Investors awaiting the listing of Jyoti CNC Automation IPO are anticipating the event, which is expected to take place on January 16, 2024. The implementation of T+3 listing rules, mandated from December 1, 2023, implies that the Jyoti CNC Automation share price is likely to debut on the Indian stock market tomorrow.
Following the allotment of shares in the Jyoti CNC Automation IPO, market sentiment in the grey market has experienced a decline over recent sessions. Initially trading at a premium of ₹52 during the weekend, the current grey market premium (GMP) for Jyoti CNC Automation shares stands at ₹39, according to market observers.
As per stock market analysts, the decrease in Jyoti CNC Automation IPO GMP in recent sessions, despite positive sentiments prevailing on Dalal Street, is viewed as a rebalancing of the share price in the unlisted stock market.
The Grey Market Premium (GMP) of ₹39 today implies that Jyoti CNC Automation’s share price may open at around ₹370 per share (₹331 + ₹39), representing a potential 12 percent increase from the IPO price band of ₹315 to ₹331 per equity share. Therefore, the grey market is signaling an expected listing price for Jyoti CNC Automation’s IPO that is approximately 12 percent higher than the offered price band.
However, financial experts caution that the grey market is not a regulated or ideal indicator for predicting listing gains from an IPO. It operates in a non-regulated and entirely speculative environment. Therefore, investors are advised to rely on a thorough analysis of the company’s financials and fundamentals rather than solely on grey market sentiments.
