The allotment status for the Shree Tirupati Balajee IPO is expected to be finalized today, September 10, 2024. The IPO, which opened for subscription on September 5 and closed on September 9, was highly popular among investors, receiving bids for over 1.78 billion shares against an offering of 14.3 million shares, resulting in an oversubscription of 124.74 times.
Non-Institutional Investors (NIIs) showed the highest interest, subscribing 210.12 times, followed by Qualified Institutional Buyers (QIBs) at 150.87 times, and retail investors at 73.22 times.
The IPO price was set within a band of Rs 78 to Rs 83 per share, and the listing date for the shares on the BSE and NSE is expected to be September 12, 2024.
Investors who participated in the IPO can check their allotment status through the official websites of the BSE, NSE, or the IPO registrar, Link Intime India Pvt Ltd.
The shares are anticipated to be credited to eligible investors’ demat accounts by September 11, with refunds processed for unsuccessful bidders on the same day.
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The IPO’s strong demand is reflected in the Grey Market Premium (GMP), where shares are trading at a premium of approximately Rs 40 over the issue price, suggesting a potential listing price around Rs 123 per share, which is about 48% above the upper issue price of Rs 83.
This enthusiasm indicates positive market sentiment towards Shree Tirupati Balajee, which is driven by the company’s strong position in the agro-trading sector and favourable growth prospects.
Shree Tirupati Balajee IPO grey market premium (GMP) today
In a phenomenon that has left market pundits bewildered, shares of Shree Tirupati Balajee are commanding a formidable grey market premium, oscillating at a staggering Rs 39 or approximately 45% above the upper echelon of the IPO price, according to clandestine sources privy to the grey market’s Byzantine dynamics.
This enigmatic trend portends a resoundingly auspicious listing for Shree Tirupati Balajee shares on the bourses, scheduled to materialize on Thursday, September 12, 2024. If the current trajectory in the grey market persists, Shree Tirupati Balajee shares may debut at a vertiginous Rs 122, a premium of nearly 45% over the upper band of the issue price, leaving investors and analysts alike in a state of wonderment.
As the market teeters on the cusp of this impending listing, the air is thick with anticipation, and the grey market’s frenzied activity has reached a fever pitch, underscoring the insatiable appetite for Shree Tirupati Balajee shares.
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