Retina Paints IPO: What GMP signals about SME issue as subscription ends today

Retina Paints IPO: Subscription for the initial public offering (IPO) of Retina Paints Ltd began on 19th April 2023 and it is going to end on 24th April 2023 i.e. today. As per Retina Paints IPO subscription status, the public issue, which is proposed for listing on BSE SME exchange, by 10:37 AM on last day of bidding, the SME IPO has been subscribed 2.76 times whereas its retail portion has been subscribed 2.84 times. Meanwhile, grey market sentiments have also gone bullish on the public issue. According to market observers, shares of Retina Paints Ltd are available at a premium of ₹4 in grey market today.

Retina Paints IPO GMP today

According to market observers, Retina Paints IPO GMP (grey market premium) today is ₹4, which is Re 1 higher from its yesterday's GMP of ₹3. Market observers maintained that rise in Retina Paints IPO GMP can be attributed to the positive sentiments on Dalal Street, especially the strong recovery from early morning losses on Friday deals. They said that grey market is bullish on the issue after strong response by investors as the public issue got fully subscribed much before the end of its subscription.

What this GMP mean?

Market observers went on to add that Retina Paints IPO GMP today is ₹4, which means grey market is expecting that Retina Paints IPO listing price would be around ₹34, which is more than 13 per cent higher from its fixed price band of ₹30 per share. Observers went on to add that Retina Paints IPO GMP of ₹4 per share is dropping a hint that the public issue may list at double digit percentage premium.

However, stock market experts maintained that grey market premium is not an ideal indicator about the success of failure of a public issue. One should scan financials of the company as it signals concrete picture of the fundamentals of the company.

Retina Paints IPO subscription status

As per the Retina Paints IPO subscription status, by 10:37 AM on day 4 of bidding, the BSE SME IPO has been subscribed 2.76 times. Its retail portion has been subscribed 2.84 times whereas other portion of the IPO got subscribed 2.61 times.

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