web analytics

IPO GMP Today – Grey Market Premium of Current, Upcoming and Closed IPOs of 2026


Last Updated On-17.07.2026|1:00 PM (Latest IPO GMP (Grey Market Premium) – Live Data)


IPO Name(Mainboard/SME)Subscription PeriodIssue Price (Rs)GMP TrendSentimentListed Price
Xtranet Technologies Mainboard13Positive Pre market buzzNot listed
Shree Balaji (Mala) Textiles SME22 – 24 July 2026₹66 – ₹7019Positive Pre market buzzNot listed
Cube Highways Trust InvIT22 – 24 July 2026₹151 - ₹1520-Neutral Pre market buzzNot listed
Metalic Technoforge SME21 – 23 July 2026₹72 – ₹770-Neutral Pre market buzzNot listed
Gulf Lloyds (India) SME20 – 22 July 2026₹10011Positive Pre market buzzNot listed
Caliber Mining and Logistics Mainboard17 – 21 July 2026₹402 – ₹424102Positive Pre market buzzNot listed
Sotefin Bharat SME16 – 20 July 2026₹178 – ₹18718Positive Pre market buzzNot listed
Alpine Texworld Mainboard 14 – 16 July 2026₹100 – ₹1051Positive Pre market buzzNot listed
Millworks Technologies SME14 – 16 July 2026₹315 – ₹331400Positive Pre market buzzNot listed
SBI Funds Management Mainboard14 – 16 July 2026₹545 – ₹57497Positive Pre market buzzNot listed
Laser Power & Infra Mainboard09 – 13 July 2026₹203 – ₹21439( 0 L | 44 H)Listed below GMP expectations₹250
Devson Catalyst SME09 – 13 July 2026₹112 – ₹11849( 0 L | 51 H)Listed above GMP expectations₹196.15
Happy Steels 09 – 13 July 2026₹62 – ₹6610( 0 L | 14 H)Listed below GMP expectations₹68
Kusumgar Mainboard08 – 10 July 2026₹398 – ₹419161( 0 L | 173 H)Listed below GMP expectations₹569
IC Electricals SME
03 – 07 July 2026₹94 – ₹9947( 0 L | 55 H)Listed above GMP expectations₹166
Knack Packaging Mainboard01– 03 July 2026₹161 – ₹1708.5( 0 L | 33 H)Listed above GMP expectations₹188
Vinit Mobile SME30 June – 02 July 2026₹150 – ₹1580( 0 L | 31 H)Listed below GMP expectations₹155
Teja Engineering Industries SME30 June – 02 July 2026₹22036( 0 L | 36 H)Listed above GMP expectations₹418
Seemax Resources SME30 June – 02 July 2026₹134 – ₹1410( 0 L | 0 H)Listed below GMP expectations₹112.8
Sampark India Logistics SME30 June – 02 July 2026₹80 – ₹842.5( 0 L | 2.5 H)Listed above GMP expectations₹89
Kratikal Tech SME30 June – 02 July 2026₹128 – ₹13578( 0 L | 78 H)Listed below GMP expectations₹192
Atharva Polyplast SME30 June – 02 July 2026₹55 – ₹6010( 0 L | 10 H)Listed below GMP expectations₹69
Adon Agro Commodities SME29 June – 01 July 2026₹66 – ₹700( 0 L | 0 H)Listed above GMP expectations₹78.25
Astha Spintex Mainboard29 June – 01 July 2026₹126 – ₹1364( 0 L | 6 H)Listed below GMP expectations₹130
Crazy Snacks SME25– 30 June 2026₹39 – ₹420( 0 L | 0 H)Listed above GMP expectations₹44
CSM Technologies Mainboard24– 29 June 2026₹107 – ₹1130( 0 L | 4 H)Listed in line with GMP expectations₹113
Shreedhar Spinners SME23– 25 June 2026₹50 – ₹530( 0 L | 0 H)Listed above GMP expectations₹54.40
Jivial Industries SME23– 25 June 2026₹1960( 0 L | 0 H)Listed below GMP expectations₹156.8
Cordelia Cruises (Waterways Leisure Tourism Limited) Mainboard23– 25 June 2026₹769 – ₹808-51( -51 L | 54 H)Listed below GMP expectations₹681
Advit Jewels Mainboard23– 25 June 2026₹130 – ₹13850( 0 L | 101 H)Listed above GMP expectations₹188.90
Turtlemint Fintech Mainboard19– 23 June 2026₹144 – ₹152-5( -5 L | 18 H)Listed below GMP expectations₹134.9
Anubhav Plast SME19– 23 June 2026₹77 – ₹800( 0 L | 0 H)Listed in line with GMP expectations₹80
Riyaasat Lifestyle SME18– 22 June 2026₹102 – ₹1080( 0 L | 0 H)Listed below GMP expectations₹84.8
Avience Biomedicals SME18– 22 June 2026₹196-₹208145( 0 L | 145 H)Listed above GMP expectations₹395.20
Diksha Polymers SME17– 19 June 2026₹1120( 0 L | 0 H)Listed above GMP expectations₹114.50
Clay Craft SME17– 19 June 2026₹193 – ₹20335( 0 L | 76 H)Listed below GMP expectations₹211
Leapfrog Engineering SME17– 19 June 2026₹21 – ₹230( 0 L | 02 H)Listed below GMP expectations.₹22
