The listing date of the Muthoot Microfin IPO has been fixed as December 26, with a slight rise in its GMP over the weekend.
The initial public offering (IPO) of Muthoot Microfin was launched on December 18, and the listing date of the IPO has been set as December 26, Tuesday. The share price of Muthoot Microfin will be listed on the BSE and NSE tomorrow.
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The listing of Muthoot Microfin will be done in Group B of the securities, and the listing will be done in a special pre-open session on Tuesday. The Muthoot Microfin IPO opened on December 18, and closed on December 20.
The issue of Muthoot Micofin was subscribed over 12 times of the total issue size, showing great promise for the share price of the company. The GMP of the firm has also grown as compared to last week.
BSE said in a notice, “Trading Members of the Exchange are hereby informed that effective from Tuesday, December 26, 2023, the equity shares of Muthoot Microfin Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.”
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Muthoot Microfin IPO: GMP today
A day ahead of the listing of the Muthoot Microfin share price, the grey market premium of the company has shows a small growth. On Monday, the GMP has been recorded at ₹31, while last week, the premium was ₹29.
This means that the GMP is around 11 per cent of the price band of the Muthoot Microgfin IPO, which was set at ₹279 to ₹291. Showing a small but significant growth, it means that the listing price will be beyond ₹300 on Tuesday.
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Muthoot Microfin IPO: Share price predictions
As the GMP of Muthoot Microfin has been recorded at ₹31 on Monday, a day before the listing of the company, it is expected that the share price of the company tomorrow will be ₹322 ( ₹291 + ₹31).
The share price is expected to be around 11 per cent higher than the IPO price band, showing good returns for the investors. However, it must be noted that grey market premium is not a true indicator of the returns expected from an IPO.
