The Excelsoft Technologies IPO will close today, November 21, at 5 PM. On Day 3, investor interest remains strong, with the issue subscribed 32.64 times so far. The IPO price band was set between Rs 114 and Rs 120 per share.
However, the grey market premium (GMP) has weakened. According to market observers, Excelsoft Technologies’ unlisted shares are trading at Rs 134 in the grey market, reflecting an 11.67% premium or a GMP of Rs 14 over the upper issue price of Rs 120. This is slightly lower than yesterday’s 12.92% GMP. Last week, the GMP had climbed to nearly 25%.
The GMP fluctuates based on market sentiment and represents how much investors are willing to pay over the IPO price. Despite the drop in GMP, the subscription numbers indicate strong demand for the IPO.
