IPO for Syrma SGS Technologies: All eyes are now focused on the announcement of share allotment, which is most likely today, following the closure of the initial public offering (IPO). The grey market premium (GMP) of the public issue has increased from 20 to 55 per equity share in the grey market since the public offer opened on August 12, 2022. Market watchers claim that despite a two-day market sell-off, Syrma SGS Technologies IPO GMP has held constant at 55 after the public issue’s close.

However, the grey market sentiment toward the public issue reversed on Tuesday evening and increased from its low of 50 GMP yesterday to 55 at the close of the trading day. According to market watchers, the Syrma SGS Technologies IPO GMP today is 55, up 5 from the equity share’s low on Tuesday of 50. The Syrma SGS Technologies IPO GMP fell to 50 on Tuesday, the lowest level seen since the public offering was closed, according to market

Analysts, following two days of sell-off. Before closure, however, the GMP improved along with the stock market. If the market sentiment is favourable for the following three sessions, market experts anticipate further upside in the GMP.

How does this GMP work?

Market watchers claim that Syrma SGS Technologies’ IPO GMP is currently 55, which suggests that the grey market believes the public offering may list at roughly 275 ($220 + $55), or about 25 per cent more than the equity share price range of $209 to $220. They said that Syrma SGS Technologies’ IPO GMP remained constant at around 55 following the public offering’s close on August 18, 2022, indicating that the grey market is anticipating a significant 25% listing premium from the public offering. However, stock market analysts said that GMP is not a reliable predictor of a public issue’s success or failure. They advised sticking to the fundamentals and focusing on the company’s financials to provide a clear, solid picture of its long-term fundamentals.