What is IPO GMP / Grey Market Premium
Grey Market Premium (GMP) refers to the price investors are prepared to pay for shares in an IPO in an unregulated environment before their official listing on a stock market. It indicates how positive or confident investors are about the future value of their holdings. Although it’s not regulated and hence, carries no guarantee, it usually provides an overall view of the price increase that may happen at the time of listing. Angel One+2Groww+2.
If theipo price is ₹100 and the GMP is ₹20, potential investors believe that the listing price will be approximately ₹120. Angel One.
An increased GMP generally indicates high levels of demand and therefore a strong potential for listing gains, whereas a decreased or negative number shows a lack of demand and high risk.
| Stock / IPO | IPO GMP | IPO Price | Listing Gain | Date | Type | |
|---|---|---|---|---|---|---|
| Bharat Coking Coal (BCCL) | ₹10.7 | ₹23 | 46.52% | May Apply | 9-13 Jan | Mainboard |
| Amagi Media Labs | ₹16 | ₹361 | 4.43% | May Apply | 13-16 Jan | Mainboard |
| Gabion Technologies | ₹35 | ₹81 | 43.21% | May Apply | 6-8 Jan | SME |
| Yajur Fibres | ₹- | ₹174 | -% | – | 7-9 Jan | SME |
| Victory Electric Vehicles | ₹- | ₹41 | -% | Neutral | 7-9 Jan | SME |
| Defrail Technologies | ₹16 | ₹74 | 21.62% | Neutral | 9-13 Jan | SME |
| Avana Electrosystems | ₹5 | ₹59 | 8.47% | Neutral | 12-14 Jan | SME |
| Narmadesh Brass | ₹- | ₹515 | -% | Neutral | 12-15 Jan | SME |
| INDO SMC | ₹35 | ₹149 | 23.49% | Neutral | 13-15 Jan | SME |
| GRE Renew Enertech | ₹9 | ₹105 | 8.57% | Neutral | 13-16 Jan | SME |
| Armour Security | ₹1 | ₹57 | 1.75% | Neutral | 14-19 Jan | SME |
The Grey Market Premium (GMP) is an extremely popular measure of anticipated investor demand within the market just prior to a company’s IPO.
A higher GM[P indicates a generally positive or ‘bullish’ sense of market sentiment. This demonstrates the expectations of today’s investors regarding the performance of that company once the stock becomes publicly available for trading.
In contrast, the presence of a low or negative GMP demonstrates the likelihood that investor enthusiasm toward a particular offering will be less than that of other stocks by demonstrating lower demand, thus increasing the likelihood that the company’s stock will trade below the original IPO price.
It is important to keep in mind that GMP numbers are unofficial and will fluctuate significantly from moment to moment; therefore, use these as a guide for market sentiment, and not as an expectation of returns. Also, ensure that you perform extensive due diligence or seek the assistance of an appropriately qualified financial adviser before modifying your investment strategies.
IPO GMP Disclaimer
The Grey Market Premium (GMP) numbers here are intended to provide education and information only and should not be relied upon for investment decisions. The Grey Market (or Secondary Market) is a term used to describe the market in which investors trade stocks that are not yet listed on the exchange. While we will not help you engage in grey market trading, knowing about the Grey Market Premium can help you make better investment choices.
When considering investments in an IPO, an investor should never rely solely on the Grey Market Premium. Investors should look into the IPO Company details: Financials and Promoter/Management background and Business Model.
The Grey Market Premium has no official or regulated derivative offering or support from the SEBI (Securities and Exchange Board of India) and is, therefore, subject to rapid change.
Investing in the stock market is always going to involve assessing risk, so it’s important that you think through your own invested decisions. You can consult a financial advisor before making investments.
As stated by former Chairwoman of SEBI Madam Madhabi Puri Buch in January of 2025, the SEBI will look to implement its latest attempts to introduce a regulated “when listed” trading system so investors wishing to trade IPO shares would have that ability through regulated channels rather than relying solely on grey market transactions. By this regulation, it is destined to be a much improved and easier avenue for potential investors to perform accurately priced price discovery before the stocks officially become listed.
What is IPO GMP?
The Grey Market Premium (GMP), also known as IPO GMP, illustrates the difference between the issued price of an IPO, and the projected price at listing, as traded in the grey market. Although IPO shares may not officially be traded on any exchange, however, many investors will trade these shares in a personal/OTC marketplace, rather than these trades being conducted on the NSE or BSE exchanges.
