Market observers feel that the grey market sentiments remaining unenthusiastic to the Swiggy IPO can be attributed to the trend reversal in the Indian secondary market.

Brokerages have advised investors to subscribe to the issue with a long-term investment perspective.

The company, which runs one of the Middle East's biggest hypermarket chains with more than 240 grocery stores in six Gulf countries, is offering 2.582 billion shares, equal to a 25% stake.

The IPO will close on November 8, with a single-day bidding opportunity for anchor investors available on November 5.

`There are pockets of opportunities within private banks and financial services where you can find well-managed companies with strong fundamentals. '

Founded in 1974, Yusuff Ali-led Lulu group operates over 240 hypermarkets and shopping malls across 10 countries, including India, Egypt, Malaysia, and Indonesia

The Grey Market Premium (GMP) for Hyundai Motors indicates a downward trend ahead of its listing next Tuesday, potentially leading to a flat debut.

The portion allocated to qualified institutional buyers (QIBs) garnered only 13,89,647 bids, representing 5 percent of the 28,283,260 shares reserved for them.

The Hyundai IPO is poised to raise approximately ₹28,000 crore, with a price band set between ₹1,865 and ₹1,960 per share.

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