Shares of Sah Polymers Ltd were trading at a premium of ₹4 per share in the grey market on Friday, according to topsharebrokers.com.
The initial public offer (IPO) price per share is ₹65 at the higher end, while its estimated listing price as per the current grey market price is ₹69, 6.15 percent higher.
'Grey market premium' is the term used to describe investors' readiness to pay more than the issue price.
According to the brokerage, Friday's grey market price trend indicates upside and signals a strong listing.
The company fixed the price band at ₹61 to 65 per equity share for the proposed initial public offer.
The allotment of shares for the company's IPO is scheduled to take place on Monday, January 9.
On the final day or fourth day, the IPO of Sah Polymers was subscribed 17.46 times driven by strong response from retail investors and non-institutional investors (NIIs).
The public issue that opened for subscription on Friday, December 30, 2022, closed on Wednesday, January 4, 2023. The public issue was subscribed 86 percent on Day 1 while on Day 2, the issue was subscribed 2.37 times, and on Day 3, the issue was subscribed 5.35 times.
Pantomath Capital Advisors Private Ltd is the sole book running lead manager to the issue.
The shares of Sah Polymers will be listed on the bourses on Thursday, January 12.