Grey market premiums for CSM Technologies' initial public offering have risen sharply, suggesting a potential listing gain despite notably muted subscription levels during the first two days of bidding.
The IT solutions provider's ₹146 crore issue, which opened to public subscription earlier this week, is set to list on the Bombay Stock Exchange and the National Stock Exchange on July 2.
The divergence between formal subscription data and grey market sentiment highlights a split in investor behavior.
While institutional and retail participation in the official bidding process has been tepid, speculative interest in the grey market remains strong.
Livemint reports that the premium hints at a positive listing day, contrasting with the cautious approach seen in the primary subscription window.
CSM Technologies is not alone in attracting grey market attention.