In very simple terms, the IPO GMP represents the total amount investors are willing to pay for an IPO’s (shares) before an initial public offering actually becomes available on that particular IPO exchange.
For Example:
If the IPO issue price is ₹100 with a Grey Market Premium of ₹30, this would mean that people are currently buying and selling ₹130 worth of these limiting shares in the grey market (₹100 + ₹30).
A positive GREY MARKET PREMIUM (GMP) means that the demand for the share price is higher than its value at the time of listing. Therefore, it could be assumed that these shares will ultimately be traded at a higher value than what was priced, when they became openly available for trading.
Conversely, if the GREY MARKET PREMIUM (GMP) is negative, then there is a lack of interest from the investor’s perspective, and ultimately, there is a risk that these shares may be traded below their initial offering price once they are publicly traded.
How to Understand IPO GMP
The Grey Market Premium (GMP) numbers here are intended to provide education and information only and should not be relied upon for investment decisions. The Grey Market (or Secondary Market) is a term used to describe the market in which investors trade stocks that are not yet listed on the exchange. While we will not help you engage in grey market trading, knowing about the Grey Market Premium can help you make better investment choices.
When considering investments in an IPO, an investor should never rely solely on the Grey Market Premium. Investors should look into the IPO Company details: Financials and Promoter/Management background and Business Model.
The Grey Market Premium has no official or regulated derivative offering or support from the SEBI (Securities and Exchange Board of India) and is, therefore, subject to rapid change.
Investing in the stock market is always going to involve assessing risk, so it’s important that you think through your own invested decisions. You can consult a financial advisor before making investments.
As stated by former Chairwoman of SEBI Madam Madhabi Puri Buch in January of 2025, the SEBI will look to implement its latest attempts to introduce a regulated “when listed” trading system so investors wishing to trade IPO shares would have that ability through regulated channels rather than relying solely on grey market transactions. By this regulation, it is destined to be a much improved and easier avenue for potential investors to perform accurately priced price discovery before the stocks officially become listed.
Impact of IPO GMPof IPO GMP
