Important: GMP (Grey Market Premium) is an unofficial, unregulated indicator based on informal trading activity. It does not guarantee listing performance and should not be the sole basis for any investment decision. IPOGenie displays GMP purely for informational purposes.
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⚫ Recently Listed IPOs — Final GMP vs Actual Listing
| Company | Type | Issue Price | GMP (₹) | GMP (%) | Est. Listing | Status | Rating | Details |
|---|---|---|---|---|---|---|---|---|
| MAINBOARD | ₹111 | +₹43 | +38.7% | ₹154 | Listed | ✓ Subscribe | View | |
| MAINBOARD | ₹1062 | +₹340 | +32.0% | ₹1402 | Listed | ✓ Subscribe | View | |
| MAINBOARD | ₹2165 | +₹530 | +24.5% | ₹2695 | Listed | ✓ Subscribe | View | |
| MAINBOARD | ₹100 | +₹5 | +5.0% | ₹105 | Listed | ✓ Subscribe | View | |
| MAINBOARD | ₹402 | +₹15 | +3.7% | ₹417 | Listed | ~ Neutral | View | |
| MAINBOARD | ₹100 | +₹3 | +3.0% | ₹103 | Listed | ✓ Subscribe | View | |
| MAINBOARD | ₹221 | +₹5 | +2.3% | ₹226 | Listed | ✓ Subscribe | View | |
| SME | ₹146 | ₹0 | 0% | ₹146 | Listed | ~ Neutral | View | |
| MAINBOARD | ₹320 | ₹0 | 0% | ₹320 | Listed | ~ Neutral | View | |
| MAINBOARD | ₹1053 | ₹-37 | -3.5% | ₹1016 | Listed | ~ Neutral | View |
What is IPO GMP? A Complete Guide
Grey Market Premium (GMP) is the price at which IPO shares trade in the unofficial grey market before the company officially lists on the stock exchange. This informal market operates outside the regulatory framework of SEBI and the stock exchanges.
How GMP Works
When a company announces an IPO, grey market operators — typically in cities like Jaipur, Ahmedabad, and Delhi — begin trading the IPO shares informally. The GMP reflects the market's collective expectation of the listing price.
Example: If an IPO has an issue price of ₹500 and the GMP is ₹80, the grey market expects the stock to list around ₹580. This represents a 16% estimated listing gain.
GMP Formula
Estimated Listing Price = Issue Price + GMP
GMP % = (GMP ÷ Issue Price) × 100
Kostak and Subject-to-Sauda
Alongside GMP, the grey market also has two other indicators: Kostak Rate (price paid for an entire IPO application regardless of allotment) and Subject-to-Sauda (price paid per share, conditional on allotment). Both are strictly unofficial and unregulated.
Is GMP Reliable?
GMP has a reasonably strong correlation with final listing prices for large, high-demand IPOs. However, it can be manipulated by vested interests and can change dramatically in the days before listing. Never make investment decisions based solely on GMP. Always evaluate the company's fundamentals, financials, and sector prospects.