The initial public offering (IPO) of Glass Wall Systems continued its strong momentum on the second day of bidding, with the issue receiving 4.27 times subscription as of 11:25 am on September 9, as per NSE data.
In the grey market, Glass Wall Systems shares were commanding a premium of 31.87 percent on September 9, according to market-tracking platform InvestorGain.
Grey market premiums are unofficial indicators and are driven largely by market sentiment and speculation. They can change before listing and do not guarantee listing gains.
The Glass Wall Systems IPO is a book-built issue of Rs 427.89 crore. The offer comprises a fresh issue of 32.97 lakh shares aggregating to Rs 60 crore and an offer for sale (OFS) of 2.02 crore shares worth Rs 367.89 crore.
The IPO price band has been fixed at Rs 172-182 per share.