Liotech Industries SME17– 19 June 2026₹3210( 0 L | 51 H)Listed below GMP expectations₹257
Horizon Reclaim (India) SME12– 16 June 2026₹98 – ₹10375( 0 L | 75 H)Listed below GMP expectations151
Susan Electricals India SME11– 15 June 2026₹120 – ₹12743( 0 L | 63 H)Listed above GMP expectations₹186
Utkal Speciality Industries SME10– 12 June 2026₹62 – ₹660( 0 L | 13 H)Listed in line with GMP expectations₹66
Genxai Analytics SME05– 09 June 2026₹110 – ₹1161( 0 L | 15 H)Listed below GMP expectations₹92.8
Hexagon Nutrition Mainboard05– 09 June 2026₹42 – ₹454( 0 L | 13 H)Listed below GMP expectations₹48.25
UHM Vacation SME04– 08 June 2026₹157 – ₹1660( -6 L | 10 H)Listed below GMP expectations₹132.80
Vahh Chemicals SME04– 08 June 2026₹607( 0 L | 15 H)Listed above GMP expectations₹70
CMR Green Technologies Mainboard03– 05 June 2026₹182 – ₹19267( 20 L | 75 H)Listed above GMP expectations₹268
Merritronix 01– 03 June 2026₹141 – ₹14967( 20 L | 75 H)Listed above GMP expectations₹283.1
Aureate Tradde SME29 May -02 June 2026₹701( 0 L | 12 H)Listed below GMP expectations₹70
Rajnandini Fashion India SME26-29 May 2026₹59 – ₹637( 0 L | 10 H)Listed below GMP expectations₹63
SMR Jewels SME26-29 May 2026₹128 – ₹135
₹125 – ₹128
0( 0 L | 0 H)Listed below GMP expectations₹102.95
Yaashvi Jewellers Limited SME25-27 May 2026₹830( 0 L | 0 H)Listed in line with GMP expectations₹83
M R Maniveni Foods SME22-26 May 2026₹51 – ₹520( 0 L | 0 H)Listed below GMP expectations₹42.55
Q-Line Biotech SME21-25 May 2026₹326 – ₹343125( 45 L | 143 H)Listed below GMP expectations₹452
Bio Medica Laboratories SME21-25 May 2026₹132 – ₹139-5( -5 L | 4 H)Listed below GMP expectations₹111.2
Autofurnish SME21-25 May 2026₹410( 0 L | 0 H)Listed above GMP expectations₹43
Vegorama Punjabi Angithi SME20-22 May 2026₹73 – ₹779( 0 L | 15 H)Listed above GMP expectations₹118.1
Harikanta Overseas SME20-22 May 2026₹85-₹910( 0 L | 0 H)Listed below GMP expectations₹79.75
Teamtech Formwork SME19-21 May 2026₹61 – ₹635( 0 L | 5 H)Listed above GMP expectations₹75
NFP Sampoorna Foods SME18-20 May 2026₹52- ₹550( 0 L | 8 H)Listed below GMP expectations₹54.5
Goldline Pharmaceutical SME12-14 May 2026₹41 – ₹4317( 0 L | 27 H)Listed below GMP expectations₹59.75
RFBL Flexi Pack SME12-14 May 2026₹47 – ₹502( 0 L | 5 H)Listed above GMP expectations₹52.5
Simca Advertising SME08-12 May 2026₹174 – ₹1832( 0 L | 34 H)Listed below GMP expectations₹156
Bagmane Prime Office REIT05-07 May 2026₹95.00 – ₹1004( 0 L | 5 H)Listed below GMP expectations₹103.5
Recode Studios SME05-07 May 2026₹150 – ₹15850( 0 L | 52 H)Listed above GMP expectations₹213.10
Value 360 Communications SME04-06 May 2026₹95 – ₹981( 0 L | 5 H)Listed below GMP expectations₹78.4
Kissht SME IPO 30 April-05 May 2026₹162 – ₹17122( 0 L | 26 H)Listed below GMP expectations₹190
Amba Auto Sales & Services SME27-29 April 2026₹130 – ₹1350( 0 L | 0 H)Listed below GMP expectations₹134.50
Adisoft Technologies SME23-27 April 2026₹163 – ₹17221( 0 L | 21 H)Listed above GMP expectations₹205
Citius TransNet InvIT17-21 April 2026₹99 – ₹1004( 0 L | 4 H)Listed above GMP expectations.₹104.6
Mehul Telecom SME17-21 April 2026₹96 – ₹984( 0 L | 5 H)Listed above GMP expectations₹108
Om Power Transmission Mainboard09-13 April 2026₹166 – ₹1754( 0 L | 6 H)Listed above GMP expectations₹186
Safety Controls & Devices SME06-08 April 2026800( 0 L | 0 H)Listed above GMP expectations83
Emiac Technologies Limited SME27-08 April 2026980( 0 L | 0 H)Listed above GMP expectations107.8
Vivid Electromech SME25-30 Mar 20265550( 0 L | 0 H)Listed above GMP expectations565
Highness Microelectronics SME24-27 Mar 202612025( 0 L | 30 H)Listed below GMP expectations125
Amir Chand Jagdish Kumar (Exports) Limited Mainboard24-27 Mar 20262122( -4 L | 8 H)Listed below GMP expectations200
Powerica Limited Mainboard24-27 Mar 20263950( 0 L | 12 H)Listed below GMP expectations366
