Aritas Vinyl Limited finally got listed at ₹47, at par with the issue price of ₹47, translating into a 0% listing premium. The GMP was reported at ₹0, indicating 0% over the issue price. The issue listed in line with GMP expectations.
IPO GMP Today – Grey Market Premium of Current & Latest IPOs
IPO Grey Market Premium (GMP) is an unofficial indicator that reflects demand for an IPO in the grey market before its listing. Many investors track the GMP of IPO today to understand prevailing market sentiment, even though such data is informal and not regulated by SEBI, NSE, or BSE. This page provides live IPO GMP information for current and upcoming issues and is updated daily, strictly for reference and informational purposes only.
Last Updated On-30.01.2026|6.01 PM (The IPO GMP data is latest and updated on all the working days)
IPO Name (SME/Mainboard) | Subscription Period | Issue Price (Rs.) | GMP Range (Rs.) | Trend | Sentiment | Listed Price |
|---|---|---|---|---|---|---|
06-10th Feb 2026 | ₹102 – ₹108 | Awaited | - | No Active GMP | Not listed | |
04-06th Feb 2026 | ₹83 – ₹88 | Awaited | - | No Active GMP | Not listed | |
6-8th Jan 2026 | 81 | 31 | ↑ | Listed far below expectation | 89 | |
Yajur Fibres Limited (SME) | 7-9th Jan 2026 | 174 | 0 | ↓ | Listed below expectation | 139.20 |
7-9th Jan 2026 | 41 | 0 | - | Listed below expectation | 34.45 | |
9-13th Jan 2026 | 74 | 17 | ↑ | Listed above expectation | 95 | |
9-13th Jan 2026 | 23 | 18.5 | ↑ | Listed above expectations | 45 | |
Avana Electrosystems (SME) . | 12-14th Jan 2026 | 59 | 10.5 | Listed above expectation | 77.5 | |
12-15th Jan 2026 | 515 | 0 | - | Listed below expectation | 495 | |
13-15th Jan 2026 | 149 | 10 | ↓ | Listed below expectation | 149 | |
GRE Renew Enertech(SME) | 13-16th Jan 2026 | 105 | 1 | ↓ | Listed below expectation | 96 |
13-16th Jan 2026 | 361 | -1 | ↓ | Listed below expectation | 318 | |
14-19th Jan 2026 | ₹55 – ₹57 | 0 | ↓ | Listed below expectations | 45.6 | |
Aritas Vinyl Limited (SME) | 16-20th Jan 2026 | ₹40 – ₹47 | 0 | ↓ | Listed in line with expectations | 47 |
19-21th Jan 2026 | 135 | 22.5 | ↑ | Listed above expectations | 172.1 | |
20-22th Jan 2026 | ₹118 – ₹124 | -3.5 | ↓ | Listed below expectations | 112.6 | |
20-22th Jan 2026 | ₹98 – ₹104 | 0 | ↓ | Listed below expectation | 83.2 | |
22-28th Jan 2026 | ₹67 – ₹70 | 2 | - | Positive pre-issue buzz | Not listed | |
22-27th Jan 2026 | ₹140 – ₹144 | 4 | ↑ | Listed below expectations | 144 | |
26-30th Dec 2025 | 174 | 145-162 | - | Listed close to expectations | 330.6 | |
27-29th Jan 2026 | ₹61 – ₹64 | Awaited | - | No Active GMP | Not listed | |
04-06th Feb 2026 | ₹52 – ₹55 | Awaited | - | No Active GMP | Not listed | |
28-30th Jan 2026 | ₹122 – ₹129 | 3 | - | No Active GMP | Not listed | |
28-30th Jan 2026 | 73 | 3 | ↑ | Positive pre-issue buzz | Not listed | |
28-30th Jan 2026 | ₹116 – ₹123 | 26 | ↑ | Positive pre-issue buzz | Not listed | |
30-3rd Feb 2026 | ₹155 – ₹163 | Awaited | - | No Active GMP | Not listed | |
31-2nd Jan 2026 | 90 | 14 | - | Listed below expectation | 99.5 |
“GMP (Grey Market Premium) is an unofficial and unregulated indicator. Don't consider it as any investment advice."
IPO GMP Today – January 2026 Commentary
1. E to E Transportation Infrastructure Limited (ETIL) GMP Vs Listing
The GMP was in the range of ₹145–₹162, pointing to a premium of up to 93% over the issue price of ₹174. The IPO finally listed at ₹330.60, giving around a 90% gain. The listing was slightly lower than the highest GMP estimate but overall remained in line with grey market expectations
2. Modern Diagnostic & Research Centre (SME) GMP Vs Listing
GMP was around ₹14, implying a 15.56% premium over the issue price.
