorqTransfer Systems IPO remains in GMP positive territory despite weak stock market sentiment.
On this Divgi TorqTransfer Systems IPO GMP signals, market experts said that considering the gray market mood of last few days, we can assume that gray market is expecting positive opening for Divgi TorqTransfer Systems shares.
What does this GMP mean?
Market observers say Divgi TorqTransfer Systems IPO GMP today 45, which means the gray market is expecting Divgi TorqTransfer Systems IPO listing will be around 635 ( 590+ 45), which is around 7.50 per cent of the Divgi TorqTransfer Systems IPO price band, which was fixed at Rs. since 560 590 each level.
However, stock market experts advised allottees of Divgi TorqTransfer Systems IPO to stick to their convictions developed after scanning the balance sheet of the company. He added that GMP is not an ideal indicator regarding potential listing gains from an IPO as it is non-regulated and purely speculative. He further said that GMP can also be artificial as sometimes it involves people who have high stake in the public issue.
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