IPO of Venus Pipes: Following the close of three days of subscription to Venus Pipes & Tubes Limited’s public offering, all eyes are now on the Venus Pipes IPO allotment date, which is most likely May 19, 2022. The gray market has also become more responsive to the public issuance of value. 165.42 crores. According to market watchers, Venus Pipes stock price is quoted at a premium of 22 on the gray market today.

Venus Pipes IPO GMP today

Market watchers said the gray market premium (GMP) of Venus Pipes IPO today is 22, which is 8 less than his gray market bounty from yesterday 30. They said that Venus Pipes IPO GMP fell on the second day in a row as it was at 35 Thursday. Market watchers said the Venus Pipes GMP IPO was down due to weak secondary market sentiment, with NSE Nifty losing nearly 4% in the past week.

What does this GMP IPO of Venus Pipes mean?

Market watchers said Venus Pipes IPO GMP today is 22, which means that the gray market expects the IPO of Venus Pipes to take place around 348 ( 326 + 22), which is nearly 7% above its price range of 310 to 326 per share.

However, stock market experts have said that GMP is not an ideal indicator of the success or failure of an IPO. They said the gray market premium is unofficial data, which is also unregulated. Thus, one should look at the company’s balance sheet instead of the gray market sentiments, because the company’s finances give a better and concrete picture of the company.

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