grey market premium today ipo grey market premium GMP
Market Undercurrent
compiled by the trusted sources of ChanakyaNiPothi.com,
India`s The Oldest Investment & IPO website, a legacy of 32 years
Updated on June 17, 2025 @ 8.00 am
HDB Financial IPO |
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GMP | Message board | |
93 | ||||
24-26 June tentative |
Application Rates |
Sub 2 | ||
Price Rs | Retail | 920 | close | |
Lot | ||||
Open . | S HNI | 1800 | close | |
Close | ||||
Al | B HNI | 8700 | Close | |
List: | S-holder | (2L+) 2000 | ||
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Premium Trend: Application rates for RII and Big HNIs are now live. The IPO is expected to open on 24 June and will close on 26 June tentatively. |
Kalpataru IPO | ![]() |
GMP | Message board | ||
Buy | Sell | ||||
Rs.1590 Cr. | |||||
IPO Detail | Upcoming IPO | Subscriptions | Appli | Sub2 | |
EoD 1 | Rates | Rates | |||
Price Rs ? | QIB | – | Retail | – | – |
Lot ? | B-HNI | – | S-HNI | – | |
Open ?.06.25 | S-HNI | – | B-HNI | – | – |
Close ?.06.25 | Retail | – | |||
Al ?.06.25 | Total | – | |||
List: ?.06.25 | Appli. | – | |||
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Premium Trend Discussion: Looking to the renewed fancy for the real-estate scrips, this IPO may fetch good response. |
Global Civil IPO |
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GMP | Message board | ||
Buy | Sell | ||||
Rs.?Cr. | 0 | 0 | |||
IPO Detail | Opens on 24 June |
Subscriptions | Appli | Sub2 | |
EoD 1 | Rates | Rates | |||
Price Rs ? | QIB | – | Retail | – | – |
Lot ? | B-HNI | – | S-HNI | – | – |
Open 24.06.25 | S-HNI | – | B-HNI | – | – |
Close 26.06.25 | NII | – | |||
Al 27.06.25 | Retail | – | |||
List: 01.07.25 | Total | – | |||
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Premium Trend Discussion: |
AJC Jewells IPO |
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GMP | Sub2 | Message board |
0 | 0 | |||
IPO Detail |
Opens on 23 June |
Subscription Status EoD1 |
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QIB | – | |||
Size Rs. 15.39 Cr. | ||||
Price Rs 95 | HNI | – | ||
Lot 1200 | ||||
Open 23.06.2025 | Retail | – | ||
Close 27.06.2025 | ||||
Al 30.06.2025 | Total | – | ||
List: 1.07.2025 | ||||
Premium Trend: Premium rates are not seen |
Safe Enterprises IPO |
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GMP | Sub2 | Message board |
0 | 0 | |||
Opens on 20 July |
Subscription Status EoD1 |
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QIB | – | |||
Size: Rs.161.13 Cr. | ||||
Price Rs 138 | HNI | – | ||
Lot 1000 | ||||
Open 20.06.2025 | Retail | – | ||
Close 24.06.2025 | ||||
Al 25.06.2025 | Total | – | ||
List: 27.06.2025 | ||||
Premium Trend: Premium rates are not seen |
Mayasheel IPO |
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GMP | Sub2 | Message board |
6 | 13700 | |||
Opens on 20 June |
Subscription EoD 1 |
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Price Rs 47 | QIB | |||
Lot 3000 | HNI | |||
Open 20.06.25 | Retail | |||
Close 24.06.25 | Total | |||
Al 25.06.25 | Appli. | |||
List: 27.06.25 | ||||
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Premium Trend: |
Arisinfra IPO |
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GMP | Message board | ||
Buy | Sell | ||||
Rs.499.60 Cr. | 23 | 27 | |||
IPO Detail | Opens on 18 June |
Subscriptions | Appli | Sub2 | |
EoD 1 | Rates | Rates | |||
Price Rs 222 | QIB | – | Retail | – | 1300 |
Lot 67 | B-HNI | – | S-HNI | – | 18,200 |
Open 18.06.25 | S-HNI | – | B-HNI | – | 18,200 |
Close 20.06.25 | NII | – | |||
Al 23.06.25 | Retail | – | |||
List: 25.06.25 | Total | – | |||
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Premium Trend Discussion: Very often the IPO was postponed and now finally, it will enter the market on 18th June |
Influx Healthcare IPO |
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GMP | Sub2 | Message board |
37 | 33,700 | |||
Opens on 18 June |
Subscription D 1 |
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Price Rs 96 | QIB | |||
Lot 1200 | HNI | |||
Open 18.06.25 | Retail | |||
Close 20.06.25 | Total | |||
Al 23.06.25 | Appli. | |||
List: 25.06.25 | ||||
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Premium Trend: Strong profitability and the players anticipate high activity in premium market. Premium and subject to rate have moved up in the evening session. |
Eppletone IPO |
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GMP | Sub2 | Message board |
63 | 47,900 | |||
