HGS India shares made a positive debut on the stock market on November 6, listing at a premium of around 34 percent over the initial public offering (IPO) price on the NSE Emerge platform.
The shares listed at Rs 160 apiece, compared with the IPO issue price of Rs 120, translating into a listing gain of 33.33 percent.
The listing was broadly in line with grey market expectations. HGS India was commanding a grey market premium (GMP) of around Rs 40 per share ahead of its debut, indicating a potential listing price of Rs 160, according to InvestorGain.
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However, the grey market is unofficial and unregulated. GMP is only an indicator of investor sentiment and does not guarantee the actual listing price or listing gains.