Shiprocket IPO Day 2: GMP Hits 35% as Milky Mist Enters Final Bidding Round
Shiprocket's initial public offering enters its second day of bidding with strong grey market interest, while dairy major Milky Mist heads into its final subscription day. Investors are closely watching the grey market premiums (GMP) as a signal for potential listing gains.
Key takeaways
- Shiprocket is commanding a high 35% premium in the grey market on its second day.
- Milky Mist bidding closes today with a steady 15% grey market premium.
- Grey market premiums are indicators of sentiment but not guaranteed listing prices.
- Retail investors should monitor QIB subscription levels for institutional confidence.
Shiprocket's initial public offering enters its second day of bidding with strong grey market interest, while dairy major Milky Mist heads into its final subscription day. Investors are closely watching the grey market premiums (GMP) as a signal for potential listing gains.
The Indian primary market remains buzzy as two major players, logistics tech firm Shiprocket and dairy giant Milky Mist, move through their respective IPO timelines. As of the second day of bidding, Shiprocket is seeing significant traction in the unlisted market, while Milky Mist investors have one final day to place their bids before the issue closes.
Shiprocket IPO: Day 2 Subscription and GMP
Shiprocket, a prominent e-commerce enablement platform, has entered its second day of the bidding process with a Grey Market Premium (GMP) hovering around 35%. This indicates that the market expects the stock to list at a significant premium over its issue price. Retail investors have shown keen interest in the company, which provides logistics and fulfillment services to thousands of D2C brands across India.
- GMP Status: Approximately 35% above the issue price.
- Investor Sentiment: Strong demand from retail and Non-Institutional Investors (NIIs).
- Business Model: Tech-driven logistics aggregator focusing on the booming e-commerce sector.
Milky Mist IPO: Final Call for Investors
Meanwhile, the Milky Mist IPO has reached its final day of bidding. The company, known for its premium dairy products like paneer and curd, has maintained a steady GMP of around 15%. While lower than Shiprocket, the premium suggests a positive debut on the bourses. Analysts suggest that Milky Mist's strong brand recall in South India and its integrated manufacturing model are key strengths for long-term investors.
What Should Retail Investors Do?
When choosing between these two offerings, investors must weigh the high-growth, tech-heavy nature of Shiprocket against the stable, consumer-facing business of Milky Mist. A 35% GMP for Shiprocket suggests higher potential for immediate listing gains, but it also comes with the volatility typical of tech startups. Milky Mist, with a 15% GMP, offers a more traditional valuation play in the FMCG space.
Investors are advised to check the final subscription figures and the Qualified Institutional Buyer (QIB) portion before making a last-minute decision. High QIB subscription often acts as a safety net for retail participants, indicating institutional confidence in the company's fundamentals.
This report is for informational purposes only and does not constitute financial advice. IPO investments are subject to market risks.
Frequently asked questions
What is the current GMP for Shiprocket IPO?
As of Day 2 of the bidding process, Shiprocket is trading at a Grey Market Premium (GMP) of approximately 35%.
When is the last date to apply for Milky Mist IPO?
Today is the final day for investors to subscribe to the Milky Mist IPO.
Which IPO has a higher listing gain potential based on GMP?
Currently, Shiprocket has a higher potential for listing gains with a 35% GMP compared to Milky Mist's 15%.