GMP is used by traders to understand how people feel about the IPO. It helps determine if there will be a demand for the new IPOs, and what investors could potentially pay for shares in the future when they become available through an IPO. However, it should be noted that even though GREY MARKET PREMIUM can give a general idea of the future performance of the IPO, the GREY MARKET PREMIUM is not a guarantee of the future performance of any company; it only reflects the market perception and expectations regarding that stock and those expectations can change based on supply and demand in the GREY MARKET.
Mainboard IPO Grey Market Premium Trends
| IPO Name | IPO Price | IPO GMP | Listing Price |
|---|---|---|---|
| Gujarat Kidney | ₹114 | ₹1 | ₹120 |
| KSH International | ₹384 | ₹- | ₹370 |
| ICICI Prudential AMC | ₹2165 | ₹530 | ₹2600 |
| Nephrocare Health | ₹460 | ₹40 | ₹490 |
| Park Medi World | ₹162 | ₹5 | ₹158.80 |
| Corona Remedies | ₹1062 | ₹340 | ₹1470 |
| Wakefit Innovations | ₹195 | ₹4 | ₹195 |
| Meesho | ₹111 | ₹43 | ₹162.50 |
| Aequs | ₹124 | ₹28 | ₹140.00 |
| Vidya Wires | ₹52 | ₹4 | ₹52.00 |
| Sudeep Pharma | ₹593 | ₹115 | ₹730 |
| Excelsoft Technologies | ₹120 | ₹7 | ₹135 |
| Capillary Technologies | ₹577 | ₹60 | ₹571.90 |
| Fujiyama Power | ₹228 | ₹1 | ₹220 |
| Tenneco Clean Air | ₹397 | ₹102 | ₹505 |
| PhysicsWallah | ₹109 | ₹14 | ₹145 |
| Emmvee Photovoltaic | ₹217 | ₹- | ₹217 |
| Pine Labs | ₹221 | ₹5 | ₹242 |
| Groww | ₹100 | ₹5 | ₹112 |
| Lenskart Solutions | ₹402 | ₹15 | ₹395 |
| Studds Accessories | ₹585 | ₹50 | ₹565 |
| Orkla India | ₹730 | ₹65 | ₹750.10 |
| Midwest | ₹1065 | ₹115 | ₹1,165 |
| Canara HSBC Life | ₹106 | ₹3 | ₹106 |
| Rubicon Research | ₹485 | ₹145 | ₹620 |
| Canara Robeco | ₹266 | ₹20 | ₹280.25 |
| LG Electronics | ₹1140 | ₹420 | ₹1710.10 |
| Tata Capital | ₹326 | ₹1 | ₹330 |
| WeWork India | ₹648 | ₹0 | ₹650 |
| Om Freight Forwarders | ₹135 | ₹0 | ₹81.50 |
| Advance Agrolife | ₹100 | ₹13 | ₹114 |
| Glottis | ₹129 | ₹0 | ₹84 |
| Fabtech Technologies | ₹191 | ₹0 | ₹192 |
| Pace Digitek | ₹219 | ₹13 | ₹255 |
| TruAlt Bioenergy | ₹496 | ₹96 | ₹545.40 |
| Jinkushal Industries | ₹121 | ₹21 | ₹125 |
| Jain Resource Recycling | ₹232 | ₹14 | ₹265.05 |
| Epack Prefab | ₹204 | ₹- | ₹183.85 |
| BMW Ventures | ₹99 | ₹- | ₹78 |
| Seshaasai Technologies | ₹423 | ₹41 | ₹432 |
| Anand Rathi Share | ₹414 | ₹31 | ₹432 |
| Jaro Institute | ₹890 | ₹46 | ₹890 |
| Solarworld Energy | ₹351 | ₹39 | ₹388.50 |
| Atlanta Electricals | ₹754 | ₹106 | ₹857 |
| Ganesh Consumer | ₹322 | ₹- | ₹296.05 |
| GK Energy | ₹153 | ₹19 | ₹171 |
| Saatvik Green Energy | ₹465 | ₹11 | ₹- |
| Ivalue Infosolutions | ₹299 | ₹0 | ₹285 |
| VMS TMT | ₹99 | ₹13 | ₹105 |
| Euro Pratik Sales | ₹247 | ₹11 | ₹273.45 |
| Urban Company | ₹103 | ₹49 | ₹162.25 |
| Dev Accelerator | ₹61 | ₹3 | ₹61 |
| Shringar House | ₹165 | ₹27 | ₹189 |
