(Anjali Shreya, Intern Journalist): There was a big fall in the domestic stock market. On Tuesday, the market saw pressure. Its effect has also been seen in the gray market. In the gray market, the premium on the IPO of CAMS, Chemcon Specialty, and Angel Broking has come down significantly.
Such a situation was also seen during the IPO of SBI Cards. Due to the fear of Coronavirus, the premium on its IPO in the gray market was abandoned overnight.
Analysts believe that if the market continues to fall, the fall in premium may increase. Investors had high hopes from the issue of SBI Cards. But the company’s stock was listed at a discount of 13 percent compared to the issue price of 755.
Independent dealer of unlisted shares in Gujarat, Abhay Doshi informed that the gray market premium of cams is Rs 270-280 from Rs 340-345 level, Chemcon premium Rs 250-255 to Rs 230-235, and Angel Broking premium 50 Has slipped from Rs 55 to Rs 30.
Narottam Dharawat Kaka of Dharwat Securities believes that the real impact of the fall of the market will be seen on Tuesday. He said, “There has not been much difference yet. But if the market continues to fall, investors may not bid aggressively for these three IPOs.”
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