The IPO listed at a 10.56% premium, delivering positive returns but below grey market expectations.
3. Gabion Technologies India Limited (GTIL) (SME) GMP Vs Listing
Gabion Technologies India Limited GMP was hovering around ₹31. The issue price was ₹81 at the upper price band, which meant the GMP was roughly a 38.3% premium to the issue price. The issue received a huge subscription of 768.12×.
However, Gabion Technologies finally listed at ₹89, which is ₹8 above the upper band of the issue price—translating to only a 9.88% premium to the issue price. This was far below the GMP.
This clearly proves that GMP is not a reliable indicator of the listing price and should never be treated as a promise of listing gains.
4. Defrail Technologies Limited (SME) GMP Vs Listing
It is witnessing a positive GMP trend, with grey market premium at around ₹17 on an issue price of ₹74, reflecting improving market sentiment.
Defrail Technologies Limited finally got listed at ₹95 against its upper band issue price of ₹74, delivering a listing premium of ₹21 or 28.38%.
The grey market premium (GMP) was around ₹17 or ~23%, but the stock outperformed GMP expectations, listing higher than anticipated.
5. Yajur Fibres Limited GMP Vs Listing
It had a GMP of ₹0, reflecting neutral grey market sentiment. The IPO listed at ₹139.20 against an issue price of ₹174, which is around 20% below the issue price
6. Victory Electric Vehicles GMP Vs Listing
Victory Electric Vehicles had a GMP of ₹0, indicating a neutral grey market sentiment. However, the issue listed at ₹34.45, which is around 16% below its issue price.
7. Bharat Coking Coal Limited GMP Vs Listing
It is witnessing positive grey market sentiment, with the current GMP at around ₹18.5.
Finally, Bharat Coking Coal Ltd (BCCL) listed at ₹45 against the issue price of ₹23 (upper band). The GMP was rumored to be around ₹18.5, or about 78.26% premium to the issue price. But the stock surprised everyone by listing at ₹45 — a premium of 95.65%, much higher than the expected GMP.
8. Narmadesh Brass Industries Limited GMP Vs Listing
It is at a GMP of ₹0, reflecting neutral sentiment in the grey market. Listing performance remains to be seen.
Narmadesh Brass Industries finally got listed at ₹495, or ₹20 below the issue price of ₹515, which is a 3.88% discount to the issue price.
The GMP was ₹0, or 0% to the issue price. The issue listed below GMP expectations.
9. Avana Electrosystems Limited GMP Vs Listing
It is having a positive GMP sentiment, indicating strong interest in the issue. The current GMP is around ₹10.5 on an issue price of ₹59. However, GMP levels may move up or down, and listing day will be the final decision point.
Avana Electrosystems Limited finally got listed at ₹77.5, or ₹18.5 above the issue price of ₹59, which is a 31.35% premium to the issue price.
The GMP was ₹10.5, or 17.8% above the issue price. The issue listed above GMP expectations.
10. Indo SMC Limited GMP Vs Listing
It is having a GMP of around ₹10 on an issue price of ₹149, indicating positive sentiment in the grey market.
Indo SMC Limited finally got listed at ₹149, or ₹0 above the issue price of ₹149, which is a 0% premium to the issue price.
The GMP was ₹10, or 6.71% above the issue price.
The issue listed below GMP expectations.
11. GRE Renew Enertech GMP Vs Listing
It is seeing a GMP of around ₹1 on an issue price of ₹105, reflecting positive grey market sentiment. How this sentiment translates into actual performance will be clear as events unfold.
GRE Renew Enertech finally got listed at ₹96, or ₹9 below the issue price of ₹105, which is an 8.57% discount to the issue price.
The GMP was ₹1, or 0.95% above the issue price. The issue listed below GMP expectations.
12. Amagi Media Labs Limited GMP Vs Listing
It is seeing a GMP of around ₹-1 on an issue price of ₹361, indicating negative grey market sentiment.
Amagi Media Labs Limited finally got listed at ₹318, or ₹43 below the issue price of ₹361, which is an 11.91% discount to the issue price.
The GMP was ₹-1, or 0.28% below the issue price.
The issue listed below GMP expectations
13. Armour Security (India) Limited GMP Vs Listing
It is seeing some movement in the grey market, with the current GMP at around ₹0 on an issue price of ₹57. How this develops over time remains to be seen.
Armour Security (India) Limited finally got listed at ₹45.60, which is ₹11.40 below the issue price of ₹57 (upper band). This translates to a listing discount of ~20% to the issue price.
The GMP was rumoured at ₹0, or 0% above the issue price. The issue listed below GMP expectations.
14. Aritas Vinyl Limited (AVL) GMP Vs Listing
It is at a GMP of ₹0, reflecting positive sentiment in the grey market. Let us see how the numbers unfold overtime. Listing performance remains to be seen.
