Current IPO GMP with Estimated Listing Gain
| Current IPOs | GMP | Price | Gain | Date | Subject | Type |
|---|---|---|---|---|---|---|
| Globe Civil Projects | ₹24 | ₹71 | 37% | 24–26 June | – | Mainboard |
| Kalptaru | – | ₹44 | – | 25–26 June | – | Mainboard |
| Ellenbarrie Industrial Gases | – | ₹308 | – | 25–27 June | – | Mainboard |
| HDB Financial | ₹72 | ₹720 | 10% | 25–27 June | ₹1,200 | Mainboard |
| Sambhav Steel Tubes | ₹15 | ₹81 | 19% | 26–28 June | ₹1,200 | BSE SME |
| Indiglory Craspaciences | – | ₹61 | – | 26–28 June | ₹1,200 | Mainboard |
| Crizac | – | ₹169 | – | 26–28 June | – | Mainboard |
| Travel Food Services | – | ₹350 | – | 26–28 June | – | Mainboard |
| Anthem Biosciences | – | – | – | July 2025 | – | Mainboard |
| NSDL | – | – | – | July 2025 | – | Mainboard |
| AJC Jewel | ₹11 | ₹61 | 18% | 23–26 June | ₹3,600 | BSE SME |
| Icon Facilitators | ₹9 | ₹48 | 19% | 24–26 June | ₹4,600 | BSE SME |
| Shri Hare-Krishna Sponge Iron | ₹8 | ₹60 | 13% | 24–26 June | ₹2,400 | BSE SME |
| Abram Food | ₹18 | ₹92 | 19% | 24–26 June | ₹1,200 | BSE SME |
| Supertech EV | ₹13 | ₹82 | 16% | 25–27 June | ₹1,200 | BSE SME |
| Suntech Infra Solutions | ₹33 | ₹86 | 38% | 25–27 June | ₹40,100 | NSE SME |
| Rama Telecom | – | – | – | 25–27 June | – | NSE SME |
| PRO FX Techs | ₹2 | ₹43 | 5% | 26–28 June | ₹1,200 | NSE SME |
| Ace Alpha Tech | ₹28 | ₹96 | 30% | 26–30 June | ₹3,000 | BSE SME |
| Valencia India | ₹20 | ₹82 | 24% | 26–30 June | ₹1,120 | BSE SME |
| Moving Media Entertainment | ₹20 | ₹85 | 23% | 26–30 June | ₹3,400 | NSE SME |
| Neetu Yoshi | ₹8 | ₹35 | 23% | 27–1 July | ₹1,200 | BSE SME |
| Adcumy Media India | ₹44 | ₹85 | 52% | 27–1 July | ₹3,600 | BSE SME |
| Marc Lorie | ₹8 | ₹100 | 8% | 30–2 July | ₹5,000 | BSE SME |
| Cedarx Textile | – | ₹81 | – | 30–2 July | ₹1,200 | BSE SME |
| Pushap Jewellers | ₹28 | ₹147 | 19% | 30–2 July | ₹3,300 | BSE SME |
| Silky Overseas | – | ₹52 | – | 1–3 July | ₹1,200 | BSE SME |
| Vandan Foods | – | ₹126 | – | 1–3 July | – | BSE SME |
| Cryogenic OGS | – | ₹47 | – | 3–5 July | – | BSE SME |
| White Force | – | ₹72 | – | 3–5 July | – | BSE SME |
| Meta Infotech | – | – | – | – | – | BSE SME |
| Chemkart India | – | – | – | – | – | BSE SME |
| Victory Electric | – | – | – | – | – | BSE SME |
| Wagons Learning | – | – | – | – | – | BSE SME |
| Priority Jewels | – | – | – | – | – | BSE SME |
| Hero Fincorp | – | – | – | – | – | Mainboard |
| Tea Post | – | – | – | – | – | Mainboard |
| BMW Ventures | – | – | – | – | – | Mainboard |
| Solar91 Cleantech | – | – | – | 2025 | – | BSE SME |
| Rosemart Digital | – | – | – | 2025 | – | BSE SME |
What is IPO Grey Market Price (GMP)?
When you apply for an IPO in India, you’re basically booking shares at the issue price. But before the IPO actually lists on the stock exchange, there’s an unofficial market where people buy and sell these shares based on expected listing gains. This is known as the IPO Grey Market, and the price at which these shares trade is called the Grey Market Premium (GMP).
In simple words:
GMP = How much more investors are willing to pay above the IPO price, unofficially.
If an IPO has a GMP of ₹100 and the issue price is ₹500, it means the stock is expected to list around ₹600.
How Does the IPO Grey Market Work?
