NEW DELHI: The trend of strong premium at debut in the stock market may continue as IPOs of HP Adhesives and Supriya Lifescience are likely to reward investors this week. The stocks are scheduled to list on Monday and Tuesday, respectively.
Dealers active in the unofficial market for unlisted shares said HP Adhesives was trading at a premium of 34 per cent or Rs 90-97 per share. On the other hand, Supriya Lifescience stock were trading at a premium of Rs 137-150, they said. This means a premium of about 51 percent.
The grey market premium (GMP) usually indicates possible listing gains that investors can hope for. Price trends suggests investors can expect listing pop in the range of 40-50 per cent for both the issues.
The initial public offer of HP Adhesives Limited was subscribed 20.96 times on the last day of subscription on Friday. The IPO received bids for 5,29,89,650 shares against 25,28,500 shares on offer, according to NSE data.
The Mumbai-based HP Adhesives sold its shares in the range of Rs 262-274 apeice. HP Adhesives is a multi-product, multi-category consumer adhesives and sealants company. It is one of the leading manufacturers in the consumer segment of the adhesive industry for its largest product category – PVC solvent cement.
The company majorly garnered positive reviews and ratings from brokerage firms. However, a few of them have flagged concerns over higher valuations.
Similarly, Supriya Lifescience, which is a manufacturer and supplier of active pharmaceutical ingredients (APIs), sold its shares in the range of Rs 265-275 apiece.
The company has received majorly positive reviews from analysts who are bullish on the API manufacturer thanks to competitive pricing, market leadership and growth prospects for the company.
The GMP for CMS Infosystems, which handles cash for banks and financial institutions, stands at Rs 5, dealers said, which signals a flat listing for the issue on December 31. The IPO was subscribed 1.95 times on the last day of subscription on Thursday.
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