Dalal Street is gearing up for an action-packed session with five IPOs making their debut – three from the mainboard and two from the SME segment today, December 18.
Among these, the key contenders in the spotlight are Mobikwik and Vishal Mega Mart, the two mainboard IPOs and vastly different companies from each other. Among other public issues, these two IPOs have also captured strong investor interest, but the big question remains: who will see a better listing?
Let’s take a breakdown of it
Grey Market Premiums
The grey market often gives a sneak peek into how an IPO might perform. The digital payments provider, Mobikwik shares are commanding a grey market premium (GMP) of Rs 160, translating to a 57.35 per cent premium over the upper issue price of Rs 279.
Also Read MobiKwik IPO Share Price Listing 2024 Highlights: MobiKwik sees stellar debut, lists at 57% premium Vishal Mega Mart IPO Subscription Status Highlights: Check GMP price, allotment, listing, and other details Stocks To Watch: NHPC, Reliance Power, Ambuja Cements, Exide Industries, REC, Jindal Saw, Pfizer, Granules India Stocks To Watch: ONGC, Jubilant Foodworks, Reliance Power, Reliance Infrastructure, Reliance Industries, SBI, Tata Power, Shriram Finance
Despite a minor dip from its earlier GMP of over 60 per cent, Mobikwik pubic issue which opened for subscription from December 11 to December 13, on the final day of bidding saw an overall subscription rate of 119.38 times.
Also Read: Vishal Mega Mart IPO Share Price Listing 2024 Live Updates: Check listing date, time, GMP price, and other details
On the flip side, Vishal Mega Mart’s GMP stands at Rs 20.5, marking out a premium of 26 per cent over its issue price of Rs 78. The retail portion in the Vishal Mega Mart issue drew a drew significant attention with an overall subscription rate of 28 times, largely driven by Qualified Institutional Buyers (QIBs), who subscribed their portion by 80.75 times.
However, it is to note that grey market activity is only an indicator and does not guarantee anything about the listing-day performance.
Key Differences – Fresh Issue vs OFS
One of the major differences between the two IPOs is the structure. Mobikwik’s Rs 572 crore IPO is a fresh issue,
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