The allotment of shares in Glass Wall Systems (India) is expected to be finalised today, September 11, after the Rs 427.89-crore initial public offering (IPO) drew strong demand during its three-day bidding period.
The IPO was open from September 8 to September 10, with the price band fixed at Rs 172-182 per share. The shares are scheduled to list on the BSE and NSE on September 16.
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The grey market premium has remained elevated ahead of the allotment. According to InvestorGain, the GMP was Rs 45 per share based on its latest September 10 update. At the upper end of the Rs 182 price band, this indicates an estimated listing price of around Rs 227, or a premium of approximately 25 percent.
GMP figures are unofficial and based on activity in the unregulated grey market. They can change before listing and should not be treated as a guarantee of the actual listing price or returns.