The initial public offering (IPO) of M K Sons Fine Jewels continued to draw strong investor interest on the second day of bidding, with the issue receiving 74 percent subscription by 10:40 am on October 29, according to NSE data.
In the grey market, M K Sons Fine Jewels shares were commanding a premium of 9 percent on the morning of October 29, as per InvestorGain.
The grey market premium is an unofficial indicator of investor sentiment towards a public issue before its listing. However, it does not guarantee listing gains, and the premium can fluctuate depending on market conditions and investor demand.
The company has fixed the price band for the IPO at Rs 153-162 per share, valuing the company at around Rs 912 crore at the upper end of the band.
The bidding will close on October 30. The share allotment is expected to be finalised by November 2, while the company's shares are scheduled to list on the stock exchanges on November 4.