Goyal Salt IPO GMP Day 3: Subscription & GMP Status Today

Goyal Salt is set to open its IPO on 26 September 2023 and will be listed on the stock exchange on 11 October 2023. Many are closely watching the Goyal Salt IPO GMP to gauge investor sentiment.

Today 3rd day of the Goyal Salt grey market premium (GMP).  You can pre-apply for the Goyal Salt IPO on Upstox. which means the pre-apply open date, usually begins a day before the IPO opens for the subscription.

Goyal Salt IPO GMP Today

On 18 September 2023, Goyal Salt’s IPO was priced at ₹38.00, with the GMP standing at ₹13. There was no change in the GMP for the next two days, maintaining the estimated listing price at ₹51, marking a 34.21% increase.

The trend took a positive turn on 21 September 2023, as the GMP rose to ₹15, pushing the estimated listing price to ₹53, a 39.47% rise. The following day, the GMP remained at ₹18, but the day’s movement was marked as ‘GMP Up’. This GMP of ₹18 remained consistent for the next four days until 25 September 2023, keeping the estimated listing price at ₹56, a 47.37% increase.

However, on 27 September 2023, the market showed renewed optimism, with the GMP jumping to ₹26, indicating a ‘GMP Up’ movement. This surge pushed the estimated listing price to ₹64, a significant 68.42% increase from the IPO price.

But the optimism was short-lived. On 28 September 2023, the GMP fell to ₹24, marking a ‘GMP Down’ movement for the day. Despite the drop, the estimated listing price remained attractive at ₹62, a 63.16% rise from the IPO price.

The Sub2 Sauda Rate, another metric to gauge market sentiment, also saw fluctuations. It peaked at 59300 on 27 September and dipped to 54700 on 28 September

Goyal Salt IPO Subscription

On the first day of bidding, 26 September 2023, the Qualified Institutional Buyers (QIB) segment showed a tepid response with a subscription of just 0.01x. However, the Non-Institutional Investors (NII) and Retail Individual Investors (RII) segments displayed a robust interest, subscribing 6.80x and 14.25x, respectively. The total subscription for the day stood at 8.71x of the 32,49,000 shares offered.

The enthusiasm grew exponentially on the second day, 27 September 2023. The QIB segment saw a slight increase to 0.08x, but the NII and RII segments skyrocketed to 26.75x and 53.95x, respectively. The overall subscription reached a whopping 33.22x, indicating a strong demand for the Goyal Salt SME IPO.

The third day, 28 September 2023, brought even more momentum. The QIB segment, which had been lagging, jumped to a subscription of 4.24x. The NII segment continued its upward trajectory, reaching 43.57x, while the RII segment surpassed the 100x mark, registering a subscription of 101.31x. The total subscription for the day touched an impressive 62.00x.

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it’s important to note that GMP is not an official measure and often varies. It provides an early indicator of potential demand but does not guarantee the actual listing price. The GMP prices shown here are only news related to the grey market. We do not trade/deal in the grey market or subject to rates (sub2), nor do we recommend trading in the grey market

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Sharedhan. We advise investors to check with certified experts before making any investment decisions.


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