👉The Newmalayalam Steel IPO, despite showing a steady grey market premium (GMP) of over 30% before listing, opened flat at its issue price. 

👉Following the listing, it faced a series of LC's and is now trading at ₹60, a 33% decline from its issue price.

👉This isn’t an isolated case, there have been numerous IPOs where the listing price fell significantly below the GMP. It’s important to note that GMP can often be misleading or even manipulated.

👉So please don't invest in IPO's based on GMP only, always evaluate the company's fundamentals, valuations, and growth potential before investing. 

👉Give some time to research about the company’s fundamentals, valuations, and growth potential before putting your hard-earned money at risk. While we may not always get it right, but it’s essential to learn from such experiences.

Check the below post, where I already said to avoid this IPO with some reasons👇
https://t.co/IVZH1xfRhT

@Tanmay_31_ @manishlalwani9 @Paryan_Sharma @Alchemist1320 
#IPOListing #IPOGMP #ipoupdate #IpoAlert #SME