Ratnaveer IPO Listing Date Announced: Expectations Soar in Grey Market

Ratnaveer IPO Listing Date Announced: Expectations Soar in Grey Market
Image/website Ratnaveer

Listing Date Confirmation

After the announcement of the Ratnaveer IPO allotment status, investors eagerly awaited news of the listing date for Ratnaveer Precision Engineering Ltd. The anticipation has come to an end as the company’s initial public offering (IPO) is scheduled to be listed on September 11, 2023.

Listing on BSE ‘T’ Group

In accordance with a notice from the Bombay Stock Exchange (BSE), effective from Monday, September 11, 2023, Ratnaveer Precision Engineering Limited’s equity shares will be listed and admitted to dealings on the Exchange in the ‘T’ group of securities. This listing signifies an important milestone for the company as it prepares to enter the stock market.

Trade-for-Trade Segment

Additionally, as per SEBI circular No. CIR/MRD/DP/02/2012 dated January 20, 2012, the scrip will be included in the Trade-for-Trade segment for the first 10 trading days. This provides a safeguard against excessive volatility during the initial days of trading, ensuring a more stable market environment for investors.

Dual Listing on BSE and NSE

Investors can look forward to the Ratnaveer IPO being listed on both the BSE and the National Stock Exchange (NSE). The company’s shares will be introduced in a special pre-open session on Monday, marking the beginning of its journey in the secondary market.

Grey Market Enthusiasm

In recent developments, the grey market has shown heightened enthusiasm for the Ratnaveer IPO. Market observers report that shares of Ratnaveer Precision Engineering Limited are commanding a premium of ₹60 in the grey market today.

Ratnaveer IPO GMP Surges

The Grey Market Premium (GMP) for Ratnaveer Precision Engineering IPO has seen a significant increase, rising to ₹60 today. This marks a ₹10 increase from its GMP of ₹50 per equity share on Friday. Market observers attribute this surge in GMP to the strong response from investors and positive sentiment in the Indian stock market.

Market Optimism and Nifty’s Performance

Market sentiment has been on an upswing, especially following Nifty’s closure above the 19,800 level. Additionally, as the Sensex and FTSE indices are set for a rejig, more inflows are expected in Nifty heavyweights like HDFC Bank, SBI, Axis Bank, among others. This optimism in the broader market is contributing to the improved mood in the grey market.

Expectations for Ratnaveer IPO Listing Price

Market observers suggest that with a GMP of ₹60, the grey market is anticipating a listing price for Ratnaveer IPO around ₹158 (₹98 + ₹60). This projection represents a significant increase of over 60% from the Ratnaveer IPO’s price band, which ranged from ₹93 to ₹98 per equity share.

Caution: Focus on Fundamentals

While the grey market provides insights into market sentiment, experts caution that GMP is not always an ideal indicator for assessing the expected gains from an initial offering. Investors are advised to conduct thorough research, analyze the company’s financials, and consider its fundamental prospects for the medium to long term.