| Amanta Healthcare | ₹126 | ₹6 | ₹135 |
| Anlon Healthcare | ₹91 | ₹1 | ₹92 |
| Vikran Engineering | ₹97 | ₹6 | ₹99 |
| Mangal Electrical | ₹561 | ₹0 | ₹556 |
| Gem Aromatics | ₹325 | ₹34 | ₹333.10 |
| Vikram Solar | ₹332 | ₹36 | ₹338 |
| Patel Retail | ₹255 | ₹53 | ₹300 |
| Shreeji Shipping Global | ₹252 | ₹28 | ₹270 |
| Regaal Resources | ₹102 | ₹31 | ₹141 |
| BlueStone Jewellery | ₹517 | ₹0 | ₹510 |
| All Time Plastics | ₹275 | ₹10 | ₹311.3 |
| JSW Cement | ₹147 | ₹6 | ₹164 |
| Knowledge Realty Trust REIT | ₹100 | ₹- | ₹103 |
| Highway Infrastructure | ₹70 | ₹24 | ₹115 |
| NSDL | ₹800 | ₹124 | ₹880 |
| Sri Lotus Developers | ₹150 | ₹32 | ₹178 |
| M&B Engineering | ₹385 | ₹45 | ₹385 |
| Aditya Infotech | ₹675 | ₹307 | ₹1,015 |
| Laxmi India Finance | ₹158 | ₹- | ₹137.52 |
| PropShare Titania | ₹10,60,000 | ₹0 | ₹- |
| Shanti Gold | ₹199 | ₹39 | ₹227.55 |
| Brigade Hotel Ventures | ₹90 | ₹0 | ₹81.1 |
| GNG Electronics | ₹237 | ₹96 | ₹355 |
| Indiqube Spaces | ₹237 | ₹2 | ₹216 |
| Anthem Biosciences | ₹570 | ₹174 | ₹723.05 |
| Smartworks Coworking | ₹407 | ₹26 | ₹435 |
| Travel Food Services | ₹1100 | ₹36 | ₹1125 |
| Crizac | ₹245 | ₹40 | ₹281.05 |
| Indogulf Cropsciences | ₹111 | ₹14 | ₹111 |
| HDB Financial | ₹740 | ₹71 | ₹835 |
| Sambhv Steel Tubes | ₹82 | ₹14 | ₹110 |
| Globe Civil Projects | ₹71 | ₹24 | ₹90 |
| Kalpataru | ₹414 | ₹- | ₹414 |
| Ellenbarrie Industrial Gases | ₹400 | ₹57 | ₹486 |
| Oswal Pumps | ₹614 | ₹45 | ₹634 |
| Scoda Tubes | ₹140 | ₹20 | ₹140 |
| Belrise Industries | ₹90 | ₹24 | ₹100 |
| Borana Weaves | ₹216 | ₹43 | ₹243 |
| Ather Energy | ₹321 | ₹5 | ₹328 |
| Quality Power | ₹425 | ₹5 | ₹432 |
| Hexaware Technologies | ₹708 | ₹- | ₹745 |
| Ajax Engineering | ₹629 | ₹5 | ₹576 |
| Dr. Agarwal’s Health Care | ₹402 | ₹- | ₹402 |
| Denta Water | ₹294 | ₹75 | ₹330 |
| Stallion India | ₹90 | ₹30 | ₹120 |
| Laxmi Dental | ₹428 | ₹145 | ₹542 |
| Quadrant Future Tek | ₹290 | ₹110 | ₹370 |
| Standard Glass Lining | ₹140 | ₹50 | ₹176 |
| Indo Farm Equipment | ₹215 | ₹80 | ₹256 |
| Unimech Aerospace | ₹785 | ₹625 | ₹1460 |
| Ventive Hospitality | ₹643 | ₹85 | ₹716 |
| Senores Pharmaceuticals | ₹391 | ₹280 | ₹594 |
| Carraro India | ₹704 | (+-)₹10 | ₹660 |
| Concord Enviro Systems | ₹701 | ₹100 | ₹826 |
| DAM Capital Advisors | ₹283 | ₹143 | ₹393 |
| Sanathan Textiles | ₹321 | ₹94 | ₹422 |
| Transrail Lighting | ₹432 | ₹165 | ₹585 |
| Mamata Machinery | ₹243 | ₹260 | ₹600 |
| Inventurus Knowledge | ₹1,329 | ₹415 | ₹1,900 |
| Sai Life Sciences | ₹549 | ₹70 | ₹650 |
| Mobikwik | ₹279 | ₹160 | ₹442 |
| Vishal Mega Mart | ₹78 | ₹20 | ₹104 |
| Suraksha Diagnostic | ₹441 | ₹15 | ₹438 |
| Enviro Infra | ₹148 | ₹55 | ₹220 |
| NTPC Green | ₹108 | ₹2 | ₹111 |