15. Shadowfax Technologies Limited GMP Vs Listing
Shadowfax Technologies Limited was trading at a grey market premium (GMP) of around ₹16 but which has now gone up slightly from ₹ -4.1 to -3.5, indicating a negative grey market sentiment. The final outcome will be known on listing.
Shadowfax Technologies Limited finally got listed at ₹112.6, or ₹11.4 below the issue price of ₹124, which is a ~9.2% discount to the issue price. The GMP was ₹-3.5, or ~2.8% below the issue price. The issue listed below GMP expectations.
16. KRM Ayurveda Limited GMP Vs Listing
KRM Ayurveda Limited GMP was ₹ 21. which has gone down to ₹ 12 and now gone up to 16 and now it is at 15 and it has moved one more upward move and reached to 17. And Now it has moved from 20 to 21 Rs and again to 22.5. Which shows positive pre market buzz. (21→12→16→15→17→20→21→22.5).
KRM Ayurveda Limited finally got listed at ₹172.1, or ₹37.1 above the issue price of ₹135, which is a ~27.5% premium to the issue price. The GMP was ₹22.5, or ~16.7% above the issue price. The issue listed above GMP expectations.
17. Digilogic Systems Limited GMP Vs Listing
Digilogic Systems Limited GMP is ₹0 on an issue price of ₹104, indicating a neutral sentiment in the grey market. Let us see how the numbers unfold over time.
Digilogic Systems Limited finally got listed at ₹83.2, or ₹20.8 below the issue price of ₹104, which is a ~20.0% discount to the issue price.
The GMP was ₹0, or 0% over the issue price. The issue listed well below GMP expectations.
18. Hannah Joseph Hospital Limited (HJHL) GMP Vs Listing
Hannah Joseph Hospital Limited (HJHL) has a GMP of ₹0 and now it has gone up to 2, indicating positive sentiment in the grey market. Let us see how this unfolds over time.
19. Accretion Nutraveda Limited GMP Vs Listing
Accretion Nutraveda Limited has now reported GMP of 3 Rs indicating positive sentiment in the grey market.
20. Kasturi Metal Composite Limited GMP Vs Listing
Kasturi Metal Composite Limited has no reported GMP indicating neutral sentiment in the grey market.
21. NFP Sampoorna Foods Limited GMP Vs Listing
NFP Sampoorna Foods Limited has no reported GMP indicating neutral sentiment in the grey market.
22. Msafe Equipments Limited GMP Vs Listing
Msafe Equipments Limited GMP was ₹7 and gone up to 11 and again moved up to 14 and then from 14 to 20 Rs and now moved from 20 to 23 and now from 23 to 25 and now 25 to 26 on an issue price of ₹123, indicating a positive sentiment in the grey market. Let us see how the numbers unfold over time.
23. C K K Retail Mart Limited GMP Vs Listing
C K K Retail Mart Limited has no reported GMP indicating neutral sentiment in the grey market.
24. Kanishk Aluminium India Limited GMP Vs Listing
Kanishk Aluminium India Limited has GMP of 3 indicating positive sentiment in the grey market.
25. Shayona Engineering Limited (SEL) SME GMP Vs Listing
Shayona Engineering Limited (SEL) has GMP of 4 indicating the positive sentiment in the grey market. Shayona Engineering Limited finally got listed at ₹144, which is at par with the issue price of ₹144. The GMP was ₹4, or around 2.8% above the issue price, but the issue listed below GMP expectations.
26. Grover Jewells Limited GMP Vs Listing
What is IPO Grey Market Premium (GMP)?
As described by the Oxford Dictionary, the grey market refers to the buying and selling of stocks or securities before they are officially issued or listed on the stock exchange. In the context of an IPO, a company announces an issue price, but the listing price remains unknown until the shares are officially listed.
This gap is where the grey market comes into play. Based on demand in local unofficial markets, market participants estimate the likely listing price of the stock. This estimated price can be higher, lower, or fluctuate relative to the IPO issue price depending on subscription levels, market sentiment, and overall conditions.
The difference between this estimated price and the IPO issue price is known as the IPO Grey Market Premium (GMP). Since grey market transactions are unofficial and unregulated, the GMP is not verified by SEBI, NSE, or BSE and should not be solely relied upon for investment decisions. It is best used only as a reference indicator to understand market expectations before listing.
Read our detailed beginner’s guide on IPO Grey Market Premium (GMP) to understand how it works, examples, formula, risks, and historical listing outcomes.
How Accurate is GMP?
While GMP is often discussed as a predictor of listing price, its accuracy varies widely across IPOs. In some cases, GMP closely matches the opening price, while in others it either overestimates or underestimates actual demand.
