Shares of Sula Vineyards Ltd traded at a grey market premium or GMP of 34 rupees per share today, according to topsharebrokers.com.
The IPO price per share is 357 rupees while its estimated listing price is 391 rupees, up 9.52%. This makes a grey market premium of 34 rupees per share.
The term 'Grey Market Premium' refers to the additional amount that investors are willing to pay over the issue price.
According to the brokerage, the lowest GMP is recorded at 34 rupees, while the highest is 71 rupees. Since December 3, shares of wine producers and sellers have been traded on the grey market.
The current IPO GMP trend is downward and is expected to further drop.
The issue will open for anchor investors on Friday, December 9. The public issue with a face value of 2 rupees per equity share is a complete offer for sale (OFS) aggregating to 26,900,530 equity shares by existing shareholders.
Subscriptions to the IPO will begin on Monday, December 12, and end on Wednesday, December 14.
Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, and IIFL Securities Ltd are the book running lead managers.
