Last GMP snapshot: 11 Jul 2026, 8:15 AM IST · indicative grey-market data
IPO GMP Today — Grey Market Premium, Explained & Scored
What GMP is, how to turn it into an expected listing price, and the one thing no other tracker publishes — a public scorecard of GMP's predictions vs real listings. Live quote updates are currently paused; everything else here stays current.
Live GMP updates are paused — last verified snapshot: 11 Jul 2026, 8:15 AM IST.
Grey-market quotes are frozen at that refresh. Everything else on this page — IPO dates and bands (from exchange filings), the GMP-vs-reality scorecard, and the how-to guides — stays accurate, because none of it depends on a daily number.
Direction called right
84%
across 43 recent listings
Avg. miss on the size
±16pts
GMP % vs actual listing %
The honest read: GMP usually gets the direction right but is often well off on the size of the move. Use it as a signal — never a guarantee.
| IPO | Issue price | GMP said | Actually listed | Result |
|---|---|---|---|---|
| Tata Technologies | ₹500 | +86% | +140% | Direction hit |
| Waaree Energies | ₹1,503 | +85% | +66% | Direction hit |
| Premier Energies | ₹450 | +104% | +120% | Direction hit |
| LG Electronics India | ₹1,140 | +37% | +50% | Direction hit |
| Unimech Aerospace | ₹785 | +80% | +86% | Direction hit |
| IdeaForge | ₹672 | +76% | +93% | Direction hit |
| DOMS Industries | ₹790 | +62% | +65% | Direction hit |
| Netweb Technologies | ₹500 | +80% | +89% | Direction hit |
| KRN Heat Exchanger | ₹220 | +105% | +118% | Direction hit |
| Unicommerce eSolutions | ₹108 | +60% | +118% | Direction hit |
The % scores above are computed across all 43tracked listings, not just the rows shown. "GMP said" = close-day grey-market premium as a % of issue price. "Actually listed" = real listing-day open vs issue price. Listing-day facts; GMP is unofficial. This is the honesty layer other trackers skip.
| IPO | GMP today | Est. listing | Price band | Min. invest | Open–Close | Status |
|---|---|---|---|---|---|---|
| Laser Power & InfraMainboard | ₹32–35▲2 trackers | ₹246–249+15.7% | ₹203–214 | ₹14,980lot 70 | 9 Jul–13 Jullists 16 Jul | Open1.05x subscribed |
| Devson CatalystBSE SME | ₹28–45▲split2 trackers | ₹146–163+30.9% | ₹112–118 | ₹2,83,2002400 sh · SME min 2 lots | 9 Jul–13 Jullists 16 Jul | Open30.15x subscribed |
| Happy SteelsNSE SME | ₹4–7▼split2 trackers | ₹70–73+8.3% | ₹62–66 | ₹2,64,0004000 sh · SME min 2 lots | 9 Jul–13 Jullists 16 Jul | Open3.18x subscribed |
| SBI Funds ManagementMainboard | ₹111–112▼2 trackers | ₹685–686+19.4% | ₹545–574 | ₹14,924lot 26 | 14 Jul–16 Jullists 21 Jul | Upcoming |
| Alpine TexworldMainboard | ₹2–2 trackers | ~₹107+1.9% | ₹100–105 | ₹14,910lot 142 | 14 Jul–16 Jullists 21 Jul | Upcoming |
| Millworks TechnologiesBSE SME | ₹295–400▲split2 trackers | ₹626–731+105.0% | ₹315–331 | ₹2,64,800800 sh · SME min 2 lots | 14 Jul–16 Jullists 21 Jul | Upcoming |
| KusumgarMainboard | ₹155–165▲2 trackers | ₹574–584+38.2% | ₹398–419 | ₹14,665lot 35 | 8 Jul–10 Jullists 15 Jul | Closed135.76x subscribed |
▲ rising · ▼ falling · – unchanged · · no previous reading · Est. listing = cap price + GMP. A GMP shown as a range means the trackers we check quote different numbers — hover any GMP to see who said what. Split marks a disagreement wide enough that you should not trust either end. Min. invest is the retail minimum you can actually apply with — for SME IPOs SEBI requires 2 lots, so we show the 2-lot amount where most trackers still print one.
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GMP is unofficial, unregulated grey-market data — indicative only, not investment advice, and it can change through the day. Dates and price bands from exchange filings; verify on the official RHP before applying. Live quote updates are paused right now — the timestamp above shows the last verified snapshot.
How to read this page (and how GMP actually works)
The Grey Market Premium (GMP)is the unofficial price premium that traders pay for IPO shares before they list on the exchange. It exists because demand for a hot IPO doesn't wait for listing day — an informal market forms the moment the price band is announced. When you read that an IPO priced at ₹99 has a GMP of ₹42, it means grey-market buyers are effectively paying ~₹141 today — a bet that the stock lists roughly 42% above its issue price.
Our table turns that one number into the things you actually decide with: the expected listing price (cap price + GMP), the minimum investment(the amount you can actually apply with — for SME IPOs that's SEBI's 2-lot retail minimum, which most trackers get wrong), the subscription level (how heavily oversubscribed it already is — which drives your allotment odds), and the three dates that matter: close, allotment and listing. One glance, one decision.
There is no such thing as “the” GMP
This is the part every other tracker hides. The grey market is a loose network of dealers, not an exchange — nobody publishes a settled price, because there isn't one. Ask two trackers for the same IPO's GMP on the same afternoon and you will often get two different answers, sometimes twice apart. Printing a single confident number is a design choice that makes a rumour look like a quote.
