
IPO GMP Live Updates Today – Grey Market Premium – Pan India
🕗 Last Update: 20 September 2025, 9.00 PM | Mainboard & SME IPOs
IPO GMP Live -Chanakya’s Insights
✨ Anand Rathi Share (Mainboard) GMP Crash Sparks Panic in Market
GMP nosedived from Rs. 65 → Rs. 40 in 2 hrs yesterday, now at just Rs. 27.
Street fears further slide to zero as counter loses investor fancy. While a section of the market believes the premium may stage a recovery by Monday, many others expect it to erode further and possibly touch zero in the next few sessions. The counter has clearly lost investor fancy amid such extreme volatility.
📊 Saatvik Green Energy (Mainboard) GMP collapsed to Rs. 32 from Rs. 77 in a day, sparking panic.
Heavy shock waves felt across Delhi, Mumbai, Jaipur, Ahmedabad, Rajkot, Kolkata & Gandhidham.
🛠️ Solarworld (Mainboard)
In the evening trades, GMP recovered to Rs. 55 (previous night Rs. 65and then today morning at Rs. 33)
📊 Epack Prefab (Mainboard)
GMP is moving in the range of Rs. 12-13. Strong fancy anticipated.
📊 Atlanta Electricals (Mainboard)
Leading player in fast growing transformer market, Large order book position, Attractive valuation, Rocking in the premium market, GMP strong at Rs. 157. Volume high across Ahmedabad, Rajkot & Gandhidham
🛠️ Jaro Institute (Mainboard)
Mumbai-based company. Premium trades have started with thin volume and today morning GMP improved to Rs. 112 (previous night Rs. 110)
🛠️ Jinkushal (Mainboard)
Raipur-based company engaged in buying old earthmoving equipment, refurbishing and exporting them. Strong profitability profile. Premium stable at Rs. 51 with heavy volumes at Jaipur, Delhi, Ahmedabad and Rajkot markets 💱. Strong rise in the premium expected in a day or two
✨ iValue (Mainboard)
Operates in the fast-growing cyber-security solutions space, with a strong business model and virtually no direct competition 📋. Grey Market Premium & Subject-to rates corrected to Rs. 5 (vs Rs. 20 yesterday morning).
✨ VMS TMT (Mainboard)
On the first day of subscriptions, IPO is 8.40T subscribed. Well-entrenched local TMT manufacturer & trader, with expansion plans in pipeline 📋. Grey Market Premium & Subject-to rates is declined at Rs. 12-13 (vs Rs. 20 earlier).
📢 Stay tuned with Chanakya IPO-GMP Live Tracker – the only real-time source for Grey Market Premiums, Kostak, Subject-to-Sauda & Pan-India buzz!
⏰ Next IPO GMP live update @ 8.01 AM tomorrow.Chittorgarh IPO GMP
Infosys Buyback |
Investsment upto Rs. 2 L |
Fix Rs. 11,000 |
After 30 Days 18% ROI |
DSM Fresh Foods BSE SME | Opens on 26/9 | |||
Size– Rs. 45.04 Cro | GMP | – | ||
Price Rs. 102 Lot 1200 shares | Sub2 | – | ||
Op-26 Sept Close– 30 Sept | LM | |||
Al– 1 Oct Listing– 6 Oct | Narnolia Financia | |||
👉 New Delhi 👉Online retailer of fresh meat and ready-to-cook/eat non-veg products. |
Jinkushal Industries IPO | Opens on 25/9 | |||
IPO Details & Review | APPLY | GMP | ||
Size | Rs.116.11 Cr. | Buy | Sell | |
Price | Rs.121 | 50 | 52 | |
Lot | 120 Shares | |||
Open | 25.09.2025 | Kostak | Sub2 | |
Close | 29.09.2025 | Retail | – | 4700 |
Allotment | 30.09.2025 | S HNI | – | 65,800 |
