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SBI Cards shares trade at 50% premium in grey markets

Mar 01, 2020 12:16 IST

Even before the issue opens for the much-awaited SBI Cards IPO, grey market traders forecast the stock to list at around ₹1,100 while the IPO price has been fixed at ₹750-755 per share, the Economic Times reported on Thursday. Unlisted shares of the company are commanding a 50% premium on the IPO price in the grey market. The premium on unlisted shares shot up by ₹100 in the grey market in just one week since the IPO price announcement. Traders say the scrip is demanding ₹370-380 premium per share, which was in the ₹270-280 range a week ago.

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