To understand how GMP accuracy should be measured, what counts as a success or failure, and how real IPOs have behaved in 2025, we have analysed multiple listings with practical examples in a dedicated article.
Read the detailed analysis here: How Accurate Is IPO Grey Market Premium in Predicting Listing Price?
Is Grey Market Premium (GMP) a Reliable Indicator?
Grey Market Premium (GMP) is often tracked by retail investors to gauge early demand for an IPO, but its accuracy as a predictor of listing performance is limited. While a high GMP may indicate strong speculative interest and potential listing gains, it is largely driven by sentiment, hype, and informal expectations, rather than verified demand or company fundamentals.
The grey market is unregulated and non-binding, meaning prices can be easily influenced or manipulated. There have been several instances where IPOs with strong GMP failed to deliver expected listing gains, while others with flat or negative GMP surprised investors with strong listings. This highlights that GMP reflects short-term speculation, not long-term value or guaranteed outcomes.
As a result, GMP should be treated as a signal, not a decision-making tool. Investors are better served by combining GMP data with subscription trends, financial analysis, and overall market conditions rather than relying on it in isolation.
Read our detailed analysis on whether investing based on IPO Grey Market Premium is a good strategy, including real Indian IPO case studies, risks, and expert verdict.
Why Grey Market IPO Premium Goes Up or Down?
Many times, we see that the Grey Market Premium (GMP), which was once at a certain level, moves to X+10 or X−10 or any other value. These movements are purely based on predictions. As already stated, GMP is not a regulated parameter and is completely outside any formal calculation.
So, if in the grey market a stock starts receiving positive sentiment, its GMP goes up, and when it receives negative sentiment, the number comes down. Also, as we have already explained in the previous section on how accurate GMP is, we have presented real IPO examples where the predicted GMP and the actual listing prices were not the same.
Therefore, when you see that an IPO’s GMP has gone up or down, you do not need to worry about it. It is ultimately the listing price that decides whether you make a gain or incur a loss relative to the issue price.
Top IPOs with Highest Grey Market Premiums in Recent Years
Over the years, several IPOs have witnessed exceptionally high Grey Market Premiums, reflecting strong pre-listing sentiment among investors. To understand how such IPOs actually performed post-listing, we have analysed the top IPOs with the highest GMP in the last five years, comparing grey market expectations with real listing outcomes.
Read the full analysis here:
Top IPOs with the Highest Grey Market Premium in the Last 5 Years
IPO GMP Frequently Asked Questions
1. What is IPO Grey Market Premium?
The grey market refers to an unofficial market, and the grey market premium represents the expected extra price over the issue price at which the IPO is expected to list. For example, if the issue price is 200 rupees and the grey market premium is 50 rupees, then the IPO is expected to list at around 250 rupees, or at a 25% premium to the issue price. However it is not regulated by NSE/BSE and it solely reflects investor demands.
2. How is Grey Market IPO Price calculated?
Grey Market IPO Price = Issue Price + GMP.
So, if the issue price is ₹100 and the GMP is ₹20, then the Grey Market IPO Price will be ₹120.
3. Is Grey Market of IPO legal in India?
The grey market for IPOs is not regulated, so it works as an unofficial indicator of the expected listing price. It is neither fully legal nor illegal — it simply reflects the sentiment of investors who trade unofficially before the IPO is listed.
4. How reliable is Grey Market IPO Premium?
GMP is mostly guesswork based on market sentiment. It can be right or wrong, and since it is completely unofficial and unregulated, it should not be considered a guaranteed indicator.
5. Where can I check live IPO GMP?
There is no official channel or website to check live IPO GMP, as it operates entirely outside regulated markets.
Important Resources and Links
1. You can track all the upcoming, live, listed and closed IPOs at our IPO calendar hub page which is updated regularly.
2. Check the subscription of all the IPOs at our IPO subscription status hub page which is detailed.
3. Check the allotment status of all the IPOs at IPO allotment status hub page.
4. For graphical representation of IPOs visit our IPO Infographic hub page.
5. For investors who are interested in IPO investing may be interested in mutual funds, our mutual fund learning platform is a good place to start with.
6. Even a small investments if done with discipline for the long term can yield handsome corpus, our SIP calculator can help you out in finding how a small sum can become a large corpus in long term.
7. Our Retirement Calculator helps you estimate the corpus needed to maintain your lifestyle after retirement.
8. Struggling with loans or EMIs? Our How to Get Out of Debt guide explains practical ways to become debt-free.
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The Grey Market Premium (GMP) shown on MrMoneyFrugal is an unofficial and unregulated indicator, based on informal grey market data and shared only to reflect market sentiment. This is not investment advice or a recommendation. Investors should refer to the RHP and consult a SEBI-registered advisor before investing.