Geophones and seismic cables manufacturer HGS India is set to make its stock market debut on November 6, after its initial public offering (IPO) attracted strong investor demand, with the issue witnessing an overall subscription of 231.18 times on the final day of bidding.
Ahead of the listing, HGS India shares are commanding a premium in the grey market, indicating expectations of a positive debut on the NSE Emerge platform.
According to InvestorGain, the latest grey market premium (GMP) is Rs 40 per share. At the upper end of the IPO price of Rs 120, this translates into an indicative listing price of Rs 160, implying a potential premium of around 33.33 percent.
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However, the grey market is unofficial and unregulated. GMP is only an indicator of market sentiment and does not guarantee the actual listing price or listing gains.