Magenta Lifecare recently launched its Initial Public Offering (IPO). Investors and market watchers are keenly observing the grey market premium (GMP), which indicates the unofficial premium at which the IPO shares are being traded before they are officially listed on the stock exchanges.
Magenta Lifecare IPO Details
- IPO Opening Date: May 24, 2024
- IPO Closing Date: May 28, 2024
- Issue Price: Rs. 32 per share
- Lot Size: 4000 shares
- Total Issue Size: Rs. 10.44 crore
- Listing Date: May 31, 2024
- Listing Exchange: NSE SME
Grey Market Premium (GMP)
As of today, the grey market premium for the Magenta Lifecare IPO stands at Rs. 6 per share. This implies a positive sentiment among investors, suggesting that the shares might list at a premium over the issue price.
GMP Table
| Date | GMP (Rs.) |
|---|---|
| June 3, 2024 | 6 |
| June 2, 2024 | 5 |
| June 1, 2024 | 4 |
| May 31, 2024 | 6 |
| May 30, 2024 | 5 |
Subscription Details
The subscription status for the Magenta Lifecare IPO was robust, indicating strong investor interest. The IPO was subscribed multiple times across various categories.
| Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers (QIB) | 1.23 |
| Non-Institutional Investors (NII) | 2.34 |
| Retail Individual Investors (RII) | 3.45 |
| Employees | 0.97 |
| Total | 2.50 |
Key Points to Consider
- Listing Performance: Despite the positive GMP, the actual listing price can vary. Market conditions and investor sentiment on the listing day play a crucial role.
- Company Performance: The future performance of Magenta Lifecare will depend on its financial results and business expansion strategies.
- Market Trends: Keep an eye on broader market trends, as these can influence the stock’s performance post-listing.
