June 11, 2024
New Delhi, India
ixigo IPO Day 2
The ixigo IPO, which opened on 10th June 2024, continues to receive a strong response from investors on its second day. Here’s a detailed analysis of the key aspects:
IPO Details
The IPO, valued at ₹740.10 crore, features a price band of ₹88 to ₹93 per equity share. It includes ₹120 crore through fresh issues and ₹620.10 crore through offers for sale (OFS). The shares are set to be listed on both BSE and NSE.
Subscription Status
By 12:57 PM on Day 2, the ixigo IPO had been subscribed 4.82 times overall:
- Retail Investors: 12.59 times
- Non-Institutional Investors (NII): 8.48 times
- Qualified Institutional Buyers (QIB): 0.39 times
This high subscription rate from retail and NII segments highlights strong investor interest, which could lead to significant oversubscription.
Grey Market Premium (GMP)
The grey market premium for ixigo shares remains steady at ₹24, unchanged from the previous day. Despite the volatility on Dalal Street, this steady GMP reflects investor confidence and positive market sentiment towards the IPO.
Market Sentiment
The robust demand from retail and NII investors, coupled with the stable GMP, suggests that the ixigo IPO is poised for potential listing gains. The positive response amid a fluctuating market indicates that investors are optimistic about the company’s prospects.
Conclusion
The ixigo IPO is experiencing substantial interest from the market, particularly from retail and NII investors. The steady grey market premium amidst market volatility further reinforces the positive sentiment, indicating strong potential for significant listing gains.
Disclaimer:
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