IPO GMP Today

GMP (Grey Market Premium) is the per-share price at which IPO shares change hands in the unofficial grey market before listing on NSE or BSE. Think of it as a live poll of what serious buyers are willing to pay right now, before allotment or listing.

A GMP of ₹50 on an IPO priced at ₹200 implies an expected listing of ₹250, a 25% gain. Negative GMP means the market expects a loss on listing day.

GMP is not regulated by SEBI and can be manipulated. Treat it as one data point, not a guarantee.

Negative GMP (also called a grey market discount) means sellers are accepting below the issue price in the grey market. It almost always signals that listing at a loss is likely.

For example, a GMP of −₹30 on a ₹100 IPO suggests the market expects listing around ₹70. If you see strong negative GMP two days before listing, consider your options carefully, especially if you plan to sell on listing day.

Simple formula: Expected Listing Price = Issue Price + GMP.

If an IPO has an issue price of ₹150 and current GMP is ₹45, the grey market implies a listing at ₹195, roughly 30% gain. The gain percentage shown on this page is calculated the same way. Actual listing on NSE/BSE may differ.

GMP is driven by real-time sentiment. The biggest triggers: day-3 subscription data (especially QIB and HNI portions), anchor investor lock-in disclosures, broader Nifty/Sensex moves, and operator positioning before listing day.

Swings of ±₹20–50 in a single day are completely normal during the bidding window. A GMP that looks good on Day 1 of subscription can reverse sharply by Day 3.