Sai Parenteral’s Limited Mainboard24-27 Mar 2026392 0( 0 L | 0 H)Listed above GMP expectations400
Tipco Engineering India Limited SME23-25 Mar 2026890( 0 L | 0 H)Listed above GMP expectations89.25
Speciality Medicines SME20-24 Mar 20261240( 0 L | 0 H)Listed in line with GMP expectations124
Central Mine Planning & Design Institute Limited (CMPDIL) Mainboard20-24 Mar 20261724( 0 L | 22 H)Listed below GMP expectations160
Novus Loyalty Limited SME17-20 Mar 20261460( 0 L | 0 H)Listed in line with GMP expectations146
GSP Crop Science Mainboard16-18 Mar 20263202( 0 L | 2 H)Listed above GMP expectations328
Apsis Aerocom Limited SME11-13 Mar 202611025( 0 L | 25 H)Listed above GMP expectations153
Raajmarg Infra InvIT Mainboard11-13 Mar 20261003.5( 0 L | 5 H)Listed above GMP expectations107
Innovision Limited Mainboard10-17 Mar 2026548-85( -98 L | 64 H)Listed in line with GMP expectations467.7
Rajputana Stainless Mainboard09-11 Mar 20261223( 0 L | 3 H)Listed below GMP expectations122
Srinibas Pradhan Constructions SME06-10 Mar 2026980( 0 L | 0 H)Listed above GMP expectations100.05
Elfin Agro India SME05-09 Mar 2026470( 0 L | 0 H)Listed above GMP expectations47.3
Sedemac Mechatronics Mainboard 04-06 Mar 20261,3520( -30 L | 130 H)Listed above GMP expectations1,535
Acetech E-Commerce SME27 Feb-04 Mar 20261120( 0 L | 0 H)Listed in line with GMP expectations112
Striders Impex SME26 Feb-02 Mar 2026720( 0 L | 0 H)Listed below GMP expectations70
Omnitech Engineering SME25-27th Feb 2026227-10( -10 L | 16 H)Listed above GMP expectations202
Yaap Digital SME25-27th Feb 20261450( 0 L | 4 H)Listed below GMP expectations127
PNGS Reva Diamond Jewellery Mainboard24-26th Feb 2026386-20( -21 L | 30 H)Listed above GMP expectations375
Mobilise App Lab SME23-25th Feb 2026804( 4 L | 16 H)Listed below GMP expectations64.1
Accord Transformer & Switchgear SME23-25th Feb 2026464( 4 L | 17 H)Listed in line with GMP expectations50
Shree Ram Twistex Mainboard23-25th Feb 2026104-28(-30 L | 18 H)Listed below GMP expectations68
Kiaasa Retail SME23-25th Feb 20261270(0 L | 26 H)Listed below GMP expectations123
Clean Max Enviro Energy Mainboard23-25th Feb 20261,053-35(-35 L | 29 H)Listed below GMP expectations960
Manilam Industries SME20-24th Feb 202669 0(0 L | 0 H)Listed below GMP expectations55.2
Gaudium IVF Mainboard20-24th Feb 2026790(-4 L | 15 H)Listed above GMP expectations.83
Yashhtej Industries (India) SME18-20th Feb 20261100(0 L | 23 H)Listed below GMP expectations88
Fractal Industries SME16-18th Feb 20262168(0 L | 8 H)Listed above GMP expectations229
Marushika Technology SME12-16th Feb 20261172Listed above GMP expectations120
Aye Finance (Mainboard)09-11th Feb 2026129-2Listed above GMP expectations129
Fractal Analytics (Mainboard)09-11th Feb 2026900-28Listed above GMP expectations876
PAN HR Solution SME06-10th Feb 2026780-Listed above GMP expectations78.35
Brandman Retail SME04-06th Feb 202617617Listed below GMP expectations183
Grover Jewells SME04-06th Feb 2026880Listed above GMP expectations96
Biopol Chemicals SME06-10th Feb 20261081Listed above GMP expectations111
Hannah Joseph Hospital SME22-28th Jan 2026702-Listed below expectations65
Kasturi Metal Composite SME27-29th Jan 2026642-Listed below GMP expectations64
Accretion Nutraveda SME28-30th Jan 202612968Listed close to GMP expectations.191
Kanishk Aluminium India SME28-30th Jan 2026730-Listed below GMP expectations58.4
Msafe Equipments SME28-30th Jan 202612321Listed in line with or close to GMP expectations144
C K K Retail Mart SME30-3rd Feb 20261630-Listed in line with GMP expectation.163
Dhanwel Hybrid Seeds SME24– 29 June 2026₹95 – ₹990-Neutral Pre market buzzNot listed
Sri Priyanka Geo Commex SME24– 29 June 2026₹207 - ₹2120-Neutral Pre market buzzWithdrawn
Twinkle Papers29 June – 01 July 2026₹64 – ₹690-Neutral Pre market buzzNot listed


