Muthoot Microfin, Motisons Jewellers, Suraj Estate: Here's what grey market signal for their debuts

Domestic equity markets will witness three debuts on Tuesday as Dalal Street kicks off the truncated last week of the year 2023. Shares of Muthoot Microfin, Motisons Jewellers and Suraj Estate Developers will get listed at the bourses on Tuesday, December 26, delivering negligible to hefty listing pop to the investors, if one goes by the grey market premia for them.

Muthoot Microfin
Ahead of its listing, Muthoot Microfin was commanding a grey market premium (GMP) of Rs 30-35, suggesting about 10-12 per cent listing pop for the investors, compared to its issue price of Rs 291 apiece. However, the premium in the unofficial market was in three digits ahead of the bidding process.

Muthoot Microfin sold its IPO in the price band of Rs 277-291 per share with a lot size of 51 shares between December 18 to December 20. The company raised a little more than 960 crore from its IPO. The issue was overall subscribed 11.52 times during the three day bidding process.

Also read: Muthoot Microfin IPO allotment: Check application status, latest GMP & listing date

Muthoot Microfin, a subsidiary of the Muthoot Pappachan Group, specializes in providing micro-loans to female customers, with a particular emphasis on rural areas. It provides group loans for livelihood solutions, individual loans, life betterment solutions; health and hygiene loans; secured loans in the form of gold loans and more.

Suraj Estate Developers
Suraj Estate Developers' grey market premium (GMP) stood at Rs 15-20 ahead of its listing, suggesting a mild listing gain of 4-6 per cent for the investors, compared to its issue price of Rs 360 apiece. However, the premium in the unofficial market was at Rs 70 before the bidding.

Suraj Estate Developers's IPO was open between December 18 and December 20 as the real-estate player offered its shares in the price band of Rs 340-360 per share with a lot size of 41 shares. The company raised about 400 crore from its initial stake sale, which was overall subscribed 15.59 times during the bidding process.

Established in 1986, Suraj Estates Developers specializes in the development of residential and commercial real estate in the South-Central Mumbai region. Notably, the company relies entirely on third-party contractors for the construction services of its projects, as it does not provide any in-house construction services.

Also read: Suraj Estate Developers IPO allotment: Check application status, latest GMP and listing date

Motisons Jewellers
Grey market premium (GMP) for Motisons Jewellers despite a sharp fall remained firm. It commanded a grey market premium of Rs 66-70 ahead of its debut, suggesting a listing pop of 120-130 per cent to investors against its issue price of Rs 55 per share. However, the premium in the unofficial market was 110 apiece on day one of bidding, suggesting a listing pop of 200 per cent.

Motisons Jewellers IPO was open between December 18 and December 20 as the jewellery player offered its shares in the price band of Rs 52-55 per share with a lot size of 250 shares. The company raised a little more than Rs 151  crore from its initial stake sale, which was overall subscribed  a whopping 159.61 times.

Motisons Jewellers, established in October 1997, specializes in the sale of gold, diamond, and kundan jewellery, along with a diverse range of other jewellery products. The company offers an extensive product line, including traditional, modern, and combination designs across various jewellery categories. Its flagship store, Motisons Tower, is located in Jaipur, Rajasthan.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)