Rs 82 IPO is Making Huge Uproar in the Gray Market, 140% Premium Before Offering

IPO News: If you’re looking for an IPO that could give you double profit then this news will be helpful to you. The initial public offering (IPO) of Effwa Infra and Research Limited is going to start tomorrow on Friday, July 5. The offering will be available between till Tuesday, July 9, so investors can apply accordingly.

The shares of Effwa Infra and Research are available in the gray market. Even before the Offering starts, the share has already reached a premium of 140% in the gray market. Check more details below.

Effwa Infra IPO GMP

Effwa IPO offering will be going on between 5th July to 9th July. The price band of the IPO is set between Rs 78 to Rs 82. Effwa Infra will issue 53.168 lakhs of new fresh equity shares. Allotment of the shares will be on July 10 and listing on 12 July is estimated. It will trade on stock exchanges in a lot size 1,600 shares after listing. It is a small & medium enterprises (SME) stock so a low liquidity is expected.

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What is the GMP?

According to Investorgain.com, Effwa Infra shares are already trading at Rs 115 with a 140% premium in the gray market. This means, the stock can give a profit of 140% from the upper price band of Rs 82 after listing. It is also possible that, listing price could reach Rs 197 level considering the huge premium.

Offering Details

Out of 100% total offering, Effwa Infra has allotted 50% of the total issue size for qualified institutional buyers (QIBs). 35% has been allotted for retail investors and the rest 15% has been reserved for non-institutional investors.

About the Company

Effwa Infra and Research Limited is a leading environmental engineering service provider. The company specializes in the field of providing solutions for Solid waste treatment, hazardous waste management, water treatment plants, industrial sewage waste treatment etc. 

Apart from that, the company also provides engineering consultancy, procurement, construction and project management services for water pollution control.