The grey market premium (GMP) for three closely watched initial public offerings—Dhoot Transmission, Molbio Diagnostics and Milky Mist Dairy Food—is attracting investor attention as subscription activity continues.
Based on the latest GMP figures available on August 11, Dhoot Transmission is leading the three IPOs with an implied listing gain of more than 28% over its upper price band.
Molbio Diagnostics and Milky Mist Dairy Food are both showing potential listing gains of as much as 15%, according to the latest grey market trends.
But to investors, GMP is unofficial and not a sure thing for the actual listing price. The grey market can change quickly depending on demand, market sentiment and subscription levels.
Dhoot Transmission IPO GMP Today
Dhoot Transmission is currently leading the GMP race among the three issues.
The latest GMP is around ₹246, while the upper end of the IPO price band is ₹871 per share.
Thus the implied listing price is about ₹1,117 per share.
This would mean a listing gain of about 28.24% over the upper issue price.
The strong GMP is complemented by healthy subscription demand. Recent BSE data shows that the issue was subscribed 3.22 times by 3:15 p.m. on August 11.
Dhoot Transmission IPO Details
Dhoot Transmission IPO is a book-built issue worth approximately ₹3,066.89 crore.
The issue comprises:
- Fresh issue: ₹1,400 crore
- Offer for sale: ₹1,666.89 crore.
- Price range: ₹829-₹871 per share.
- Lot size: 17 shares.
- Minimum retail investment: ₹14,807 at the upper price.
- Expected allotment: August 13.
- Registrar: KFin Technologies.
- Lead manager: Axis Capital.
Dhoot Transmission was founded in 1998 and is in the electrical and electronics business and manufactures wiring harnesses and electrical distribution systems.
Molbio Diagnostics IPO GMP Today
Molbio Diagnostics is also experiencing a positive grey-market trend.
We estimate the GMP to be around ₹122, and the upper price band is around ₹807 per share.
Based on those figures, the listing price is around ₹929, which is a gain of around 15.12% from the upper issue price.
The IPO has been subscribed 2.62 times, according to BSE data as of 3:15 p.m. on August 11.
Molbio Diagnostics IPO Key Details
The Molbio Diagnostics IPO is a book-built issue of around ₹939.7 crore.
The issue consists of:
- Fresh issue: ₹200 crore
- Offer for sale: ₹739.7 crore.
- Price band: ₹768-₹807.
- Lot size: 18 shares.
- Minimum retail investment: ₹14,526 at the upper price.
- Closing date: August 12.
- Expected allotment: August 13.
- Lead manager: Kotak Mahindra Capital.
- Registrar: KFin Technologies
Founded in 2000, Molbio Diagnostics provides portable molecular diagnostic solutions based on its Truenat platform.
Milky Mist IPO GMP Today
Milky Mist Dairy Food is the latest entrant among the three IPOs.
The issue opened for subscription on August 11, with the latest GMP reported to be around ₹21.
The upper price band is ₹140 per share, resulting in an indicative listing price of around ₹161 based on the GMP.
This would imply a listing premium of 15% to the upper issue price.
The IPO had been subscribed 0.64 times as of 3:15 p.m. on August 11, according to BSE data.
Milky Mist IPO Details
The Milky Mist Dairy Food IPO is a book-built issue worth about ₹1,553 crore.
The issue comprises:
- Fresh issue: ₹1,428 crore
- Offer for sale: ₹125 crore.
- Price band: From ₹133 to ₹140.
- Lot size: 107 shares.
- Minimum retail investment: ₹14,980 at the upper price.
- Expected allotment: August 14.
- Lead manager: JM Financial.
- Registrar: KFin Technologies.
IPO GMP Comparison
Based on the latest figures provided, currently Dhoot Transmission has the strongest implied listing premium.
IPO GMP Upper Price Implied Listing Price Indicative Gain.
- Dhoot Transmission ₹246 ₹871 ₹1,117 28.24%.
- Molbio Diagnostics ₹122 ₹807 ₹929 15.12%.
- Milky Mist Dairy Food ₹21 ₹140 ₹161 15%
Dhoot Transmission has a clear lead in the grey market, while Molbio Diagnostics and Milky Mist are showing broadly similar indicative premiums.
Subscription Demand Also Matters
GMP is only one of the factors investors are looking to track before an IPO listing.
Subscription numbers are another indication of investor demand. Dhoot Transmission and Molbio Diagnostics had already crossed their total issue sizes based on the latest subscription data, while Milky Mist was still below full subscription during the period.
However, subscription figures can change dramatically before an issue closes.
Investors should also check the company’s financial performance, valuation, business model, debt levels, IPO objectives and the proportion of fresh issue versus OFS before making an investment decision.
When will IPOs be on the list?
According to the schedules given, Molbio Diagnostics and Dhoot Transmission are expected to list on August 17, subject to the completion of the allotment and listing process.
Milky Mist Dairy Food will be launched on the market on August 18.
The last exchanges and company announcements should be followed to confirm the date of listing.
GMP Is Not a Guarantee of Listing Gains
The strong GMP numbers may look attractive, but investors should not treat them as assured returns.
Grey-market premiums are unofficial market indicators and can move sharply before listing. The actual listing price can be higher or lower than the implied price calculated using GMP.
Market conditions, institutional demand, subscription trends and general sentiment will all be important to the outcome.
But for investors tracking the IPO market on August 11, Dhoot Transmission is currently the best GMP performer, while Molbio Diagnostics and Milky Mist are showing relatively moderate but still positive implied listing premiums.
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