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Check live Grey Market Premium (GMP) for all IPOs in India - upcoming, ongoing, and recently listed. Track expected listing price, gain %, Kostak rate, and subscription figures in one place. Updated daily from grey market sources.
Grey Market Premium (GMP) is the price at which IPO shares are traded in the grey market - an unofficial, unregulated market that operates before the IPO officially lists on BSE or NSE. GMP gives investors an early indication of how the IPO may perform on listing day. A positive GMP means buyers in the grey market are willing to pay above the issue price, which generally signals strong demand.
| IPO | Signal | GMP | Issue Price | Exp. Listing | Gain % | Sub | Dates | |
|---|---|---|---|---|---|---|---|---|
|
SA
Safety Controls & Devices IPO
Soon
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹80
₹75–80
|
₹80 | +0.0% | - | Opens Apr 06 | GMP |
|
EM
Emiac Technologies IPO
Live
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹98
₹93–98
|
₹98 | +0.0% | 0.14× | Mar 27–Apr 08 | GMP |
|
VI
Vivid Electromech IPO
Closed
SME
NSE
|
Neutral |
+₹0
▲ ₹0
|
₹555
₹528–555
|
₹555 | +0.0% | 1.13× | Listed Apr 06, 2026 | GMP |
|
HI
Highness Microelectronics IPO
Closed
SME
BSE
|
Warm |
+₹24
▲ ₹3
|
₹120
₹114–120
|
₹144 | +20.0% | 193.91× | Listed Apr 02, 2026 | GMP |
|
PO
Powerica IPO
Closed
NSE,BSE
|
Neutral |
+₹1
▼ ₹3
|
₹395
₹375–395
|
₹396 | +0.3% | 1.53× | Listed Apr 02, 2026 | GMP |
|
SA
Sai Parenteral's IPO
Closed
NSE,BSE
|
Neutral |
+₹0
▲ ₹0
|
₹392
₹372–392
|
₹392 | +0.0% | 1.08× | Listed Apr 02, 2026 | GMP |
|
AM
Amir Chand Jagdish Kumar (Exports) IPO
Closed
NSE,BSE
|
Neutral |
+₹2.25
▲ ₹0.75
|
₹212
₹201–212
|
₹214.25 | +1.1% | 3.41× | Listed Apr 02, 2026 | GMP |
|
TI
Tipco Engineering IPO
Listed
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹89
₹84–89
|
₹89 | +0.0% | 1.95× | Listed Apr 01, 2026 | GMP |
|
SP
Speciality Medicines IPO
Listed
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹124
₹117–124
|
₹124 | +0.0% | 2.27× | Listed Mar 30, 2026 | GMP |
|
CE
Central Mine Planning & Design Institute IPO
Listed
NSE,BSE
|
Neutral |
+₹5
▲ ₹0
|
₹172
₹163–172
|
₹177 | +2.9% | 1.05× | Listed Mar 30, 2026 | GMP |
|
NO
Novus Loyalty IPO
Listed
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹146
₹136–146
|
₹146 | +0.0% | 1.55× | Listed Mar 25, 2026 | GMP |
|
GS
GSP Crop Science IPO
Listed
NSE,BSE
|
Neutral |
+₹2
▲ ₹0
|
₹320
₹304–320
|
₹322 | +0.6% | 1.64× | Listed Mar 24, 2026 | GMP |
|
AP
Apsis Aerocom IPO
Listed
SME
NSE
|
Warm |
+₹26
▲ ₹0
|
₹110
₹104–110
|
₹136 | +23.6% | 129.41× | Listed Mar 18, 2026 | GMP |
|
RA
Raajmarg Infra Investment Trust IPO
Listed
NSE,BSE
|
Neutral |
+₹3.5
▼ ₹0.25
|
₹100
₹99–100
|
₹103.5 | +3.5% | 13.57× | Listed Mar 18, 2026 | GMP |
|
IN
Innovision IPO
Listed
NSE,BSE
|
Weak |
₹-92
▲ ₹0
|
₹548
₹521–548
|
₹456 | -16.8% | 3.46× | Listed Mar 20, 2026 | GMP |
|
RA
Rajputana Stainless IPO
Listed
NSE,BSE
|
Neutral |
+₹3
▲ ₹0
|
₹122
₹116–122
|
₹125 | +2.5% | 1.12× | Listed Mar 16, 2026 | GMP |
|
SR
Srinibas Pradhan Constructions IPO
Listed
SME
NSE
|
Neutral |
+₹0
▲ ₹0
|
₹98
₹91–98
|
₹98 | +0.0% | 1.13× | Listed Mar 13, 2026 | GMP |
|
EL
Elfin Agro India IPO
Listed
SME
BSE
|
Neutral |
+₹0
▲ ₹0
|
₹47 | ₹47 | +0.0% | 1.35× | Listed Mar 12, 2026 | GMP |
|
SE
SEDEMAC Mechatronics IPO
Listed
NSE,BSE
|
Neutral |
+₹85
▲ ₹12
|
₹1,352
₹1,287–1,352
|
₹1,437 | +6.3% | 2.68× | Listed Mar 11, 2026 | GMP |
|
AC
Acetech E-Commerce IPO
Listed
SME
NSE
|
Neutral |
+₹0
▲ ₹0
|
₹112
₹106–112
|
₹112 | +0.0% | 1.19× | Listed Mar 09, 2026 | GMP |
The Grey Market is an unofficial, unregulated market where IPO shares and applications are bought and sold before the IPO lists on BSE or NSE. Grey Market Premium (GMP) is the per-share premium above the issue price that buyers are willing to pay in this informal market. It is one of the most widely tracked pre-listing indicators among retail investors in India.
