ipo: 3 Initial Public Offerings Coming to Stock Exchanges This Week: How Big List Can You Expect?

New Delhi: Shares of three companies that recently launched their initial public offering (IPO) will be listed on the stock exchanges for trading in the secondary market during the week. Given market conditions and gray market premiums (GMP), no significant listing gains should be expected.

The first list will be Ethos on Monday, a luxury watch retailer. It will be followed by eMudhra two days later, a certification authority. Aether Industries, a specialty chemical company, will make its debut on Friday.

Ethos GMP

Ethos claims to have the largest collection of luxury and luxury watches in India and retails 50 luxury and luxury brands such as Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, CarlF. Bucherer, Tissot, Will, Louis Moinet, and Balmain.

However, Dalal Street might not give her the luxury Monday treatment given its high ratings. Dealers in the unlisted or unlisted market said that Ethos shares were trading at a premium of Rs 20, which on the basis of the initial public offering price of Rs 878, reflects a meager listing gain.

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“The company has no peer listed, but the required valuation is very rich although the outlook is good and the current volatile market is not conducive to fundamental issues with such rich valuations,” said Ayush Agrawal, Senior Analyst. “We expect a tepid listing due to exorbitant valuations but no positive surprise can be ruled out amid improved market sentiment.”

eMudhra GMP

eMudhra is engaged in providing digital trust services and enterprise solutions to individuals and organizations operating in various industries. The company and its shareholders have raised Rs 413 crore from primary markets.

The company sold its shares in the range of Rs 243-256 each.

Dealers in the unlisted market said it was difficult to gauge the issuance’s potential listing gains as there was no over-the-counter trading. Though, given the market situation and past trend, a weak inclusion is expected.

Aether Industries GMP

Aether Industries is a specialty chemicals manufacturer. The company is the sole manufacturer of some chemicals in India like 4-(2-methoxyethyl)phenol (4MEP), 3-methoxy-2-methylbenzoyl chloride (MMBC), thiophene-2 ​​ethanol (T2E), ortho-tolyl benzonitrile ( OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone, and Bifenthrin Alcohol.

Analysts were very optimistic about its future prospects, but the case has struggled to capture the attention of retail investors during the bidding process. Despite this, thanks to a belated rise in orders especially from institutional investors, the problem was finally resolved.

Dinesh Gupta of the Unlisted Zone said Aether Industries was trading in GMP of Rs 29-31 in the over-the-counter markets. At the IPO price of 642 rupees, this reflects a premium of around 5 per cent, which is not much.

Much will depend on market conditions until Friday to see if the issue is able to hold the premium or increase it further.

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