The initial public offering (IPO) of real estate developer Pranav Constructions remained in strong demand on the last day of bidding, with the issue receiving 20.28 times subscription as of 10:06 am on September 9, according to NSE data.
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The IPO opened for subscription on September 7 will close today, on September 9. The company has fixed the price band at Rs 118-124 per equity share.
In the unlisted market, Pranav Constructions shares were commanding a grey market premium (GMP) of around 36% over the upper end of the IPO price band on the morning of September 9, according to InvestorGain. At the upper issue price of Rs 124, the indicated premium translates to roughly Rs 45 per share.
Investors must note that the grey market premiums are unofficial and based on market speculation. They do not guarantee listing gains or reflect the company's fundamentals.