Three mainboard IPOs are competing for investor attention, but the grey market is already showing a clear pecking order. Moneyview is commanding a GMP of around 39%, Orient Cables is trading at a 29% premium, while A-One Steels is at about 10%. The gap in GMPs comes even as brokerages have recommended subscribing to all three issues.
According to analysts, Moneyview offers high growth in digital lending at a relatively moderate earnings multiple, Orient Cables is backed by strong structural demand but comes at a much richer valuation; A-One Steels is pitched primarily as a longer-term cyclical recovery and deleveraging play.
