Anand Rathi and Seshaasai Technologies IPOs Open with Promising Grey Market Premiums
Two IPOs hit the market: Anand Rathi Share & Stock Brokers and Seshaasai Technologies. Anand Rathi's Rs 745 crore IPO is priced at Rs 414 per share, with a grey market premium of Rs 32. Seshaasai Technologies' Rs 813.07 crore IPO is priced at Rs 423 per share, showing a grey market premium of Rs 85. Both IPOs close on September 25, with tentative listing on September 30 on BSE and NSE. As of 12:12 p.m., Anand Rathi's IPO was subscribed 0.17 times, while Seshaasai Technologies' was subscribed 0.35 times.
*this image is generated using AI for illustrative purposes only.
Two initial public offerings (IPOs) hit the market, both showing positive grey market premiums on their opening day. Anand Rathi Share & Stock Brokers and Seshaasai Technologies have garnered investor attention with their respective offerings.
Anand Rathi Share & Stock Brokers IPO
Anand Rathi Share & Stock Brokers, a prominent financial services provider, launched its IPO with a fresh issue of Rs 745.00 crore. The company has set the upper price band at Rs 414.00 per share. As of 12:12 p.m. on the opening day, the IPO was subscribed 0.17 times.
In the grey market, Anand Rathi's shares are commanding a premium of Rs 32.00, indicating an estimated listing price of Rs 446.00. This suggests potential gains of 7.73% for investors if the grey market sentiment holds.
Seshaasai Technologies IPO
Seshaasai Technologies, specializing in payment solutions and technology services for the Banking, Financial Services, and Insurance (BFSI) sector, also opened its IPO for subscription. The company's offering includes both fresh shares and an offer-for-sale component, totaling Rs 813.07 crore. The upper price band for Seshaasai Technologies' IPO is set at Rs 423.00 per share.
The grey market is showing even stronger enthusiasm for Seshaasai Technologies, with a premium of Rs 85.00. This translates to an estimated listing price of Rs 508.00, implying potential gains of 20.09% based on the grey market indicators. As of the same time, the IPO was subscribed 0.35 times.
IPO Details and Schedule
Both IPOs are scheduled to close on September 25. Investors and market watchers can look forward to the tentative listing date of September 30 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Subscription Status
| Company | Subscription Rate (as of 12:12 p.m.) |
|---|---|
| Anand Rathi Share & Stock Brokers | 0.17 times |
| Seshaasai Technologies | 0.35 times |
Grey Market Premium and Potential Gains
| Company | Upper Price Band | Grey Market Premium | Estimated Listing Price | Potential Gains |
|---|---|---|---|---|
| Anand Rathi | 414.00 | 32.00 | 446.00 | 7.73% |
| Seshaasai Technologies | 423.00 | 85.00 | 508.00 | 20.09% |
The positive grey market premiums for both IPOs suggest investor optimism, but it's important to note that grey market sentiments are unofficial and can be subject to change. Investors are advised to conduct thorough research and consider their risk appetite before making investment decisions.
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