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Ethos Listing: What GMP Suggests?
As per the latest GMP updated with topsharebrokers.com, the Ethos GMP has been commanding a negative price in the grey market or the market for unlisted securities of Rs. 3. As per the BSE, the company's shares will be admitted to dealings on the exchange in the 'B' list of securities in a SPOS.
Despite the negative trend for the stock price of Ethos, the company as per market observers may see listing with gains.
The company's issue price has been at Rs. 878 and looking at the current GMP, the current listing can be at Rs. 875 per share
Anticipating a positive listing, Ravi Singhal, Vice Chairman at GCL Securities is quoted as saying in a leading dailies, "Shares of Ethos Limited may have a positive listing on Monday and in bear case it may list around ₹885 to ₹900 levels whereas in bulls case, Ethos shares may list around ₹920 to ₹930 apiece levels."
Ravi Singh, Vice President and Head of Research at Share India in a leading dailies Ethos issue price seems expensive if we compare it with the company's performance in the past year. The prevailing market conditions and valuations suggest that the IPO may list around the issue price or at a minor discount. Investors may book their positions and wait to re-enter at lower levels for short term gains or till the market sentiments stabilize." He said that much will depend upon the kind of opening stock market gets on Monday.
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