Here L=Low, H- High.

 “GMP (Grey Market Premium) is an unofficial and unregulated indicator. Don't consider it as any investment advice."

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.

How accurate is IPO GMP in predicting listing gains?

We analyzed 68 IPOs of 2026 .Explore Our GMP vs Listing Accuracy Study 2026.

For a broader understanding of IPO performance including valuation, listing trends, and data analysis, explore our IPO Market Analytics & Research.


IPO GMP Today – JULY 2026 Commentary

1. Advit Jewels Ltd GMP Vs Listing

Advit Jewels Ltd finally got listed at ₹188.90, or ₹50.90 above the issue price of ₹138, which is a 36.88% premium to the issue price. The GMP was ₹50, or 36.23% above the issue price. The issue listed slightly above GMP expectations.

The GMP movement showed exceptionally strong investor interest, reaching triple-digit levels before gradually cooling closer to listing: ₹0 → ₹55 → ₹72 → ₹85 → ₹90 → ₹97 → ₹101 → ₹90 → ₹86 → ₹91 → ₹92 → ₹93 → ₹85 → ₹80 → ₹88 → ₹83 → ₹74 → ₹80 → ₹75 → ₹78 → ₹74 → ₹64 → ₹59 → ₹62 → ₹65 → ₹64 → ₹56 → ₹57 → ₹67 → ₹64 → ₹60 → ₹51 → ₹54 → ₹55 → ₹53 → ₹56 → ₹53 → ₹61 → ₹64 → ₹65 → ₹60 → ₹64 → ₹58 → ₹56 → ₹55 → ₹51 → ₹52 → ₹61 → ₹56 → ₹44 → ₹46 → ₹49 → ₹51 → ₹52 → ₹50.

