Chanakya Grey Market Intelligence – 8.00 PM Edition

E To E Transport SME IPO

GMP jumped sharply to Rs. 146, indicating strong grey market appetite. With an issue price of Rs. 174, the implied listing price works out to around Rs. 320, reflecting nearly 84% upside. Demand is well spread across Mumbai, Rajkot, Jaipur and Gandhidham. Railway-linked business and reasonable valuation continue to keep sentiment firm, with traders expecting further firmness.

Apollo Techno Industries SME IPO

GMP remains stable at Rs. 12, suggesting an indicative listing price near Rs. 142 against the issue price of Rs. 130. Despite massive subscription numbers, grey market activity is limited with only selective trades in Rajkot. Trend suggests controlled optimism rather than speculative frenzy.

Dhara Rail SME IPO

Current GMP stands at Rs. 18, down from higher levels earlier, implying a tentative listing near Rs. 144 versus issue price of Rs. 126. Grey market trades are sparse, mainly from Jaipur. After exceptional subscription figures, traders appear cautious, indicating profit booking expectations at higher levels.

Bai Kakaji Poly SME IPO

GMP cooled off to Rs. 2, indicating a modest listing around Rs. 188. After witnessing higher GMP earlier, the premium has stabilised at lower levels, suggesting limited upside and a wait-and-watch approach from operators.

Dachepalli Publishers SME IPO

GMP steady at Rs. 2, pointing to an indicative listing near Rs. 104 against issue price of Rs. 102. Grey market participation is thin, and sentiment remains neutral with limited speculative interest.

Shyam Dhani SME IPO

GMP remains extremely strong at Rs. 72, indicating a potential listing near Rs. 142 versus issue price of Rs. 70, translating into over 100% premium. However, actual trades are very limited, largely restricted to Jaipur, suggesting operator-driven premiums with low trade depth.

📌 Chanakya Grey Market Summary

• E To E Transport remains the strongest SME play with broad-based operator interest.

• Apollo Techno & Dhara Rail show controlled premiums despite massive subscriptions.

• Shyam Dhani commands eye-catching GMP, but thin trade volumes warrant caution.

• Low or absent GMP IPOs reflect weak or absent speculative interest.