Glass Wall IPO Lists at 7% Premium, Far Below 23% GMP Signal
Glass Wall Systems debuted on NSE at Rs 194, a 6.59% premium over its Rs 182 issue price, far below the 23% grey market premium. The Rs 427.89 crore IPO was subscribed 81.65 times overall, with QIBs leading at 167.93x. The heavy offer-for-sale component and underwhelming listing raise questions about grey market reliability for IPO pricing.