Want shares in the gray market! Premium reaches Rs 152 even before IPO release; Huge profit at the time of listing?

Upcoming IPO: The IPO market is pretty quiet in the month of June. No new IPOs are likely to launch on the main board this month. Meanwhile, several IPOs are about to launch in the SME sector. One such IPO is already showing signs of making a profit for investors. It is Susan Electricals India. This IPO is getting strong support in the gray market. It is likely to give impressive returns after listing.

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The issue size of this SME IPO is ₹70.38 crore. The company will issue 4.7 million new shares worth ₹60.22 crore. 80,000 shares worth ₹10.16 crore will be issued by OFS. The IPO will start on June 11 and close on June 15. Its listing is likely to take place on June 18.

What is the price band?

The price range of this IPO is between ₹120 to ₹127, with a face value of ₹10 per share. A lot consists of 1,000 shares. Retail investors need to book at least two lots, which will require an initial investment of ₹2.54 lakh.

What is GMP?

This IPO is getting a huge response in the gray market. From its IPO price of ₹127, its GMP rose by ₹25 to ₹152 by Tuesday afternoon, representing a growth of nearly 20%. If this momentum continues, this IPO could generate significant returns for investors once listed. But GMP may fluctuate till the date of listing.

What does the company do?

This company was established in 2007. The company manufactures aluminum and copper electrical winding wires, conductors and power cables. They are used in transformers, motors, alternators, coils and other electrical equipment.

The company will use the proceeds from the IPO to expand its manufacturing facility at Ghaziabad, meet working capital requirements and for general corporate purposes.

(Declaimer: We advise investors to consult qualified experts before taking any investment decision, as stock market conditions can change rapidly.)

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