Shares of Bombay Coated & Special Steels are set to make their stock market debut on November 5, with the stock commanding a healthy grey market premium (GMP) of around 10 percent ahead of listing.
In the unlisted market, Bombay Coated & Special Steels shares were trading at a premium of around 10 percent on November 4, according to InvestorGain. At the upper end of the IPO price band of Rs 82, this premium indicates an estimated listing price of around Rs 90. However, this is only an unofficial indication and may change before the shares begin trading on the stock exchanges.
The grey market premium (GMP) is an unofficial indicator of investor sentiment and does not guarantee listing gains. It can fluctuate depending on market conditions and should not be treated as a prediction of the actual listing price.
Read Also: M K Sons Fine Jewels shares list at 6% premium on BSE, NSE — should you buy, sell or hold?
The company is scheduled to list its shares on the BSE and NSE on November 5.