Dodla Dairy opened for trade at Rs. 550 on the NSE against issue price of Rs 428, while it listed with a 23.36 percent premium at Rs 528 on the Bombay Stock Exchange.
In line with the overall strength in the market and grey market premium that these scrips commanded there were expectations of a robust listing. The grey market premium (GMP) in the unlisted market suggests a 15-20% gain for the two scrips on listing.
As per experts, KIMS Hospital is a scrip to bet on for long term gains, while Dodla Dairy is for the listing gains. The Rs. 909 crore IPO of Dodla Dairy was subscribed 45.62 times. The company sold its shares in the price range of Rs. 421-Rs. 428 per share. The Rs. 2144 crore IPO of KIMS received bids for 5,56,55,046 shares as against 1,44,13,073 shares on offer i.e. a subscriptio of 3.86 times. The price band for the issue was Rs. 815-825 per share.