Punjab, Sept. 11 -- Two smaller issues are in the market alongside the NSE announcement. Manika Plastech opened on September 11 and Steamhouse India closed the same day, while the benchmark indices staged a sharp intraday recovery.
Manika Plastech
Steamhouse India
Subscribed 8.36 times by 1pm on the third day, closing September 11, against an upper band of Rs 81.
A word about the grey market
Both issues have been discussed in terms of their grey market premium - around 30% for Manika Plastech, and about Rs 23 for Steamhouse, implying roughly a 28% listing gain.
That figure deserves a health warning. The grey market is unofficial and unregulated. It is a small, opaque market in unlisted applications, it is easily moved by a handful of ...