2. Dhanwel Hybrid Seeds Limited GMP Vs Listing

Dhanwel Hybrid Seeds Limited GMP movement (0)

3. Shreedhar Spinners Limited GMP Vs Listing

Shreedhar Spinners finally got listed at ₹54.40, or ₹1.40 above the issue price of ₹53, which is a 2.64% premium to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed above GMP expectations.

4. Waterways Leisure Tourism Limited GMP Vs Listing

Waterways Leisure Tourism Limited (Cordelia Cruises) finally got listed at ₹681, or ₹127 below the issue price of ₹808, which is a 15.72% discount to the issue price. The GMP was ₹-51, or -6.31% below the issue price. The issue listed below GMP expectations. The GMP movement showed a dramatic deterioration in sentiment, moving from a strong premium to a deep discount before listing: ₹0 → ₹54 → ₹45 → ₹20 → ₹18 → ₹26 → ₹24 → ₹18 → ₹12 → ₹10 → ₹12 → ₹9 → ₹6 → ₹3.5 → ₹5 → ₹3 → ₹-8 → ₹-35 → ₹-36 → ₹-46 → ₹-47 → ₹-51.

5. CSM Technologies Limited GMP Vs Listing

CSM Technologies Limited finally got listed at ₹113, or ₹0 above the issue price of ₹113, which is a 0% premium to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed in line with GMP expectations.

The GMP movement showed brief positive sentiment before returning to neutral levels: ₹0 → ₹4 → ₹0.

6. Jivial Industries Limited GMP Vs Listing

Jivial Industries Limited finally got listed at ₹156.8, or ₹39.2 below the issue price of ₹196, which is a 20.00% discount to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed below GMP expectations.

7. IC Electricals GMP Vs Listing

IC Electricals Company Limited finally got listed at ₹166.00, or ₹67.00 above the issue price of ₹99.00, which is a 67.68% premium to the issue price. The GMP was ₹42, or 42.42% above the issue price. The issue listed well above GMP expectations. The GMP movement showed strong and sustained bullish sentiment throughout the period, with premiums consistently remaining above ₹20 and peaking at ₹55: ₹0 → ₹25 → ₹30 → ₹28 → ₹20 → ₹30 → ₹32 → ₹31 → ₹28 → ₹40 → ₹42 → ₹45 → ₹47 → ₹55 → ₹45 → ₹49 → ₹40 → ₹42 → ₹40 → ₹44 → ₹40 → ₹45 → ₹42.

8.Sri Priyanka Geo Commex Limited GMP Vs Listing

Sri Priyanka Geo Commex Limited GMP movement (0)

9. Twinkle Papers Limited GMP Vs Listing

Twinkle Papers Limited GMP movement (0→6→7.5→7→8→5→8→2→0)

10. Atharva Polyplast Limited GMP Vs Listing

Atharva Polyplast finally got listed at ₹69.00, or ₹9.00 above the issue price of ₹60.00, which is a 15.00% premium to the issue price. The GMP was ₹10, or 16.67% above the issue price. The issue listed slightly below GMP expectations.

The GMP movement showed consistently positive sentiment, with premiums remaining in a healthy range throughout the period: ₹0 → ₹10 → ₹9 → ₹7 → ₹8 → ₹6 → ₹4 → ₹2.5 → ₹3.5 → ₹5.5 → ₹10 → ₹9 → ₹8 → ₹10.

11. Aastha Spintex Limited GMP Vs Listing

Aastha Spintex Limited finally got listed at ₹130, or ₹6 below the issue price of ₹136, which is a 4.41% discount to the issue price. The GMP was ₹4, or 2.94% above the issue price. The issue listed below GMP expectations.

The GMP movement showed modest positive sentiment with limited volatility throughout the period: ₹0 → ₹4 → ₹5.25 → ₹5 → ₹6 → ₹1 → ₹3 → ₹4 → ₹3 → ₹5 → ₹4.

