The IPO of Riyaasat Lifestyle, an Ahmedabad-based ethnic wear retailer, will open for subscription on Thursday, with the issue priced in a band of Rs 102 to Rs 108 per share. The IPO will remain open until June 22, with allotment expected on June 23 and listing on the BSE SME platform slated for June 25.
The grey market premium (GMP) for the issue stood at zero ahead of the opening, indicating that unofficial market activity is pricing the stock in line with the upper end of its issue band, with no listing pop currently being anticipated by grey market participants. A flat GMP at the open of a book-built SME issue typically points to a cautious or wait-and-watch sentiment among retail investors, rather than the strong pre-listing demand often seen in heavily subscribed small-cap offers.
