In the grey market, Kanohar Electricals shares were commanding a premium of 35.13 percent on September 10, according to market-tracking platform InvestorGain.
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At the upper end of the IPO price band of Rs 632, a 35.13 percent GMP indicates an implied grey-market price of around Rs 854 per share. However, grey market premiums are unofficial and can change rapidly depending on market sentiment. They should not be treated as an assured listing gain or a reflection of the company's fundamentals.
The price band for the IPO has been fixed at Rs 601 to Rs 632 per equity share, with a face value of Rs 2 per share.
The minimum lot size is 23 shares, meaning retail investors bidding at the upper price band will need to invest Rs 14,536 for one lot. Bids can be placed in multiples of 23 shares thereafter.