The initial public offering (IPO) of Crystal Crop Protection is commanding a grey market premium (GMP) of nearly 17 percent ahead of its subscription opening on November 18.
In the grey market, Crystal Crop Protection IPO was trading at a premium of Rs 45 per share as of November 13, according to data from InvestorGain. This translates into a GMP of around 16.54 percent over the upper end of the IPO price band of Rs 272.
Going by the latest grey market premium, the estimated listing price of Crystal Crop Protection shares stands at around Rs 317 apiece, marking a potential gain of approximately 16.5 percent over the issue price.
Read Also: Crystal Crop Protection fixes price band at Rs 259-272 per share for Rs 456-crore IPO, issue opens November 18
However, the grey market premium is an unofficial indicator of investor sentiment and does not guarantee listing gains. It can fluctuate depending on market conditions and should not be considered a prediction of the actual listing price.