The initial public offering (IPO) of M K Sons Fine Jewels opened for bidding today, with the issue receiving 11 percent subscription by 11:15 am on October 28, as per the NSE data.
The Rs 275.4-crore IPO received bids for 12,54,890 shares against 1,19,00,000 shares on offer. The national institutional investors led the demand with 31 percent subscription, followed by retail investors with 8 percent subscription.
In the grey market, the M K Sons Fine Jewels shares were commanding a premium of 5 percent on the morning of October 28, as per InvestorGain.
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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.