SJS Enterprises IPO: What does GMP reflect ahead of share listing date

SJS Enterprises IPO GMP

According to market observers, SJS Enterprises IPO is GMP (Grey Market Premium) today 62, which is 22 more than Friday evening’s gray market premium 40. On Friday morning, SJS Enterprises IPO was gray market value 28. Market observers said the IPO GMP of SJS Enterprises rose on Friday following a bullish trend in the stock market. He said the IPO GMP of SJS Enterprises has been weak due to the recent negative trend in the stock market. If the market sentiment remains positive on the date of listing i.e. Monday, then they expected a marginal increase in the listing from the public issue.

What does this GMP mean?

Market observers said the listing by the GMP IPO is nothing but an informal estimate by the gray market regarding profit. SJS Enterprises’ IPO Is Today as GMP 62, it simply means that the gray market is expecting SJS Enterprises IPO listing 604 ( 542 + 62), about 10 percent above its price band from 531 542 per equity share.

Speaking on the fundamentals of SJS Enterprises; Aastha Jain, Research Analyst, Hem Securities said, “The company is bringing this issue at the price band. from 531 542 per share on FY 2011 EPS (earnings per share) at a P/E multiple of 35. Being the leading aesthetics solutions provider with the widest suite of premium products in the growing industry, has strong manufacturing capabilities backed by an established supply chain and distribution mechanism. The company has strong innovation and product design and development capabilities with long-standing customer relationships and a track record of strong financial position and financial performance.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.