Mumbai: The initial public offering (IPO) of ixigo, managed by its parent company Le Travenues Technology Limited, is set to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 18th June 2024. This will mark the first day ixigo shares become available for trading, starting at 10:00 AM. The shares will be listed under the ‘B’ category on the BSE, according to the exchange’s notice.
Grey Market Premium
Before the ixigo IPO listing, the grey market is showing positive signs. Today, the grey market premium (GMP) for ixigo shares is ₹30, an increase from ₹24 before the IPO subscription period. This GMP indicates that the grey market expects ixigo shares to list around ₹123 each, suggesting a potential gain of about 32% over the IPO issue price of ₹93.
Understanding the Grey Market Premium
A GMP of ₹30 means investors in the grey market believe ixigo shares will perform well when they start trading on Dalal Street. The strong response from primary market investors and the positive sentiment on Dalal Street are likely reasons for this bullish outlook.
However, market experts warn that the GMP is not a reliable predictor of actual market performance. The grey market operates outside regulatory oversight and does not directly reflect the company’s financials. Therefore, it is important for investors to focus on ixigo’s financial health and fundamentals rather than just the grey market trends.
Expert Advice for Investors
Stock market experts recommend that investors base their decisions on the financial strength and growth prospects of ixigo rather than the grey market premium. They suggest maintaining confidence in the investment decisions made during the IPO subscription, rather than relying solely on grey market signals.
In summary, while the grey market premium indicates a strong debut for ixigo shares, investors should stay grounded in the company’s financial data and market fundamentals for a more accurate assessment of the investment.
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