Platinum Industries IPO: Eagerly Awaited Listing Date

After the eagerly anticipated announcement of the Platinum Industries IPO allotment status, investors are now eagerly awaiting the listing date for the IPO. With the implementation of the T 3 rule for listing on December 1st, 2023, it is expected that the Platinum Industries IPO will be listed on March 5th, 2024, which falls on Tuesday next week.

Grey Market Sentiments Surge

Following the announcement of the Platinum Industries IPO allotment status, the grey market has witnessed a significant surge in bullish sentiments towards the public issue.

Market observers note that the Grey Market Premium (GMP) for the Platinum Industries IPO today stands at Rs.102 per share. This figure represents an increase of Rs.22 from Friday's GMP of Rs.80.

Factors Driving Grey Market Sentiments

The rise in grey market sentiments can be attributed to several factors. Firstly, the strong response received by the Platinum Industries IPO from primary market investors has bolstered confidence in its performance. Additionally, the robust bull trend observed on Dalal Street has further fueled optimism in the market.

Expectations for Listing Gain

Market observers predict that based on the current Grey Market Premium of Rs.102 per share, the listing price for the Platinum Industries IPO could be around Rs.273 (Rs.171 Rs.102). This projection indicates a potential listing gain of approximately 60 percent higher than the IPO price band of Rs.162 to Rs.171 per equity share.

Caution Advised Amidst Non-Regulated Market

While the Grey Market Premium serves as an indicator of market sentiment, investors are advised to exercise caution. The grey market is non-regulated and may not accurately reflect the financial fundamentals of the company.

Read also: Sensex and Nifty50 Reach Record Highs in Friday’s Market Surge

Investors are encouraged to adhere to their initial investment convictions and avoid making decisions solely based on grey market fluctuations.

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