The Indian primary market is set to see eight new initial public offerings (IPOs) open for investors next week, comprising six mainboard issues and two SME issues. The mainboard offerings include Horizon Industrial Parks, Lalithaa Jewellery Mart, Sankesh Jewellers, Sunshine Pictures, Gaja Alternative Asset Management and Tempsens Instruments (India), while Mopshop Distribution and Dhanwel Hybrid Seeds are part of the SME segment.
Horizon Industrial Parks is scheduled to open its IPO from August 17 to August 19. The company plans to raise ₹2,600 crore through the issue, with a price band of ₹57 to ₹60 per share.
Grey Market Premium Data
According to grey market premium (GMP) data available as of August 15, Sunshine Pictures has the highest reported GMP at around ₹360. Lalithaa Jewellery Mart follows with a GMP of approximately ₹201, while Gaja Alternative Asset Management has a GMP of around ₹160.
Skyways Air has a reported GMP of approximately ₹138. Horizon Industrial Parks has a GMP of around ₹60, while Sankesh Jewellers has a GMP of approximately ₹93. No GMP was reported as available for Tempsens Instruments at that time.
Among the SME issues, Mopshop Distribution has a reported GMP of around ₹138, while GMP was not available for Dhanwel Hybrid Seeds.
GMP figures are derived from the informal market and can change rapidly. They are not considered a definitive indicator of an IPO's potential listing price or performance.
Horizon Industrial Parks Issue Structure
The entire ₹2,600 crore Horizon Industrial Parks issue comprises a fresh issue. According to the company's documents, a substantial portion of the proceeds raised through the IPO is to be used for debt repayment. The company develops and operates industrial and logistics parks across different parts of the country.
Factors to Consider Before an IPO Application
Grey Market Premium reflects informal market sentiment toward an IPO, but an investment decision should not be based solely on GMP. Investors also need to consider the company's financial position, business model, debt, valuation, issue size and the utilisation of funds raised through the IPO.
GMP is not an official or regulated figure and can change with market conditions, demand and IPO subscription activity. Investors should read the relevant company's Red Herring Prospectus (RHP) and other official documents before applying for an issue.