| Zinka Logistics (Blackbuck) | ₹273 | ₹- | ₹281 |
| Niva Bupa Health | ₹74 | ₹1 | ₹78 |
| Swiggy | ₹390 | ₹2 | ₹420 |
| ACME Solar | ₹289 | ₹- | ₹251 |
| Sagility India | ₹30 | ₹1 | ₹31 |
| Afcons Infrastructure | ₹463 | ₹15 | ₹426 |
| Deepak Builders | ₹203 | ₹30 | ₹200 |
| Waaree Energies | ₹1,503 | ₹1,275 | ₹2,500 |
| Hyundai Motor India | ₹1,960 | ₹45 | ₹,1934 |
| Garuda Construction | ₹95 | ₹- | ₹105 |
| Diffusion Engineers | ₹168 | ₹55 | ₹193 |
| KRN Heat Exchanger | ₹220 | ₹230 | ₹480 |
| Manba Finance | ₹120 | ₹40 | ₹150 |
| Northern Arc Capital | ₹263 | ₹150 | ₹351 |
| Arkade Developers | ₹128 | ₹65 | ₹176 |
| Western Carriers | ₹172 | ₹15 | ₹171 |
| P N Gadgil Jewellers | ₹480 | ₹300 | ₹840 |
| Bajaj Housing Finance | ₹70 | ₹78 | ₹150 |
| Kross | ₹240 | ₹25 | ₹240 |
| Tolins Tyres | ₹226 | ₹30 | ₹227 |
| Shree Tirupati Balajee | ₹83 | ₹40 | ₹90 |
| Gala Precision Engineering | ₹529 | ₹240 | ₹721 |
| Baazar Style Retail | ₹389 | ₹60 | ₹389 |
| ECOS Mobility | ₹334 | ₹125 | ₹391 |
| Premier Energies | ₹450 | ₹470 | ₹990 |
| Orient Technologies | ₹206 | ₹95 | ₹288 |
| Interarch Building Products | ₹900 | ₹330 | ₹1299 |
| Saraswati Saree | ₹160 | ₹45 | ₹94 |
| FirstCry | ₹465 | ₹75 | ₹651 |
| Unicommerce eSolutions | ₹108 | ₹65 | ₹235 |
| Ola Electric | ₹76 | ₹- | ₹76 |
| Ceigall India | ₹401 | ₹12 | ₹419 |
| Akums Drugs | ₹679 | ₹55 | ₹725 |
| Sanstar | ₹95 | ₹30 | ₹109 |
| Bansal Wire | ₹256 | ₹75 | ₹356 |
| Emcure Pharmaceuticals | ₹1008 | ₹300 | ₹1325 |
| Vraj Iron and Steel | ₹207 | ₹50 | ₹240 |
| Allied Blenders | ₹281 | ₹60 | ₹320 |
| Stanley Lifestyles | ₹369 | ₹160 | ₹499 |
| DEE Piping Systems | ₹203 | ₹95 | ₹339 |
| Akme Fintrade | ₹120 | ₹18 | ₹125 |
| Ixigo | ₹93 | ₹30 | ₹138 |
| Kronox Lab Sciences | ₹136 | ₹25 | ₹165 |
| Awfis Space | ₹383 | ₹125 | ₹435 |
| Go Digit | ₹272 | ₹25 | ₹281 |
| Aadhar Housing | ₹350 | ₹50 | ₹350 |
| TBO TEK | ₹920 | ₹350 | ₹1426 |
| Indegene | ₹452 | ₹290 | ₹655 |
| JNK India | ₹415 | ₹130 | ₹621 |
| Vodafone Idea | ₹11 | ₹1.40 | ₹11.80 |
| Bharti Hexacom | ₹570 | ₹90 | ₹755 |
| SRM Contractors | ₹210 | ₹125 | ₹215 |
| Krystal Integrated | ₹715 | ₹55 | ₹795 |
| Popular Vehicles | ₹295 | ₹- | ₹289 |
| Gopal Snacks | ₹401 | ₹- | ₹351 |
| JG Chemicals | ₹221 | ₹5 | ₹209 |
| R K SWAMY | ₹288 | ₹- | ₹250 |
| Mukka Proteins | ₹28 | ₹35 | ₹44 |
| Exicom Tele-Systems | ₹142 | ₹150 | ₹265 |
| Platinum Industries | ₹171 | ₹100 | ₹225 |
| GPT Healthcare | ₹186 | ₹10 | ₹195 |
| Juniper Hotels | ₹360 | ₹0 | ₹361 |
| Vibhor Steel Tubes | ₹151 | ₹130 | ₹425 |
| Entero Healthcare Solutions | ₹1258 | ₹0 | ₹1245 |
| Rashi Peripherals | ₹311 | ₹40 | ₹339 |
| Capital Small Finance Bank | ₹468 | ₹0 | ₹430 |
| Jana Small Finance Bank | ₹414 | ₹15 | ₹396 |
