SBI Funds Management IPO vs Alpine Texworld IPO: Which issue should you subscribe? Check what latest GMP signals
Awaiting price reaction for this filing.
Two IPOs opened for subscription on July 14. The SBI Funds Management IPO, priced at Rs 545-574, is an Rs 11,692.91 crore pure Offer for Sale by State Bank of India (6.3 percent stake) and Amundi India Holding (3.7 percent stake), commanding a grey market premium of Rs 100 indicating around 17.42 percent potential listing gain. The company had raised Rs 1,655 crore via pre-IPO placement from 30 institutional investors. The Alpine Texworld IPO, priced at Rs 100-105, is a Rs 126.25 crore fresh issue for capacity expansion at a new Ahmedabad weaving unit and debt repayment, with a modest GMP of Rs 5 indicating about 4.76 percent listing premium. Swastika Investmart recommended Subscribe for Long Term on SBI Funds Management and Neutral on Alpine Texworld.