Kasturi Metal Composite shares to list today. Here's what GMP indicates ahead of debut
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The shares of Kasturi Metal Composite are heading for listing with a grey market premium (GMP) of 0%, indicating muted listing expectations even as the issue saw strong demand during the subscription period. The Rs 18 crore book-built IPO, which is entirely a fresh issue, closed on January 29 and is scheduled to list on the BSE SME platform on February 3. The price band for the issue was fixed at Rs 61–64 per share, with the final issue price set at Rs 64. At this price, the company is valued at a pre-IPO market cap of about Rs 66.5 crore. In the grey market, which often acts as an informal indicator of listing sentiment, Kasturi Metal Composite shares are currently trading at par with the issue price. A zero GMP suggests that traders are not pricing in any immediate listing gains, pointing to expectations of a flat debut. This comes despite the IPO receiving a robust overall subscription of 17.75 times. The non-institutional investor seg...