Investors tracking the primary market are facing the deadline today, September 1, as subscriptions close for both Priority Jewels IPO and ESDS Software Solution IPO. Both public issues launched their bidding windows on August 28. While both offerings have drawn varied attention from market participants, ESDS Software Solution is commanding a substantially higher premium in the grey market ahead of the close.
Issue Structure and Price Band Details
The two offerings differ significantly in terms of valuation and total scale. The Priority Jewels IPO consists of an entirely fresh issue worth Rs 91.50 crore. The company fixed its equity share price band in the range of Rs 190 to Rs 200 per share.
In contrast, the ESDS Software Solution IPO is a significantly larger fundraising effort, looking to raise Rs 720 crore completely through a fresh issue of shares. Its price band has been established between Rs 408 and Rs 429 per share.
Grey Market Premium and Expected Listing Performance
Unofficial market activity reflects distinct sentiment for each company. The grey market premium (GMP) for ESDS Software Solution has expanded sharply. According to market trackers, its latest GMP stands at Rs 270. Based on the upper price limit of Rs 429, the estimated listing price works out to Rs 699, indicating a potential listing margin of 62.94 percent.
Meanwhile, the Priority Jewels IPO has experienced fluctuations in unofficial trade. After reaching approximately Rs 45 until yesterday, its premium cooled down to around Rs 10 today. Against its top price band of Rs 200, the projected opening price is Rs 210, reflecting an anticipated gain of about 5 percent. Market analysts note that grey market premiums are indicative and subject to change before trading begins on exchanges.
Allotment and Listing Timeline
Both companies share an identical post-issue calendar following the subscription closure.
- September 1: Final day for placing bids across categories.
- September 2: Finalization of the basis of share allotment.
- September 3: Initiation of refunds for unallotted applicants and credit of shares to demat accounts.
- September 4: Formal stock market debut on both the BSE and NSE.
