Manika Plastech IPO drew a strong response from investors on the third day of bidding, with the issue subscribed 28.14 times overall, according to NSE data. The issue currently commands a grey market premium (GMP) of 7%, down sharply from the earlier premium of 26%. At the prevailing GMP, the IPO could potentially see a positive listing gain. However, grey market premiums are unofficial indicators and can fluctuate before shares are listed.
On the second day of bidding, the issue was subscribed 8.30 times overall. The retail investor segment witnessed stronger demand, with the portion subscribed 11.45 times against the 1.07 crore shares reserved for retail investors.
