IPOs Launch Today: Sai, Amir Chand, Powerica, and CMPDI Open for Subscription

IPO Market Update: Multiple Issues Open Amid Cautious Sentiment

The primary market is experiencing a busy week with several Initial Public Offerings (IPOs) opening simultaneously. The Amir Chand Jagdish Kumar (Exports) Ltd IPO, a ₹440 crore fresh issue, opened on March 24 and will close on March 27. The issue has seen moderate investor interest despite muted grey market signals.

Other notable IPOs include Powerica Ltd and Sai Parenteral's Ltd. The Sai Parenteral's IPO is a pharmaceutical offering with a price band of ₹372– ₹392 per share. The Powerica IPO has also opened for subscription, but has limited grey market traction. In contrast, the Central Mine Planning and Design Institute Ltd (CMPDI) IPO, which opened on March 20 and closes on March 24, has seen steady interest due to its strong parentage and sector positioning.

Grey Market Sentiment

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Market sentiment in the grey market remains largely subdued. The Amir Chand Jagdish Kumar IPO is commanding a modest ₹6 Grey Market Premium (GMP), indicating a mild listing premium of about 3%. In contrast, the Powerica IPO has seen a sharp decline in GMP to near zero (₹6– ₹7 range earlier), reflecting soft investor appetite. The Sai Parenteral's IPO is trading at a flat GMP of ₹0, signaling muted expectations. The CMPDI IPO is quoting at just around Re 1 premium (~0.6%), indicating limited listing gains.