GMP update: Archean Chemical, Kaynes Technology, Inox Green, Five Star Business & Keystone Realtors

Grey market trends for a couple of concluded IPOs suggested mixed prospects, with Inox Green and Five Star Business Finance quoting at discounts while others such as Archean Chemical, Kaynes Technology and just concluded Keystone Realtors trading with grey market premiums (GMPs) ahead of their listings.  

Archean Chemical, whose IPO ran from November 9 to November 11, was commanding a grey market premium of Rs 80 apiece. The GMP for this issue has stayed in a range of Rs 78-87 in the last couple of days. The Rs 1,462.31 crore IPO, which was subscribed 32.23 times, may list on November 21.

Last heard, Five Star Business Finance IPO, which also ran from November 9 to November 11, commanded a grey market discount of Rs 7 per share. The Rs 1,960 crore IPO, which was sold in the Rs 450-474 price band, went undersubscribed at 70 per cent, but sailed through.

Kaynes Technology IPO, which ran from November 10 to November 14, commanded a GMP of Rs 125 per share. It is lower than Rs 135-138 GMP the unlisted scrip enjoyed two days ago, but higher than the sub-Rs 100 levels that were seen a few days ago. The IPO, which was subscribed 34.16 times, may list on November 22. The price band for the issue was fixed at Rs 559-587. 

The Rs 740 crore IPO Inox Green Energy commanded a grey market discount of Rs 2 apiece. The issue hit a GMP of Rs 9 a few days ago, only to slip into the red. This IPO, which was sold in the Rs 61-65 price band, got 1.55 times subscription.

Meanwhile, last heard, GMP for Keystone Realtors stood at Rs 7 apiece. The Rs 635 crore IP), which ran from November 14 to November 16, got 2.01 times subscription. 

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