Unofficial & Unregulated
The Grey Market is not officially recognized by SEBI or stock exchanges. It’s based on trust between buyers and sellers, often run by small brokers or dealers.
Early Sentiment Indicator
The GMP reflects the mood of the market — if it’s high, people expect strong listing gains. If it’s falling, sentiment may be cooling.
Operates Before Listing
The Grey Market usually opens a few days after the IPO opens for subscription and runs till a day before listing.
Deals Done in Cash
Most transactions are done offline and in cash — that’s why it’s unofficial and carries risk.
Why Do Investors Track GMP?
✔ To Estimate Listing Price
A strong GMP can hint at good listing gains. Many retail investors use GMP as a guide to decide whether to apply for an IPO.
✔ To Gauge Demand
GMP also signals demand in the market. If institutional subscription is low but GMP is rising, retailers may still expect a premium.
✔ For Kostak & Subject to Sauda Deals
Besides GMP, the Grey Market also has terms like Kostak Rate and Subject to Sauda — more on that below!
Key Points About IPO Grey Market Price
1. It’s 100% Unofficial
The Grey Market has no legal backing in India. SEBI or exchanges do not regulate it. Always know the risks before trusting any GMP figure.
2. GMP is Volatile
Grey Market Premiums can change daily. A good GMP at the start doesn’t guarantee it will stay that way till listing.
3. Kostak & Subject to Sauda — What Are They?
- Kostak Rate:
This is the price at which someone buys your IPO application, regardless of allotment.
Example: If the Kostak is ₹500 and you sell your application, you get ₹500 even if you don’t get shares.
Subject to Sauda:
This is a deal where you sell your application only if you get the allotment. If you don’t get shares, the deal is cancelled.
GMP is Not a Sure Thing
Some IPOs with high GMPs flop on listing day due to negative market sentiment or global factors. Always use GMP along with proper research.
Example of How GMP Works
Imagine you applied for an IPO at ₹200 per share.
- The Grey Market Premium is ₹50.
- So the market expects the share to list around ₹250.
If you have an allotment and the stock does list at ₹250 or higher, you make a profit!
But if market conditions turn bad overnight, the actual listing could be lower — this happens more often than you’d think.
Pros & Cons of Tracking IPO Grey Market Price
Pros | Cons |
Gives an early idea of listing gains | Totally unregulated |
Shows market sentiment | Can be manipulated |
Helps plan strategy to hold or sell | Not a guarantee |
How to Use GMP Smartly
✔ Combine GMP with Subscription Data
Don’t rely only on GMP. Check QIB (Qualified Institutional Buyers) and HNI subscription numbers too.
✔ Read IPO Reports
Detailed reports will tell you if the fundamentals match the hype. If not, rethink.
✔ Beware of Manipulation
Some groups push up GMP artificially to attract more retail investors. Stay alert.
✔ Have a Plan
Decide in advance: Will you sell on listing day if GMP is strong? Or hold long term?
Where Can You Check IPO GMP?
Some trusted sources are:
- Reputed stock brokers’ IPO pages
- Websites like IPO Central, Chittorgarh, or your own Top Share Broker site
- Verified investor forums (avoid random Telegram channels)
FAQs About IPO Grey Market Price
Here are 10 clear, beginner-friendly FAQs:
Q1: Is the IPO Grey Market legal in India?
A: It’s not illegal but it’s unofficial and unregulated — so there’s no legal protection.
Q2: How is GMP decided?
A: It’s driven by demand and supply. Dealers and investors negotiate prices based on perceived listing gains.
Q3: What does a high GMP mean?
A: It means investors expect strong listing gains.
Q4: Can GMP guarantee profit on listing?
A: No! GMP is only an indicator — real market conditions decide the listing price.
Q5: What is the Kostak rate?
A: The price you get if you sell your entire IPO application regardless of allotment.
Q6: What is Subject to Sauda?
A: It’s a deal to sell your IPO application only if you get the allotment.
Q7: Where can I find genuine GMP figures?
A: Reputed IPO sites, brokerages, and trusted forums. Avoid unverified WhatsApp/Telegram rumors.
Q8: Why does GMP fluctuate daily?
A: Market mood, news about the company, or global market swings affect sentiment.
Q9: Can I lose money in the Grey Market?
A: Yes. Deals are unofficial. If there’s a default or fraud, you have no legal recourse.
Q10: Should beginners trade in the Grey Market?
A: It’s risky. Beginners should use GMP only as a guide for expected listing price, not for actual off-market trades.
Conclusion
The IPO Grey Market Price is like a window into the stock’s possible listing day. It’s useful but far from foolproof. Smart investors treat GMP as just one of many tools — along with strong IPO Reports, subscription data, and fundamentals.
So, before you rush in, know the risks, stay informed, and keep your IPO investing safe and smart!
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