Rainbow Children’s IPO: What GMP reflects as focus shifts on listing date
Rainbow Children’s Medicare IPO: After announcement of share allocation, allottees and market observers are anxiously waiting for Rainbow Children’s Medicare IPO listing date, which is most likely on 10th May 2022. Amid nosediving secondary market, both allottees and company management would be busy calculating the expected premium they can expect when the stock lists on 10th May 2022 on NSE and BSE. According to market observers, shares of Rainbow Children’s Medicare Limited have dipped further as bears continue to dictate secondary market. They said that Rainbow Children’s Medicare shares are available at a premium of ₹13 in grey market today.
Rainbow Children’s Medicare IPO GMP
As per the market observers, Rainbow Children’s Medicare IPO GMP today is ₹13, which is more than 50 per cent lower from its yesterday evening grey market premium. Rainbow Children’s Medicare IPO GMP on yesterday evening was ₹30 that means the grey market price of this public issue has tumbled by ₹17. They said that such dip in Rainbow Children’s Medicare IPO GMP can be attributed to the moderate response by investors and negative stock market sentiments. They said that despite negative sentiments at secondary markets, Rainbow Children’s Medicare share price in grey market has been able to remain in positive territory that means allottees can expect par listing of Rainbow Children’s Medicare shares on Tuesday.
What this GMP mean
As Rainbow Children’s Medicare IPO GMP today is ₹13, it means grey market is expecting Rainbow Children’s Medicare IPO listing at around ₹555 ( ₹542 + ₹13), which is at par with the price band of the public issue.
So, amid bears dictating stock market, grey market is signaling par listing of Rainbow Children’s Medicare IPO. This listing premium may go upward if there is trend reversal at secondary market on Monday.
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