Heranba Industries IPO grey market premium jumps sharply this week ahead of listing

The listing of crop protection chemical manufacturer Heranba Industries seems to be a on a strong footing as its IPO grey market premium jumped sharply to 38 percent within a week. The renewed strong momentum in the equity market on falling US bond yields and strong FII inflow could be one of reasons for upside in grey market premium. The Nifty50 itself gained over 4 percent this week after falling around 6 percent in previous two weeks.
Shares were traded at a premium of Rs 230-240 in the grey…

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