The share allotment for Western Carriers India Limited’s Initial Public Offering (IPO) has been completed, and now investors are waiting for the listing date. According to the T+3 rule, the shares are expected to list on 24th September 2024. Investors and market analysts are keeping an eye on the grey market premium (GMP) for Western Carriers India IPO.
IPO GMP Today
Market analysts have reported that the current GMP for the Western Carriers India IPO has dropped to ₹21. This is a significant decrease from ₹52, where it stood on Friday, showing a ₹31 drop. While this decline is disappointing, especially with the stock market performing well and major indices hitting record highs, experts believe this fall is common after the share allotment. They predict that the GMP won’t fall further and should stabilize as it aligns with the actual value of the company’s shares ahead of the listing date.
Expected Western Carriers India IPO Listing Price
So, what does the current GMP mean? Based on today’s GMP of ₹21, analysts estimate that the Western Carriers India IPO shares might list around ₹193 (₹172 issue price + ₹21 GMP). While this suggests a modest profit for investors who were allotted shares, it may not meet high expectations.
However, experts caution that the GMP is not a reliable measure of potential listing gains. It is an unregulated market and doesn’t directly reflect the company’s financial performance. They recommend that investors focus on the company’s fundamentals and financial statements when assessing the potential returns from this IPO.
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