Hexaware Technologies shares trade at 1% GMP ahead of IPO opening tomorrow
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The grey market premium (GMP) of Hexaware Technologies stands at 1%, indicating a premium of Rs 4-5 per share ahead of its Rs 8,750-crore initial public offering (IPO) opening tomorrow. The said GMP indicates a flat listing of the company’s shares, which are likely to be listed on the bourses on February 19. GMP can be an indicator of the demand of the company’s shares. A higher GMP suggests strong demand for the IPO, while a negative or low GMP indicates weaker demand. However, it should be noted that GMP is only an indicator and does not guarantee the stock’s robust or weak demand depending on its demand in the unlisted market. Investors merely use GMP to estimate the potential listing gains or losses and it changes based on market sentiment, subscription status, and overall investor interest. Hexaware Technologies IPO price band Hexaware Technologies has set a price band of Rs 674-708 per share for its upcoming IPO. Retail investors ca...