According to market observers, shares of Shriram Properties are available at a premium of ₹15 in grey market today, which is around 10 per cent higher from upper price band of ₹118 per equity share.
They said that for the last 4 days, Shriram Properties IPO grey market price has been oscillating in between ₹14 to ₹20, which reflects that allottees may have marginal gain of around 10 per cent on Shriram Properties IPO listing date i.e.
According to market observers, grey market premium is an unofficial data that reflects about the probable listing gain expected from an IPO.
However, stock market experts said that GMP is not the right way of calculating expecting listing gain from an IPO as grey market date is completely unofficial and non-regulated.
Analyst at Swastika Investmart Ltd said, “Despite strong brand recognition, the company has suffered losses during the COVID, when real estate and housing were booming.
Shriram Properties is a part of the Shriram Group and is one of the leading residential real estate development companies in South India.