Dhaval Packaging and Oneindig Technologies Set to Debut on Stock Exchange Today – Check GMP and Anticipated Listing Price!

Oneindig Technologies and Dhaval Packaging are set to make their debut on the BSE SME platform on August 6, 2023. The initial public offerings (IPOs) for both companies opened for subscription from July 30 to August 3, with Oneindig Technologies targeting Rs 27.65 crore through a fresh issue of 0.29 crore equity shares priced between Rs 91-96 per share. The IPO was subscribed 1.68 times overall, led by non-institutional investors (NII) at 2.40 times and retail investors at 1.84 times. On the other hand, Dhaval Packaging, which offered 37 lakh shares at Rs 97 each, attracted an impressive subscription of 35.52 times, indicating high demand across all investor categories.

In terms of grey market sentiments, Dhaval Packaging is performing notably better, commanding a grey market premium (GMP) of approximately Rs 12 per share, suggesting a projected listing price of around Rs 109. Conversely, Oneindig Technologies is trading at a lower GMP of about Rs 7, with expectations of a listing price near Rs 103. This marked difference in market sentiment indicates a more robust outlook for Dhaval Packaging, reflecting the investor enthusiasm for its growth potential in the packaging sector compared to Oneindig Technologies’ renewable energy focus.

For Indian investors, the contrasting prospects of these two SME IPOs underline the importance of considering both subscription metrics and grey market trends when evaluating new listings. While Dhaval Packaging’s high subscription and GMP signal a highly anticipated debut, caution is warranted as GMP is an unofficial indicator that may not always align with actual market performance. Investors should weigh the growth strategies of both companies and their respective plans for the use of proceeds — with Dhaval focusing on expanding manufacturing capabilities while Oneindig aims to bolster working capital — before making investment decisions in this dynamic market environment.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)