According to the current grey market premia, the listing of Ami Organics and Vijaya Diagnostic Center is likely to be a mixed bag for the allottee investors.
Dealers and the trackers of the grey market said that the premium for the companies ahead of listing is stable. However, a decent listing gain is expected.
In the grey market, Ami Organics is commanding a strong premium of Rs 150-155 per share, over the price band of Rs 603-610 apiece.
Abhay Doshi, co-founder of UnlistedArena, said that Ami Organics is expected to deliver strong listing gains as the company has left something on the table for investors.
“The company has a niche and premium product line,” the grey market tracker added. “The API products of Ami Organics are much in demand in the industry.”
However, Vijaya Diagnostics Center is expected to dishearten the investors as the company is trading at a discount of Rs 15-20 as against the price range of Rs 521-533.
Narottam Dharawat of Mumbai-based Dharawat Securities said that the premium of Vijaya Diagnostics has been stable over the last few days. “It may deliver a positive surprise for the investors, following the strong demand in the healthcare sector.”
On the other hand, Doshi of UnlistedArena is not bullish on Vijaya Diagnostics. He said that the pricing of the counter is quite aggressive and the response was not very strong either.
Both Ami Organics and Vijaya Diagnostics are expected to make Dalal Street debut on Tuesday, September 14. The issues were open for subscription during September 1-3.
The Rs 570-crore IPO of Ami Organics was subscribed by 64.54 times, thanks to strong response from institutional and HNI investors. On the other hand, the Rs 1,895 crore IPO of Vijaya Diagnostic’s received 4.54 times subscription.
The recent issues of the primary markets had failed to deliver a hefty listing pop to the investors, thanks to the spree of IPOs, which raised money at lofty and expensive valuations.
Next week, the primary issue of Sansera Engineering will also hit the market. The Bengaluru based auto component maker will raise Rs 1,283 crore via its IPO in the fixed range of Rs 734-744, between September 14-16.
It is commanding a premium of Rs 70 in the grey market. There is not much activity on the counter, but sentiments may improve after the listing of these two issues, said Doshi.