The per-share premium above the IPO issue price in the grey market. Expected listing price = Issue price + GMP. A higher GMP generally indicates stronger pre-listing demand.
The amount paid per IPO application in the grey market, regardless of whether shares are allotted. A high Kostak rate indicates strong demand for the IPO application itself.
Premium paid per application only if shares are allotted. Lower than Kostak but more closely tied to actual allotment value. Common in highly oversubscribed IPOs.
Estimated opening price on listing day, calculated as Issue Price + GMP. This is indicative only - actual listing price depends on market conditions and demand on the day.
Disclaimer
IPO GMP is unofficial and unregulated. It is subject to extreme volatility and can change significantly within hours. An investment decision based solely on GMP will prove risky. Always evaluate company fundamentals, SEBI filings, and consult a SEBI-registered financial advisor before investing.
GMP is 30% or more above issue price. Strong grey market demand with high investor interest across QIB, HNI, and Retail categories. IPO is expected to list significantly above the issue price, though actual listing may vary.
GMP is between 10–30% above issue price. Positive grey market sentiment with moderate listing gain expected. Subscription levels are typically healthy across most investor categories.
GMP is flat or marginally positive. Grey market activity is limited. IPO is expected to list near the issue price with little upside. Carry risk if GMP turns negative before listing.
GMP is negative - grey market buyers are bidding below the issue price. This signals weak demand and a possible listing at or below issue price. Listing loss risk is higher.
Grey Market Premium (GMP) is the price at which IPO shares are traded in the unofficial grey market before the IPO lists on BSE or NSE. It is the per-share premium above the issue price that grey market buyers are willing to pay. For example, if the issue price is ₹100 and GMP is ₹30, the expected listing price is ₹130. GMP is an informal indicator - it is not regulated by SEBI and should not be the sole basis for investment decisions.
GMP Seller Only means there are sellers in the grey market but no buyers willing to buy at that price - similar to a lower circuit condition. It typically indicates weak subscription, negative market sentiment, or heavy selling pressure. A "Seller Only" GMP often points to a listing at or below the issue price.
Kostak is the per-application premium that grey market dealers pay for an IPO application, regardless of whether shares are allotted or not. If you sell your IPO application at the Kostak rate, you receive that amount even if you do not get allotment. A higher Kostak rate indicates stronger grey market demand for the IPO.
Subject to Sauda (Sub2) is the premium paid for an IPO application only if shares are allotted. Unlike Kostak, the payment is conditional on successful allotment. Sub2 rates are typically lower than Kostak. This type of deal is more common in heavily oversubscribed IPOs where allotment probability is low.
GMP reflects grey market sentiment but is not a guaranteed predictor of actual listing price. It can change significantly within hours due to broader market conditions, subscription data, or sector news. IPO GMP is subject to extreme volatility. Many IPOs have listed significantly above or below their GMP. Use GMP as one data point alongside subscription figures, company fundamentals, and valuation before making any decision.
The expected listing price is calculated as: Issue Price + GMP = Expected Listing Price. For example, an IPO with an issue price of ₹150 and a GMP of ₹45 has an expected listing price of ₹195, implying a 30% gain. This is an indicative estimate based on grey market activity and may differ from the actual listing price on BSE/NSE.
GMP data on IPO Rise is updated daily from grey market sources. During active subscription periods, updates may occur multiple times a day. Each IPO's dedicated GMP page shows the "captured at" timestamp so you can see how recent the data is.