Listing | 03.10.2025 | B HNI | – | 65,800 |
👉Raipur Chattisgarh 👉Refurbishing of Earthmoving equipments. |
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Jain Resource IPO | Opens on 24/9 | |||
IPO Details & Review | GMP | |||
Size | Rs. 1250 Cr. | Buy | Sell | |
Price | Rs.232 | 22 | 24 | |
Lot | 64 Shares | |||
Open | 24.09.2025 | Kostak | Sub2 | |
Close | 26.09.2025 | Retail | – | 1100 |
Allotment | 29.09.2025 | S HNI | – | 15,400 |
Listing | 1.10.2025 | B HNI | – | 15,400 |
👉Chennai Tamilnadu 👉recycling and manufacturing of non-ferrous metal products |
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Epack Prefab IPO | Opens on 24/9 | |||
IPO Details & Review | GMP | |||
Size | Rs.504 Cr. | Buy | Sell | |
Price | Rs.204 (FV RS.2) | 18 | 20 | |
Lot | 73 Shares | |||
Open | 24.09.2025 | Kostak | Sub2 | |
Close | 26.09.2025 | Retail | – | – |
Allotment | 29.09.2025 | S HNI | – | – |
Listing | 1.10.2025 | B HNI | – | – |
👉Greater Noida, Uttar Pradesh, 👉Manufacturing of pre-engineered steel buildings |
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Justo Realfintech BSE SME | Opens on 24/9 | |||
Size Rs.59.82 Cr. | GMP 25 | Sub2 19000 | ||
Price Rs. 127 Lot 1000 | LM | Vivro Financial | ||
Op-24/9 Close 26/9 Al 29/9 List 1 Oct | ||||
👉Helps real estate developers to sell projects |
Chittorgarh IPO GMP
Ecoline Exim NSE SME | Opens on 23/9 | |||
Size 72.59 Cr. | GMP 5 | Sub2 3800 | ||
Price Rs. 141 Lot 1000 | LM | Hem Securities | ||
Op-23 Sept Close 25 Sept Al 26 Sept List 30 Sept | ||||
👉 Manufactures cotton & jute bags |
Matrix Geo NSE SME | Opens on 23/9 | |||
Size– Rs. 37.98 Cr | GMP | 10 | ||
Price Rs. 104 Lot 1200 shares | Sub2 | 12000 | ||
Op-23 Sept Close– 25 Sept | LM | |||
Al– 26 Sept Listing– 30 Sept | Narnolia Financials | |||
👉 Delhi 👉Consultancy firm specializing in advanced survey technologies |
True Colours BSE SME | Opens on 23/9 | |||
Size– Rs. 121.54 Cr | GMP | 45 | ||
Price Rs. 191 Lot 600 shares | Sub2 | 20500 | ||
Op-23 Sept Close– 25 Sept | LM | |||
Al– 26 Sept Listing– 30 Sept | GYR Capital Advisors | |||
👉 Surat 👉Business imports and distributes digital textile printers |
Solarworld Energy IPO | Opens on 23/9 | |||
IPO Details & Review | GMP | |||
Size | Rs.490 Cr. | Buy | Sell | |
Price | Rs.351 | 32 | 34 | |
Lot | 42 Shares | |||
Open | 23.09.2025 | Kostak | Sub2 | |
Close | 25.09.2025 | Retail | – | 1200 |
Allotment | 26.09.2025 | S HNI | – | 15,400 |
Listing | 30.09.2025 | B HNI | – | 15,400 |
👉Delhi based 👉A solar energy EPC company providing end-to-end solutions for solar power projects. |
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Jaro Institute IPO | Opens on 23/9 | |||
IPO Details & Review | GMP | |||
Size | Rs.116.11 Cr. | Buy | Sell | |
Price | Rs.121 | 111 | 113 | |
Lot | 120 Shares | |||
Open | 25.09.2025 | Kostak | Sub2 | |
Close | 29.09.2025 | Retail | – | 1400 |
Allotment | 30.09.2025 | S HNI | – | 21,000 |
Listing | 3.10.2025 | B HNI | – | 21,000 |
👉Mumbai based 👉A leading online higher education company with pan India presence |
