By Aditya Raghunath
Investing.com — Investors who subscribed and got shares allotted in the IPOs of G R Infraprojects Ltd (NS:), and Clean Science & Technology must be a happy lot. Both stocks made rocking debuts on the stock markets today.
GR Infra closed at Rs 1,737.95, a premium of 107.6% to its issue price of Rs 837 while Clean Science closed at Rs 1,583, a premium of 76% to its issue price of Rs 900.
Early indications were strong that both stocks would deliver stunning listing gains to their shareholders. The grey market premium (GMP) for both stocks before the start of day was around 60%.
Market analysts have advised shareholders to book partial profits in the stocks and hold the rest for the long term. Analysts agree there is a lot of upside left in both companies. Asha Jain of Hem Securities told The Economic Times, “We are very bullish on Clean Science and Technology and suggest a portion to be kept in the portfolio for longer term play.”
GR Infra had an order book of Rs 19,000 crore at the end of March 2021.
Both IPOs saw heavy over-subscription when they launched their IPOs. GR Infra was subscribed 102.58 times, while Clean Science was subscribed 93.41 times.