Author: Aadarsh Patel | EQMint
Three IPOs—LCC Projects, Karamtara Engineering, and Steamhouse India—entered the final day of subscription on September 11, with investors closely tracking their grey market premiums (GMP), subscription levels, and expected listing gains.
Based on the latest GMP figures, LCC Projects is leading the listing-gain race, followed by Steamhouse India and Karamtara Engineering. All three IPOs are scheduled to close for subscription on September 11, with listing expected on September 17.
LCC Projects IPO GMP Today
LCC Projects has emerged as the strongest performer among the three based on implied listing gains. Its GMP stood at Rs 49 against the upper price band of Rs 146, indicating an estimated listing price of Rs 195 and an implied gain of around 33.56%.
The Rs 427.14 crore IPO has a price band of Rs 139-Rs 146 per share. The issue was subscribed 11.49 times by 12:30 p.m. on the final day of bidding.
Karamtara Engineering IPO GMP Today
Karamtara Engineering’s GMP stood at Rs 65, the highest in absolute rupee terms among the three IPOs. Against its upper price band of Rs 254, the estimated listing price is Rs 319, implying a potential listing gain of 25.59%.
The Rs 875 crore IPO was subscribed 8.66 times by 12:30 p.m. on September 11. Its price band is Rs 241-Rs 254 per share.
Steamhouse India IPO GMP Today
Steamhouse India recorded a GMP of Rs 23 against its upper price band of Rs 81. This indicates an estimated listing price of Rs 104 and an implied listing gain of 28.40%.
The company is raising Rs 414 crore through its IPO, with the issue subscribed 7.27 times by 12:30 p.m. on the final day.
LCC Projects vs Karamtara vs Steamhouse: Which IPO Leads?
Based on the latest GMP figures:
| IPO | GMP | Estimated Listing Price | Implied Listing Gain |
|---|---|---|---|
| LCC Projects | Rs 49 | Rs 195 | 33.56% |
| Steamhouse India | Rs 23 | Rs 104 | 28.40% |
| Karamtara Engineering | Rs 65 | Rs 319 | 25.59% |
LCC Projects currently leads on percentage-based listing gains, while Karamtara Engineering has the highest GMP in absolute rupee terms.
IPO Dates and Listing
All three IPOs opened for subscription on September 9 and close on September 11. The allotment is expected on September 15, while the shares are scheduled to list on the NSE and BSE on September 17.
EQMint Take
The three IPOs have attracted strong investor attention on the final day of bidding. LCC Projects currently stands out on the basis of its implied GMP-based listing gain, while Karamtara Engineering has the highest absolute GMP. Steamhouse India also remains competitive with an implied listing gain of around 28%.
However, GMP is an unofficial market indicator and can change before listing. Investors should consider the companies’ fundamentals, valuations, financial performance, and broader market conditions rather than relying solely on grey market premiums.
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