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Anand Rathi IPO-GMP updates | Opens on 23 Sept | |||||
IPO Details & Review | GMP | APPLY | Appli. Rates |
Subject to | ||
Size | Rs. 745 Cr. | Buy | Sell | |||
Price | Rs. | 26 | 28 | |||
Lot | Shares | Retail | – | 800 | ||
Open | 23.09.2025 | S HNI | – | 10,000 | ||
Close | 25.09.2025 | B HNI | 2200 | 10,000 | ||
Allotment | 26.09.2025 | |||||
Listing | 30.10.2025 | |||||
👉Mumbai 👉Share broking business |
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BharatRohan BSE IPO-GMP | Opens on 23 Sept. | ||||
IPO Details & Review | GMP | Subject to | Allotted rates | ||
Size | Rs 45.04 Cr. | – | – | Retail | – |
Price | Rs.85 | HNI | – | ||
Lot | 1600 Shares | Lead Manager | |||
Open | 23.09 | GYR Capital | |||
Close | 25.09.2025 | 👉New Delhi 👉Agritech Solution provider |
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Allotment | 26.09.2025 | ||||
Listing | 30.09.2025 | ||||
Aptus Pharma BSE SME | Opens -23 Sept | |||
Size Rs.13.02 Cr. | GMP 7 | Sub2 10,600 | ||
Price Rs. 70 Lot 2000 | LM | Interactive Financials | ||
Op-23/9 Close 25/9 Al 26/9 List 30/9 | ||||
👉Marketing of Pharma products |
Seshaasai Technologies IPO-GMP updates | Opens on 23 Sept | |||||
IPO Details & Review | GMP | Appli. Rates |
Subject to | |||
Size | Rs. 813.07 Cr. | Buy | Sell | |||
Price | Rs. 423 | 119 | 121 | |||
Lot | 35 Shares | Retail | – | 3,200 | ||
Open | 23.09.2025 | S HNI | – | 44,800 | ||
Close | 25.09.2025 | B HNI | – | 44,800 | ||
Allotment | 26.09.2025 | |||||
Listing | 30.09.2025 | |||||
👉Mumbai 👉A technology-driven, multi-location solutions provider with a strong presence in the BFSI sector |
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Atlanta Electricals IPO-GMP updates | Opens on 22 Sept | |||||
IPO Details & Review | GMP | APPLY | Appli. Rates |
Subject to | ||
Size | Rs. 900 Cr. | Buy | Sell | |||
Price | Rs. 754 | 150 | 152 | |||
Lot | 32 Shares | Retail | – | 2,200 | ||
Open | 22.09.2025 | S HNI | – | 30,200 | ||
Close | 24.09.2025 | B HNI | – | 30,200 | ||
Allotment | 25.09.2025 | |||||
Listing | 29.09.2025 | |||||
👉Anand, Gujarat 👉leading manufacturers of power, auto and inverter duty transformers |
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Saatvik Green Energy IPO-GMP updates | IPO is open | |||||
IPO Details & Review | GMP | Appli. Rates |
Subject to | |||
Size | Rs. 900 Cr. | Buy | Sell | |||
Price | Rs. 465 | 25 | 27 | |||
Lot | 32 Shares | Retail | – | 600 | ||
Open | 19.09.2025 | S-HNI | 8400 | |||
Close | 23.09.2025 | B HNI | 2000 | 8400 | ||
Allotment | 24.09.2025 | |||||
Listing | 26.09.2025 | |||||
👉Ambala Haryana 👉manufacturing of solar modules, also catering to EPC projects. |
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G K Energy IPO-GMP updates | IPO is open | |||||
IPO Details & Review | GMP | Appli. Rates |
Subject to | |||
Size | Rs. 464.26 Cr. | Buy | Sell | |||
Price | Rs. 153 | 26 | 28 | |||
Lot | 98 Shares | Retail | – | 2,000 | ||
Open | 19.09.2025 | S HNI | – | 28,000 | ||
Close | 23.09.2025 | B HNI | – | 28,000 | ||
Allotment | 24.09.2025 | |||||
Listing | 26.09.2025 | |||||
