DCX Systems IPO: What does GMP indicate as all eyes on share allotment date?

 DCX Systems IPO: What does GMP indicate as all eyes on share allotment date?

DCX Systems IPO GMP today stands at Rs 80, which means the gray market is expecting its listing at a premium of around 42%, said market observers.

DCX Systems IPO GMP today is ₹80, say market watchers

DCX Systems IPO GMP: Three days of bidding for DCX Systems Initial Public Offering (IPO) has ended and the bidders are eagerly waiting for the DCX Systems IPO allotment date, which is most likely on 7th November 2022 Is. Within three days of bidding, the Janta ₹500 crore issue received an overwhelming response from investors. According to the IPO subscription status of DCX Systems, the public issue was subscribed 69.79 times while its retail segment was subscribed 61.77 times. Meanwhile, the gray market is also giving strong emphasis on public issues. According to market experts, the shares of DCX Systems are available today at a premium of ₹80 in the gray market.

DCX Systems IPO GMP Today

According to market observers, the Gray Market Premium (GMP) of DCX Systems IPO today stands at Rs 80, which is Rs 12 higher than yesterday's closing price. Market observers said the increase in the gray market value is noticeable as it has risen despite the fall in the stock market sentiment for the past two days. A better response to the public offer can be expected if there is a trend reversal in the secondary market sentiment, he added. He further added that the DCX Systems IPO GMP has remained around ₹80 for the past few days and indicates that the gray market is expecting a strong opening for the shares of DCX Systems on Dalal Street.

what does this gmp mean

DCX Systems IPO GMP today is ₹80, which means that the gray market is expecting the DCX Systems IPO listing to be around ₹287 (₹207 + ₹80), up nearly 42 percent from its issue price of ₹197 to ₹207. is more. per equity share.

However, stock market experts say that the gray market premium should not be taken seriously as it has nothing to do with the fundamentals of the company. He further added that GMP can also be artificial as it also includes people who have a high stake in the initial public offering. He advised investors to go through the balance sheet of the company as it gives a solid picture of its fundamentals.