The initial public offering of Usha Financial Services Ltd. is set to list on the NSE SME platform on Oct. 31. Ahead of the listing, the grey market premium on the Usha Financial Services IPO stood at Rs 10 as of 6:03 a.m. on Oct. 30. The GMP trend indicated a decent listing for the shares of the non-banking finance company. As per InvestorGain, shares of Usha Financial Services Ltd. are likely to make their D-street debut with a 5.95% premium over the IPO’s upper price of Rs 168 apiece.
However, Usha Financial Services IPO GMP has been declining over the past week, slipping to Rs 10 from Rs 51, recorded on Oct. 23.
Notably, GMP or grey market price is not an official price quote for the stock and is based on speculation.
The Usha Financial Services IPO was open for subscription between Oct. 24 and Oct. 28.
The issue received a decent response from investors, who applied for 19.37 times the share available, as per data from Chittorgarh. Retail investors applied for 20.76 times the shares reserved for the category. Qualified Institutional Buyers bid for 10.04 times the shares reserved for them, while non-institutional investors booked their allocation 28.55 times.
Content retrieved from: https://www.ndtvprofit.com/markets/usha-financial-services-ipo-gmp-indicates-6-listing-gain-ahead-of-debut.
