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The Economic Times
The Economic Times
Business
Ritesh Presswala

Veegaland Developers IPO Day 2: GMP signals 18% listing gains — Should you subscribe?

GMP IPO

The Rs 210-crore Veegaland Developers IPO has entered its second day of bidding, with investors having a three-day window to submit their bids. The IPO’s grey market premium (GMP) is currently hovering around 18%, indicating the possibility of a decent listing gain. However, investors should note that GMP is an unofficial market indicator and can fluctuate before the stock makes its market debut.

On Day 1, the issue was subscribed 62% overall, against 1.13 crore shares on offer. Retail Individual Investors (RIIs) subscribed to 82% of their reserved portion, with 56.53 lakh shares on offer.

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