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The Economic Times

Ritesh Presswala

MV Electrosystems IPO Day 2: GMP jumps, indicating 30% listing gains; issue subscribed 3.64 times. Apply or skip?

MV Electrosystems GMP IPO Swastika Investmart

MV Electrosystems IPO entered its second day of bidding, with subscription momentum remaining robust and the grey market premium (GMP) rising further. The IPO’s GMP has climbed to around Rs 125 per share, up from Rs 105 a day earlier, indicating an estimated 30% listing premium over the upper issue price of Rs 425.

On Day 1, the IPO was subscribed 3.64 times against the 39.87 lakh shares on offer. The retail investor portion was subscribed 11.92 times against the 7.24 lakh shares reserved for retail bidders.

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