Two initial public offers (IPOs) are due to open next week, with a total size of Rs 7,868 crore. One of these IPOs is from Star Health Insurance and the other is Tega Industries.
Star Health Insurance IPO
The IPO of Star Health Insurance is about Rs 7,249 crore, which will open for subscription on November 30. The bidding for the IPO can be done till December 2. The price band of the IPO has been fixed at Rs 870 to Rs 900. Investors will be able to bid in lots for the IPO of Star Health Insurance and there will be 16 shares of the company in one lot. The company’s shares will be listed on both BSE and NSE. The tentative date for listing of this IPO is December 10.
– Star Health Insurance GMP
According to experts, the shares of Star Health Insurance are currently trading at a premium of around Rs 30 over its IPO issue price in the gray market. The GMP of Star Health Insurance is continuously decreasing in the gray market.
Tega Industries IPO
The IPO of Tega Industries is around Rs 619.23 crore and will open for investors on December 1. The last date for bidding for the IPO is December 3. The price band of the IPO has been fixed at Rs 443 to 453. This IPO is purely offer-for-sale (OFS), i.e. through this issue the promoters and shareholders of the company will offer their stake for sale. Investors will be able to bid in lots for the company’s IPO and there will be 33 shares of the company in one lot. Tega Industries shares will be listed on both BSE and NSE.
– Tega Industries IPO GMP
The GMP (Grey Market Premium) of Tega Industries’ IPO is Rs 240 today i.e. on Saturday. This means that the gray market is expecting Tega Industries shares to be priced at Rs 693 (₹453 + ₹240), which is 50 per cent higher than the issue price of the IPO.