Money Spinners! Track These 3 SME IPOs with Over 100% GMP

India IPO

Updated Jun 21, 2024

The Dindigul Farm Product IPO opened for subscription today and has already been subscribed over three times. Its shares are trading at a Rs 74 premium in the unlisted market, compared to an offer price of Rs 54, indicating a potential listing gain of nearly 137% if current trends continue.

Money Spinners! Track These 3 SME IPOs with Over 100% GMP

The SME IPO market is buzzing, with eight issues set to launch in the next five days. Among these, two public offers are commanding a grey market premium (GMP) of 100% or more.

Dindigul Farm Product's IPO, which opened today, is seeing high demand in the unlisted market, suggesting multibagger listing gains for investors. Other IPOs fetching over 100% premiums include Medicamen Organics and Shivalic Power Control. A high GMP indicates strong market sentiment for the IPO, suggesting the shares may perform well on listing day. However, GMPs are volatile and can change rapidly.

Dindigul Farm Product

Dindigul Farm Product's IPO opened today and has already been subscribed over three times. Its shares are trading at a Rs 74 premium in the unlisted market, compared to the offer price of Rs 54, indicating a potential 137% listing gain. The IPO is a fresh equity issue of 64 lakh shares, aiming to raise around Rs 35 crore.

Medicamen Organics

The Medicamen Organics IPO opens for subscription on June 21 and closes on June 25. Its shares are commanding a GMP of Rs 60 in the grey market, compared to an issue price of Rs 34, suggesting the potential for more than doubling investors' wealth on debut. The IPO is a fresh equity sale of 31 lakh shares, aiming to raise around Rs 10.54 crore.

Shivalic Power Control

The Shivalic Power Control IPO starts on June 24 and closes on June 26. Ahead of the issue opening, its shares are fetching a Rs 155 premium in the unlisted market, compared to an upper-end IPO price of Rs 100. This indicates potential gains of 155% if trends continue. The IPO involves a fresh equity sale of 64.32 lakh shares.

Other SME IPOs

The Divine Power Energy IPO, opening on June 25, is currently showing a premium of 75% over its issue price of Rs 40. Meanwhile, the shares of Petro Carbon and Akiko Global, also launching their issues on June 25, are trading with a premium of just over 20% in the unlisted market.

A grey market premium provides investors with an idea of how a stock may perform on its listing day. A premium of double the issue price suggests that shares could deliver multibagger returns upon debut. However, GMPs are merely indicators of market sentiment and can change rapidly.