Bonfiglioli Transmissions India is commanding a grey market premium (GMP) of nearly 25 percent ahead of its Rs 2,533.6-crore initial public offering (IPO), which opens for subscription on October 15.
According to market tracking platform InvestorGain, shares of the power transmission and industrial solutions provider were trading at a premium of around 25 percent in the grey market as of October 12.
However, grey market premiums are unofficial indicators based on speculative trading and do not guarantee listing gains.
The company, an Indian subsidiary of Italy-based Bonfiglioli S.p.A., has fixed the IPO price band at Rs 558–586 per share. At the upper end of the price band, the issue values the company at approximately Rs 11,016 crore.
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