| Apeejay Surrendra Park Hotels | ₹155 | ₹35 | ₹187 |
| BLS E-Services | ₹135 | ₹150 | ₹305 |
| Nova Agri Tech | ₹41 | ₹15 | ₹55 |
| EPACK Durable | ₹230 | ₹5 | ₹221 |
| Medi Assist Healthcare | ₹418 | ₹35 | ₹465 |
| Jyoti CNC Automation | ₹331 | ₹45 | ₹370 |
| Innova Captab | ₹448 | ₹85 | ₹456 |
| Azad Engineering | ₹524 | ₹200 | ₹706 |
| RBZ Jewellers | ₹100 | ₹5 | ₹100 |
| Happy Forgings | ₹850 | ₹250 | ₹1000 |
| Credo Brands (Mufti Jeans) | ₹280 | ₹100 | ₹282 |
| Motisons Jewellers | ₹55 | ₹56 | ₹109 |
| Suraj Estate Developers | ₹360 | ₹15 | ₹340 |
| Muthoot Microfin | ₹291 | ₹25 | ₹275 |
| Inox India | ₹660 | ₹550 | ₹934 |
| DOMS IPO | ₹790 | ₹490 | ₹1300 |
| India Shelter Finance | ₹493 | ₹165 | ₹620 |
| Flair Writing | ₹304 | ₹150 | ₹503 |
| Gandhar Oil | ₹169 | ₹75 | ₹298 |
| Fedbank Financial Services | ₹140 | ₹- | ₹138 |
| Tata Technologies | ₹500 | ₹430 | ₹1200 |
| IREDA | ₹32 | ₹12 | ₹50 |
| ASK Automotive | ₹282 | ₹30 | ₹305 |
| Protean eGov Technologies | ₹792 | ₹40 | ₹792 |
| ESAF Small Finance Bank | ₹60 | ₹20 | ₹71 |
| Mamaearth | ₹324 | ₹30 | ₹330 |
| Cello World | ₹648 | ₹180 | ₹829 |
| Blue Jet Healthcare | ₹346 | ₹25 | ₹380 |
| IRM Energy | ₹505 | ₹15 | ₹478 |
| Plaza Wires | ₹54 | ₹25 | ₹76 |
| Valiant Laboratories | ₹140 | ₹25 | ₹162 |
| Updater Services | ₹300 | ₹- | ₹285 |
| Manoj Vaibhav Gems | ₹215 | ₹10 | ₹215 |
| JSW Infrastructure | ₹119 | ₹30 | ₹143 |
| Yatra Online | ₹142 | ₹- | ₹127 |
| Sai Silks Kalamandir | ₹222 | ₹7 | ₹231 |
| Signature Global | ₹385 | ₹40 | ₹444 |
| Zaggle Prepaid Ocean Services | ₹164 | ₹15 | ₹164 |
| Samhi Hotels | ₹126 | ₹2 | ₹134 |
| EMS IPO | ₹211 | ₹100 | ₹282 |
| RR Kabel | ₹1035 | ₹95 | ₹1140 |
| Jupiter Life Line Hospitals | ₹735 | ₹230 | ₹973 |
| Rishabh Instruments | ₹441 | ₹65 | ₹460 |
| Ratnaveer Precision Engineering | ₹98 | ₹50 | ₹128 |
| Vishnu Prakash R Punglia | ₹99 | ₹60 | ₹165 |
| Aeroflex Industries | ₹108 | ₹65 | ₹197 |
| Pyramid Technoplast | ₹166 | ₹20 | ₹187 |
| TVS Supply Chain Solutions | ₹197 | ₹- | ₹207 |
| Concord Biotech | ₹741 | ₹110 | ₹900 |
| SBFC Finance | ₹57 | ₹30 | ₹82 |
| Yatharth Hospital | ₹300 | ₹80 | ₹306 |
| Netweb Technologies | ₹500 | ₹400 | ₹947 |
| Utkarsh Small Finance Bank | ₹25 | ₹15 | ₹40 |
| Senco Gold | ₹317 | ₹100 | ₹430 |
| Cyient DLM | ₹265 | ₹150 | ₹402 |
| IdeaForge | ₹672 | ₹510 | ₹1300 |
| HMA Agro | ₹585 | ₹- | ₹625 |
| IKIO Lighting | ₹285 | ₹100 | ₹391 |
| Nexus Select Trust | ₹100 | ₹5 | ₹103 |
| Mankind Pharma | ₹1080 | ₹100 | ₹1300 |
| Avalon Technologies | ₹436 | ₹10 | ₹436 |
| Udayshivakumar Infra | ₹35 | ₹5 | ₹30 |
| Global Surfaces | ₹140 | ₹15 | ₹164 |
| Divgi TorqTransfer Systems | ₹590 | ₹40 | ₹620 |
| Sah Polymers | ₹65 | ₹10 | ₹85 |
| Radiant Cash Management | ₹99 | ₹3 | ₹103 |