RateGain IPO: Subscription for public issue worth ₹1,335.74 crore is closed and bidders are anxiously waiting for announcement of share allocation, which is expected on 14th December 2021. In 3-day bidding from 7th to 9th December 2021, the public offer has been subscribed 17.41 times. The public issue has been subscribed 8.08 times in the retail category, 8.42 times in the QIB category and 42.04 times in the NII category. According to market observers, RateGain shares are available at a premium of ₹45 in the grey market today.
RateGain IPO GMP
Market observers said that RateGain IPO GMP today is ₹45, which is ₹5 lower from its Friday grey market premium (GMP) of ₹50. They said that RateGain IPO GMP has been nosediving for last three days. It has come down from ₹80 to ₹45 in last three days, indicating weak sentiment in regard to the public issue ahead of share allotment date, which is most likely on 14th December 2021.
What this GMP means?
According to market observers, GMP of a public issue means expected listing gain by grey market. As RateGain IPO GMP today is ₹45, it means grey market is expecting that shares of the company may list around ₹470 ( ₹425 + ₹45), which is around 10 per cent higher from its price band of ₹405 to ₹425 per equity share.
RateGain IPO other details
RateGain IPO allotment date is most likely on 14th December 2021. Initiation of refund would begin on 15th December 2021 whereas credit of shares in the Demat Account of allottees is expected on 16th December 2021. Most likely RateGain IPO listing date is 17th December 2021.
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