Kolkata: The bidding windows of Corona Remedies IPO and Wakefit Innovations IPO opened on Dec 8 and will close today, Dec 10. However, the two public issues had a vastly different experiences with subscriptions and Grey Market Premium levels on the first two days of the application process. Wakefit Innovations IPO is designed to raise Rs 1288.89 crore through a combination of a fresh issue of shares to rise Rs 377.18 crore and an OFS part to mobilise Rs 911.71 crore.
Corona Remedies IPO, Wakefit Innovations IPO subscription levels
The bids that Corona Remedies IPO, Wakefit Innovations IPO have attracted in the first two days of the bidding windows are vastly different. Till Dec 9, Corona Remedies IPO was subscribed 9.96 times overall — 6.90 times in the retail category, 1.76 times in QIB (Ex Anchor) category and 28.37 times in the NII.
On the other hand, Wakefit Innovations IPO subscribed only 0.40 times overall — 1.82 times in the retail category, 0.00 times in QIB (Ex Anchor) category and 0.25 times in the NII category. One thing that must be mentioned is the difference in the QIB (Qualified Institutional Buyers) subscription level. QIBs are organisations such as banks, MFs and insurance companies that have the big money to invest and the analytical skill pool to analyse a public issue and business prospects fo a company threadbare before taking the investment decision.
Corona Remedies IPO, Wakefit Innovations IPO GMP
As recorded by investorgain, Corona Remedies IPO GMP stood at Rs 270 at the end of Dec 9. At this level it signaled a listing price of Rs 1332 and a listing gain of 25.42%. On the other hand, Wakefit Innovations IPO GMP stood at Rs 2 at the end of Dec 9, investorgain data show. With the price band of Rs 195, the shares could list at Rs 197 and the listing gain of 1.03%.
However, it must be remembered that GMP or Grey Market Premium is an unofficial indicator that can change rapidly with time and does not guarantee any listing gain (or loss).
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