👉Ambala Haryana 👉manufacturing of solar modules, also catering to EPC projects. |
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iValue Infosolutions IPO-GMP updates | IPO is open | |||||
IPO Details & Review | GMP | APPLY | Appli. Rates |
Subject to | ||
Size | Rs. 560.29 Cr. | Buy | Sell | |||
Price | Rs. 299 | 4 | 6 | |||
Lot | 50 Shares | Retail | – | 200 | ||
2800 | ||||||
Close | 22.09.2025 | B-HNI | 2800 | |||
Allotment | 23.09.2025 | |||||
Listing | 25.09.2025 | |||||
👉Bengaluru 👉focused on enterprise digital transformatio |
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J D Cables BSE SME | IPO is open | |||
Size Rs.91.19 Cr. | GMP 40 | Sub2 23,100 | ||
Price Rs. 152 Lot 800 | LM | GYR Capital | ||
Op-18/9 Close 22/9 Al 23/9 List 25/9 | ||||
👉 manufacturing of high-quality cables and conductors |
VMS TMT IPO-GMP updates | Allotment on 22/9 | |||||
IPO Details & Review | GMP | APPLY | Appli. Rates |
Subject to | ||
Size | Rs. 148.50 Cr. | Buy | Sell | |||
Price | Rs.99 | 11 | 13 | |||
Lot | 150 Shares | Retail | 230 | 1,300 | ||
Open | 17.09.2025 | S HNI | – | 18,200 | ||
Close | 19.09.2025 | B HNI | – | 18,200 | ||
Allotment | 22.09.2025 | |||||
Listing | 24.09.2025 | |||||
👉HO-Ahmedabad 👉Manufactures & sells TMT bars |
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Sampat Aluminium BSE SME | Allotment-22/9 | |||
Size Rs.30.53 Cr. | GMP 19 | Sub2 17,300 | ||
Price Rs. 120 Lot 1200 | LM | GYR Capital | ||
Op-17/9 Close 19/9 Al 22/9 List 24/9 | ||||
👉 Manufacturing of Alluminium Wire rods & wires |
Euro Pratik IPO-GMP updates | Listing 25/9 | |||||
IPO Details & Review | GMP | Appli. Rates |
Subject to | |||
Size | Rs. 451.32 Cr. | Buy | Sell | |||
Price | Rs. 235-247 | 0.50 | 1 | |||
Lot | 60 Shares | Retail | – | – | ||
Open | 16.09.2025 | S HNI | – | – | ||
Close | 18.09.2025 | B HNI | – | – | ||
Allotment | 19.09.2025 | |||||
Listing | 25.09.2025 | |||||
TechDefence NSE SME | Listing-22/9 | |||
Size Rs.38.99 Cr. | GMP 210 | Sub2 | ||
Price Rs. 193 Lot 600 | LM | GYR Capital | ||
Op-15/9 Close 17/9 Al 18/9 List 22/9 | ||||
👉 Cyber security specialist |
L.T.Elevator BSE IPO-GMP | Listing – 20 Sept | ||||
IPO Details & Review | GMP | Subject to | Allotted rates | ||
Size | Rs 39.37Cr. | 45 | 52300 | Retail | – |
Price | Rs.140 | HNI | – | ||
Lot | 1600 Shares | Lead Manager | Subscribed | 182.95T | |
Open | 12.09 | Horizon Management | Accumulated | Rs.6842Cr. | |
Close | 16.09.2025 | 👉Kolkatta W.B. 👉Manufactures Elevators, Manual Elevators and Semi-Automatic Elevator |
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Allotment | 17.09.2025 | ||||
Listing | 20.09.2025 | ||||
Quicklinks
Key Terms Explained in Simple Words
Grey Market: An unofficial market where IPO shares are bought and sold before listing. It operates outside SEBI’s regulations.
GMP (Grey Market Premium): The premium per share that buyers are willing to pay in this market.
Kostak Rate: The premium per application, irrespective of allotment.
Sub2 / Sub2 Sauda: The premium paid for a fully allotted application.
All deals are based on word of mouth and mutual trust.
