homemarket Newsstocks News

Uma Exports, Veranda Learning shares to debut on BSE, NSE soon; here's what GMP suggests

Uma Exports, Veranda Learning shares to debut on BSE, NSE soon; here's what GMP suggests

By Sandeep Singh  Apr 7, 2022 8:58:18 AM IST (Published)

Grey market premium (GMP): Uma Exports continues to trade at a discount in the grey market -- an unofficial market for unlisted securities -- and Veranda Learning Solutions trades at a premium, dealers say. Stocks of both companies will soon be listed on BSE and NSE.

As the focus once again returns to initial public offerings (IPO) on Dalal Street, all eyes are on grey market premium (GMP) trends. In the grey market - an unofficial market for unlisted securities - Veranda Learning Solutions commanded a premium of Rs 15 but Uma Exports traded at a discount ahead of the listing of their stocks on BSE and NSE, dealers said. (What grey market really is)

Recommended Articles

View All

Shares in Uma Exports, whose IPO was available for bidding from March 28 to March 30 and subscribed an overall 7.7 times, will debut on both stock exchanges on Thursday. Uma shares were available for bidding in a price band of Rs 65-68.
Veranda Learning Solutions' shares will also hit the Street in the coming days. The company's IPO, which was open for bidding from March 29 to March 31 and subscribed 3.5 times, was offered in a price band of Rs 130-137.
DateGMP (in rupees)
Uma ExportsVeranda Learning Solutions
 Apr 6-15
Apr 5-15
Apr 4-15
Apr 1-15
Mar 31-15
Source: IPO Watch
“The recent IPOs being quite smaller in size have failed to boost the interest of participants in the primary market. We should see the interest returning back again when companies with sizable operations tap the market with reasonable valuations as investors have turned cautious on valuations' front," Abhay Doshi, Co-Founder of Unlisted Arena, told CNBCTV18.com.
On Veranda Learning, he said the issue received a dull response from QIB and HNI investors as it looked expensively priced. "The asking rate was almost 25 times the price-to-sales ratio for a loss-making company," according to Doshi, who said he wouldn't be surprised if the IPO listing happens on a flat-to-negative note.
Here's how investors have responded to both IPOs:
CategorySubscription (No. of times the shares offered)
Uma ExportsVeranda Learning Solutions
QIB2.82
NII2.23.9
Retail10.110.8
Overall7.73.5
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!