So we don't. Every GMP above is shown as the range across the trackers we check, each source is named when you hover it, and when they disagree badly we mark the row split— meaning neither end deserves your trust. A tight range is a real signal. A wide one tells you the grey market hasn't made up its mind, which is itself worth knowing before you commit ₹15,000.
What GMP is good for — and where it lies
GMP is the market's mood, measured in rupees — and mood is information. A rising GMP through the subscription window usually signals strong listing demand; a collapsing GMP is often the first public warning that enthusiasm is draining. But be clear about its limits: the grey market is unofficial and unregulated, the quoted premium comes from dealer indications rather than any exchange, and history is full of 40% GMPs that listed flat — and quiet ones that popped. That's exactly why we run the accuracy logbelow: every IPO we track gets a public before/after entry, GMP's prediction versus the real listing. We'd rather show you the scorecard than sell you the hype.
The two terms brokers won't explain
Kostak is the fixed price at which someone buys your entire IPO application (win or lose the allotment lottery). Subject-to-saudapays more but only if your application actually receives allotment. Both are unofficial side-deals — we report the main GMP because it's the number that moves listings, but if you're offered either of these, know that they carry counterparty risk with zero legal recourse.
Nothing on this page is investment advice, and GMP figures are indicative unofficial data — apply based on the company's fundamentals and your own judgment, not a grey-market number. GMP sources: IPO Watch, IPO Ji. Dates, price bands, lot sizes and issue sizes from exchange filings and the RHP, each cross-checked against two independent reports; subscription from BSE/NSE bidding data.
A worked example from today's table
Take Millworks Technologies: cap price ₹331, today's GMP ₹295–400 depending on which tracker you ask. Expected listing ≈ ₹331 + ₹347.5 = ~₹678.5, a +105.0% signal — the strongest on today's board. One lot is 400 shares, and SEBI's SME rules set the retail minimum at 2 lots (800 shares), so the minimum application is 800 × ₹331 = ₹2,64,800. If the GMP held perfectly to listing (it rarely does — see the accuracy log), that application would show a paper gain of about ₹2,78,000 on day one. Whether you get allotted at all depends on how oversubscribed it closes — at 10× subscription, roughly one in ten retail applicants wins the lottery.
Frequently asked questions
Which IPO has the highest GMP today?
The table above shows the grey market premium for every open and upcoming mainboard and SME IPO we track. The 'Est. listing' column with the strongest green percentage is the market's current favourite. The timestamp at the top tells you exactly how fresh the data is — while live tracking is active we refresh twice every market day (morning and evening, IST), and whenever updates are paused the page says so plainly instead of pretending to be live.
What is IPO GMP (Grey Market Premium)?
GMP is the extra amount buyers in the unofficial 'grey market' are willing to pay for IPO shares before they list. If an IPO's issue price is ₹100 and its GMP is ₹40, unofficial traders are paying ₹140 — implying the market expects a ~40% listing gain. It is an unofficial, unregulated indicator of demand — useful as a sentiment signal, never a guarantee.
Why do you show GMP as a range instead of one number?
Because there is no single GMP. The grey market is a network of dealers, not an exchange, so different trackers publish different premiums for the same IPO on the same day — sometimes twice apart. Every other site prints one figure as if it were a quoted price. We publish the full range across the trackers we check, name each source, and flag the IPO as 'split' when they disagree badly enough that neither end should be trusted. Hover any GMP to see who said what.
How is the estimated listing price calculated from GMP?
Estimated listing price = the IPO's cap price + today's GMP. Example: cap price ₹419 + GMP ₹151 = ~₹570 expected listing (about +36%). Where trackers disagree we show the band both ends imply. It's simple arithmetic on an unofficial number — treat it as the market's guess, not a promise. Our public accuracy log below tracks how often that guess comes true.
Is GMP reliable? Is the grey market legal?
GMP often points the right direction but frequently misses the magnitude — strong GMPs have ended in muted listings and vice versa. The grey market itself is unofficial and unregulated (not illegal to observe, but SEBI regulates none of it). That's why we publish a GMP-vs-reality accuracy log — we hold the number accountable instead of hyping it.
Where does this data come from, and when is it updated?
GMP quotes are compiled from named public trackers (currently IPO Watch and IPO Ji) and every figure on the page carries its source — there is no official GMP anywhere, for anyone. Dates, price bands, lot sizes and issue sizes come from exchange filings and the RHP, each cross-checked against two independent reports. Subscription figures come from the BSE and NSE bidding data. The timestamp at the top shows the last refresh; when live tracking is active that's twice every market day, and when it's paused the page says so — the dates, the scorecard and the guides don't depend on a daily number.
Does a high GMP guarantee a strong listing?
No — and our accuracy scorecard proves it with real data. Across the listings we track, GMP usually calls the direction correctly (a positive GMP usually does mean a positive listing), but it is frequently far off on the size of the move: 40% premiums have listed at 10%, and quiet 5% GMPs have popped 20%. Use GMP as a demand signal alongside the company's fundamentals, the QIB subscription and the price band valuation — never as a promised return.
Can NRIs apply for Indian IPOs?
Yes — NRIs can apply through their NRE or NRO account with a linked demat and UPI (or ASBA), subject to the RBI/company rules for each issue. The process differs slightly from resident applications; our NRI tools cover account setup and the tax on listing gains for NRIs.