Transactions are generally in cash only; there is no official record.
Contracts, if any, are written on small slips of paper – purely informal.
There are no official dealers or regulatory bodies overseeing it.
A higher GMP usually signals strong demand and increases the chances of the IPO getting listed at a bumper price.
However, since this market is unofficial, prices can be volatile and speculative.
Fire Rating is another measure of IPO popularity – it indicates how attractive the IPO is expected to be in terms of returns.
In SME ipo subject rates given is for per lot basis to be multiply by no.of loads receive kindly confirm.
Subjet to rates are per lot. So If you apply for 3 lots and you wish to sell all 3 lots, you will get amount equal to (Subject to ratex 3 ). WE hope this clarifies your querry.
Jainik Power disappointed us. Very poor listing. Not expected this much discount listing.
Admin, Patil Automation appears to be good IPO. Should I make 4 applications in HNI category?. What about returns?
Admin ji, What is your guidance about Eppletone sme IPO? Should I apply or avoid?
I plan to invest large amounts in the IPOs of HDF and also Kalpataru. What will the return in both the IPOs? Can any body indicate?
Sir, I have bought 1000 shares of HDB financial at current premium. Should I add more? Will be profitable on listing?
Your coverage of Oswal pumps is excellent and you have clearly mentioned about the tender business on which this company relies. On the tender is gone, the business will collapse. I fully agree.
best feature of your grey market page is active rates. Many other websites give rates for which there is no trading, whereas you specifically indicate that there is no trading for this IPO. It gives correct indication about the IPO
I have been using your website since last 4 years and all along you have provided very useful information. Recent changes in GMP page is welcome and covers all the useful data including subscription status. All the best and congratulation for improvements.
Qiality of the comments were very high at this platform. No nonsence discussion just like other sites. Congratulations to the Admin.
@Sevaklal,
Aten may not bring good listing gains. No buyers in grey market. Apply with full force in Sacheerome.
Admin, Pl provide your guidance on Aten papers. Should be applied or avoided?
Admin sir, Happy that you have activated this discussion platform. The readers were awaiting to be active on your site. All the best
Do provide IPO guidance by Sonam Singh, Delhi. Her opinions were upto the mark.
Sacheerome premium buying has been impressive. Tomorrow on the last day of subscription hige oversubscription expected. Even Chanakya expert has recommended this IPO strongly. Must apply IPO. Premium to move up
No fancy or buyers seen in grey market for Monolithisch IPO. Hem SEcurities may not bring good subscription this time. Even during last 2/3 issues, there performance has been unimpressive.
Premium to issue price ratio is good. May avoid
Any updates on HDB securities application rates? When this IPO expected?
Good that admin has activated this discussion forum. It will be very useful to us.
What is your observation about Aten Papers. Earlier the IPO was postponed. No premium as of now. What to do?
Sacheeram has strong business and large profits. The premium and subject to rates are justified. I expect bumper subscription on Wednesday.
All the best to premium-buyers in this IPO.
Most of the business of Oswal Pumps is from government schemes and if such business goes, then the company is in soup. May not generate good profits. Risky
Not recommended.
No, Sujal,
You are wrong. There is no short sell caught. It is gimmick of the operator, sice the price of this IPO is very high, the chance of oversubscription is very low and hence it is gimmick to attract the investors. Negative listing is expected by me
sir, Welcome decision to activate this group. I used to get useful information and guidance on grey market through your platform.
Oswal pumps, the premium is not large but short selling is caught and strong buying at this counter is seen since Tuesday morning. Premiuma and subject to rates to move up
Can someone tell me local dealer means
Offline office of online discount brokers or other thing??
Plz reply
When GMP of Belrise expected to be Live. Admin, Be first to notify us.
GMP of Virtula is expected to decline. The IPO has no fundamental attraction and profits are highly inflated. Already before the IPO opens, the subject to rates are down.
Admin Sir,
Good that you have started discussion platform hear. It will be very interesting and informative.
Congratulation. I invite all the GMP players to actively participate
Good that you provide this valuable information.