Date of Ratnaveer IPO Listing Announced; GMP Tells Allottees of Strong Listing
On September 11, 2023, Ratnaveer Precision Engineering will list on the stock exchange. According to the BSE announcement, Ratnaveer’s equity shares will be listed and allowed to trading on the Exchange as part of the list of securities in the “T” category as of Monday.
According to SEBI Circular No. CIR/MRD/DP/02/2012 dated January 20, 2012, the stock shall be traded for 10 trading days in the Trade-for-Trade sector. A special pre-open session will be held on Monday to list Ratnaveer shares on the BSE and NSE.
According to certain accounts, the Ratnaveer IPO’s grey market premium has been selling at a higher price. Market watchers claim that shares of Ratnaveer Precision Engineering Limited are now trading at a premium of 60 rupees.
Grey market premium (GMP) for Ratnaveer Precision Engineering is 60 today, an increase of 10 from its GMP of 50 per equity share on Friday.
According to market watchers cited by Livemint, the strong response from investors and the upbeat environment in the Indian stock market have strengthened sentiments in the grey market. Additionally, they projected that when the Nifty closed above the 19,800 barrier, the market attitude will likely continue optimistic.
They also noted that more inflows are expected in heavyweight Nifty components like HDFC Bank, SBI, Axis Bank, and others due to the upcoming reorganization of the Sensex and FTSE indexes.
As a result, if Indian indexes continue to climb, the mood in the grey market may continue to improve, which might lead to an increase in the Ratnaveer IPO Grey Market Premium (GMP) prior to the listing date.
