IPO Watch: Gurunanak Agriculture, Matrix Geo among 5 SME issues in focus. Who’s leading the GMP race?
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IPO Track
In the IPO-heavy week, SME IPOs have been drawing varied investor interest. Investors should track these five public issues on NSE: Gurunanak Agriculture India, Matrix Geo Solutions, Ecoline Exim, Prime Cable Industries, and Manas Polymers and Energies. Their respective grey market premiums (GMPs) provide an early glimpse of potential listing trends.
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Gurunanak Agriculture India IPO
The issue opened for subscription on Wednesday, September 24, and was 50% booked. Shares were commanding a GMP of Rs 16 per share over the issue price of Rs 75. The estimated listing price is Rs 91, indicating a 21% upside.
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Matrix Geo Solutions IPO
This SME IPO opened on Tuesday, September 23, and was 64% booked as of day 2. The GMP stood at Rs 4 over the price band of Rs 104. The estimated listing price is Rs 108, implying a gain of 3.9%.
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Ecoline Exim IPO
This SME IPO will close today. It was subscribed 1.10 times in the first two days of bidding. The GMP ranged between Rs 14–15 over the issue price of Rs 141. The estimated listing price is Rs 156, indicating a premium of 11%.
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Prime Cable Industries IPO
Prime Cable Industries’ SME IPO closed today with a subscription of 7.77 times. The GMP was Rs 3 over the issue price of Rs 83. The estimated listing price is Rs 86, implying a 3.6% listing premium.
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Manas Polymers and Energies IPO
The issue will open for bidding on Friday, September 26, and close on September 30. The company has set the price band at Rs 76–81. At the time of filing, there was no GMP available.