12. Adon Agro Commodities Limited GMP Vs Listing

Adon Agro Commodities Limited finally got listed at ₹78.25, or ₹8.25 above the issue price of ₹70, which is a 11.79% premium to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed above GMP expectations.

13. Crazy Snacks Limited GMP Vs Listing

Crazy Snacks Limited finally got listed at ₹44, or ₹2 above the issue price of ₹42, which is a 4.76% premium to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed above GMP expectations.

14. Kratikal Tech Limited GMP Vs Listing

Kratikal Tech Limited finally got listed at ₹192.00, or ₹57.00 above the issue price of ₹135.00, which is a 42.22% premium to the issue price. The GMP was ₹78, or 57.78% above the issue price. The issue listed below GMP expectations.The GMP movement showed exceptionally strong bullish sentiment, with premiums accelerating sharply in the final stages before listing:
₹0 → ₹14 → ₹15 → ₹13 → ₹17 → ₹28 → ₹41 → ₹40 → ₹36 → ₹33 → ₹37 → ₹62 → ₹55 → ₹75 → ₹70 → ₹78.

15. Sampark India Logistics Limited GMP Vs Listing

Sampark India Logistics Limited finally got listed at ₹89.00, or ₹5.00 above the issue price of ₹84.00, which is a 5.95% premium to the issue price. The GMP was ₹2.5, or 2.98% above the issue price. The issue listed above GMP expectations. The GMP movement remained limited but positive throughout the period:
₹0 → ₹2.5.

16. Knack packaging Limited GMP Vs Listing

Knack Packaging Limited finally got listed at ₹188.00, or ₹18.00 above the issue price of ₹170.00, which is a 10.59% premium to the issue price. The GMP was ₹8.5, or 5.00% above the issue price. The issue listed above GMP expectations. The GMP movement showed strong bullish sentiment initially, reaching a peak of ₹33 before gradually cooling closer to listing: ₹0 → ₹20 → ₹18 → ₹13 → ₹12 → ₹11.5 → ₹14 → ₹22 → ₹20 → ₹23 → ₹29 → ₹27 → ₹26 → ₹30 → ₹33 → ₹27 → ₹17 → ₹20 → ₹18 → ₹16 → ₹17 → ₹16 → ₹11 → ₹8.5.

17. Seemax Resources Limited GMP Vs Listing

Seemax Resources Limited finally got listed at ₹112.8, or ₹28.2 below the issue price of ₹141, which is a 20.00% discount to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed below GMP expectations.

18. Teja Engineering Industries Limited GMP Vs Listing

Teja Engineering Industries Limited finally got listed at ₹418.00, or ₹198.00 above the issue price of ₹220.00, which is a 90.00% premium to the issue price. The GMP was ₹36, or 16.36% above the issue price. The issue listed well above GMP expectations. The GMP movement showed steadily improving positive sentiment ahead of listing:
₹0 → ₹3 → ₹10 → ₹15 → ₹22 → ₹36.

19. Vinit Mobile Limited GMP Vs Listing

Vinit Mobile Limited finally got listed at ₹155, or ₹3 below the issue price of ₹158, which is a 1.90% discount to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed below GMP expectations.

The GMP movement showed an unusual pattern, with an early surge followed by a complete collapse in grey market sentiment: ₹0 → ₹30 → ₹0 → ₹1 → ₹0.

20. Devson Catalyst Limited GMP Vs Listing

Devson Catalyst Limited finally got listed at ₹196.15, or ₹78.15 above the issue price of ₹118.00, which is a 66.23% premium to the issue price. The GMP was ₹49, or 41.53% above the issue price. The issue listed well above GMP expectations. The GMP movement showed steadily strengthening investor sentiment, with premiums rising sharply from single digits to nearly ₹50 before listing:

₹0 → ₹6 → ₹8 → ₹19 → ₹40 → ₹43 → ₹46 → ₹36 → ₹45 → ₹50 → ₹45 → ₹49 → ₹51 → ₹49

21. Kusumgar Limited GMP Vs Listing

Kusumgar Limited finally got listed at ₹569.00, or ₹150.00 above the issue price of ₹419.00, which is a 35.80% premium to the issue price. The GMP was ₹161, or 38.42% above the issue price. The issue listed slightly below GMP expectations. The GMP movement showed exceptionally strong and sustained bullish sentiment throughout the period, with premiums consistently remaining above ₹150 in the final stages:

₹0 → ₹112 → ₹140 → ₹145 → ₹140 → ₹133 → ₹165 → ₹171 → ₹170 → ₹163 → ₹166 → ₹168 → ₹167 → ₹173 → ₹160 → ₹155 → ₹159 → ₹165 → ₹159 → ₹160 → ₹161 → ₹153 → ₹150 → ₹155 → ₹161

22. SBI Funds Management Limited GMP Vs Listing

SBI Funds Management Ltd GMP movement (0→101→91→105→110→118→124→125→135→140→141→139→140→95→70→96→86→118→110→108→109→88→89→106→98→101→91→88→94→91→90→92→93→96→97)

23. Riyaasat Lifestyle Limited GMP Vs Listing

Riyaasat Lifestyle Limited finally got listed at ₹84.8, or ₹21.2 below the issue price of ₹106, which is a 20.00% discount to the issue price. The GMP was ₹0, or 0% above the issue price. The issue listed below GMP expectations. There was no movement in the grey market premium, with the GMP remaining flat at ₹0 throughout the period, indicating neutral sentiment ahead of listing.

24. Happy Steels Limited GMP Vs Listing

Happy Steels Limited finally got listed at ₹68.00, or ₹2.00 above the issue price of ₹66.00, which is a 3.03% premium to the issue price. The GMP was ₹10, or 15.15% above the issue price. The issue listed below GMP expectations.

The GMP movement showed positive investor sentiment throughout the IPO period, with premiums reaching as high as ₹14 before moderating closer to listing: ₹0 → ₹6.5 → ₹8 → ₹5 → ₹7 → ₹14 → ₹8 → ₹12 → ₹10

25. Laser Power and Infra GMP Vs Listing

Laser Power & Infra Limited finally got listed at ₹250.00, or ₹36.00 above the issue price of ₹214.00, which is a 16.82% premium to the issue price. The GMP was ₹39, or 18.22% above the issue price. The issue listed slightly below GMP expectations.The GMP movement reflected strong investor interest throughout the IPO period, despite some volatility in the early stages: ₹0 → ₹15 → ₹43 → ₹28 → ₹10 → ₹15 → ₹21 → ₹15 → ₹27 → ₹35 → ₹36 → ₹35 → ₹38 → ₹40 → ₹39 → ₹43 → ₹41 → ₹44 → ₹43 → ₹42 → ₹39.

26. Millworks Technologies Limited GMP Vs Listing

Millworks Technologies Limited GMP movement (0→280→297→350→385→400→390→395→396→300→275→300→400→415→400→380)

27. Alpine Texworld Limited GMP Vs Listing

Alpine Texworld Limited GMP movement (0→2→5→10→9→6→2→1)

28. Sotefin Bharat Limited GMP Vs Listing

Sotefin Bharat Limited GMP movement (12→16→17→26→22→27→18)

29. Caliber Mining and Logistics Limited GMP Vs Listing

Caliber Mining and Logistics Limited GMP movement (60→80→95→98→102→100→105)

30. Gulf Lloyds (India) Ltd GMP Vs Listing

Gulf Lloyds (India) Ltd GMP movement (3→6→8)

31. Cube Highways Trust GMP Vs Listing

Cube Highways Trust GMP movement ()

32. Shree Balaji (Mala) Textiles Limited GMP Vs Listing

Shree Balaji (Mala) Textiles Limited GMP movement (8→19)

33. Metalic Technoforge Limited GMP Vs Listing

Metalic Technoforge Limited GMP movement (0)

34. Xtranet Technologies Limited GMP Vs Listing

Xtranet Technologies Limited GMP movement (13)

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. We also did a detailed analysis of mainboard IPOs and their GMP and listing performance review, the outcome of details are published on 

25 Mainboard IPOs: GMP vs Actual Listing Performance – A Data Study

GMP shows market sentiment, but valuation also plays a key role in listing performanceExplore our IPO Valuation vs Listing Performance Study 2026.

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.

9. New to IPOs? Explore our complete IPO Glossary to understand 100+ important terms, including GMP, issue price, and listing gain.

Copyright @ 2026 MrMoneyFrugal

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.

Scroll to Top