You really can not avoid the excitement of Western Carriers (India) Limited IPO that has been making rumours, and now the moment of truth has come, and the share allotment process is complete! If you were one of the lucky ones to get an allotment, you are undoubtedly waiting for the listing date.
According to the ‘T+3’ listing rule, the shares are predicted to be listed on September 24, 2024. As we get closer to this date, investors are closely obserbing the grey market premium (GMP) to gauge the stock’s performance.
Current GMP Insights
Today, the GMP for Western Carriers India IPO is ₹21, which is quite a decline from Friday’s ₹52. This decline might be small of a letdown, mainly since the broader market is doing so well, with major indices touching record highs. But do not get too worried; marketet experts say this kind of decline is normal after share allocation.
They hope the GMP will stabilize as we approach the listing date. The grey market often adjusts to show the real value of the shares, so this drop is not necessarily a bad sign.
Expected Listing Price
So, what does this GMP tell us? Market viewers has given an estimate that the Western Carriers India IPO could list around ₹193 per share (₹172 issue price + ₹21 GMP). Whereas this suggests a positive return, it might not be as high as some had thought of.
Understanding GMP
It’s important to remember that GMP is not a metric and does not always show the company’s financial health. Market experts suggest investors to focus on the fundamentals and their own research rather than depending only on GMP.
Stick to the basics and trust the analysis you did before investing in the IPO.
How to Check Your Allotment Status
If you participated in the IPO, here is how you can check your allotment status:
On the BSE Website:
- Visit the BSE website here.
- Select ‘Equity’ in the Issue Type.
- Select ‘Western Carriers (India) Limited’ from the Issue Name dropdown menu.
- Enter either your Application No. or PAN.
- Verify by ticking the ‘I am not a robot’ box and click on ‘Search’.
Your allotment status will pop up on the screen.
On Bigshare Services:
- Visit the Bigshare Services website here.
- Select ‘Western Carriers (India) Limited’ in the Company Selection dropdown menu.
- Choose among Application No., Beneficiary ID, and PAN in the Selection Type.
- Enter the details as per your selection.
- Enter the Captcha code and click on ‘Search’.
Your allotment status will be displayed on the screen.
Final Thoughts
The Western Carriers India IPO has gained much interest. Whereas the current GMP might not be as high as expected, the company’s fundamentals and the broader market sentiment remain positive.
As always, it is important to base investment decisions on thorough research and a solid understanding of the company’s financials.
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Disclaimer
The information provided in this article is for educational purposes only and should not be considered as financial advice. Investors are encouraged to conduct thorough research or consult financial professionals before making any investment decisions. The author or website holds no liability for any investment outcomes based on the content of this article.