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Opens Today |
Subscription D 1 |
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Price Rs 128 | QIB | |||
Lot 1000 | HNI | |||
Open 17.06.25 | Retail | |||
Close 19.06.25 | Total | |||
Al 20.06.25 | Appli. | |||
List: 24.06.25 | ||||
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Premium Trend: Premium starts with bang and inched higher soon. |
Samay Projects IPO |
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GMP | Sub2 | Message board |
0 | 0 | |||
IPO is open |
Subscription Status EoD1 |
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QIB | – | |||
Size: Rs.14.69 Cr. | ||||
Price Rs 34 | HNI | – | ||
Lot 4000 | ||||
Open 16.06.2025 | Retail | – | ||
Close 18.06.2025 | ||||
Al 19.06.2025 | Total | – | ||
List: 23.06.2025 | ||||
Premium Trend: Premium rates are not seen |
Patil Automation IPO |
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GMP | Sub2 | Message board |
22 | 20100 | |||
IPO is open |
Subscription Status EoD1 |
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QIB | 0.01 | |||
Size: Rs.82.02 Cr. | ||||
Price Rs 120 | HNI | 1.81 | ||
Lot 1200 | ||||
Open 16.06.2025 | Retail | 0.62 | ||
Close 18.06.2025 | ||||
Al 19.06.2025 | Total | 0.70 | ||
List: 23.06.2025 | ||||
Premium Trend: Premium rates are now live and the grey market players anticipate strong rally in the coming hours, for this IPO |
Oswal Pumps IPO | ![]() |
GMP | Message board | ||
Buy | Sell | ||||
Rs.1387.34 Cr. | 50 | 54 | |||
IPO Detail | Closes Today |
Subscriptions | Appli | Sub2 | |
EoD 1 | Rates | Rates | |||
Price Rs 614 | QIB | 0.08 | Retail | 370 | 1000 |
Lot 24 | B-HNI | 0.31 | S-HNI | Close | 14100 |
Open 13.06.25 | S-HNI | 0.40 | B-HNI | 2100 | 14100 |
Close 17.06.25 | NII | 0.34 | |||
Al 18.06.25 | Retail | 0.18 | |||
List: 20.06.25 | Total | 0.19 | |||
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Premium Trend Discussion: Flow of applications on Day 3 has improved marginally. On Thursday, the premium has started downward trend. Declined to Rs. 56, from earlier GMP of Rs. 88. The premium to IPO price ratio (9%) is not impressive and some players do not expect huge oversubscription. Many a time, when PtoIP ratio is so low, it declines sharply once the IPO closes for subscriptions. Anchor investment: The company raised Rs. 416.20 crore from the anchor investors. |
Aten Papers IPO GMP |
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GMP | Sub2 | Message board |
10 | 9100 | |||
Closes today |
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Price Rs 96 Lot 1200 Size Rs. Cr. 31.68 |
– | |||
Open 13.06.2025 Close 17.06.2025 |
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Al 18.06.2025 List: 20.06.2025 |
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Monolithisch IPO |
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GMP | Sub2 | Message board |
43 | 32700 | |||
Allotment Today |
Subscription Status EoD3 |
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QIB | 129.20 | |||
Size: Rs.82.02 Cr. | ||||
Price Rs 143 | HNI | 459.98 | ||
Lot 1000 | ||||
Open 12.06.2025 | Retail | 94.11 | ||
Close 16.06.2025 | ||||
Al 17.06.2025 | 195179 Application | Total | 182.59 | |
List: 19.06.2025 | ||||
Premium Trend: The size of the IPO is somewhat large. Subscriptions have improved on the last day, yet huge oversubscription difficult. Premium trade-volume weak. |
Jainik Power IPO | ![]() |
GMP | Sub2 | Message board |
0 | 0 | |||
IPO Detail | Listing Today |
Subscription Status EOD3 |
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QIB | 1.01 | |||
Size: Rs.51.30 Cr. | ||||
Price Rs 110 | HNI | 1.13 | ||
Lot 1200 | ||||
Open 10.06.2025 | Retail | 2.08 | ||
Close 12.06.2025 | ||||
Al 13.06.2025 | Total | 1.54 | ||
List: 17.06.2025 | ||||
Premium Trend: Premium gone, once the subscription is below expectations. |
Sacheerome IPO |
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GMP | Allotted | Message board |
27 | 25,000 | |||
Listed @ Rs. 153 |
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Price Rs 102 Lot 1200 |
– | |||
Open 9.06.2025 Close 11.06.2025 |
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Al 12.06.2025 List: 16.06.2025 |
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Premium Trend: |
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Important
# Information given on this post/page is only coverage of News related to Grey Market. We do not deal in today grey market premium or Subject to rates, nor we recommend dealing in Grey Market. Movements in the grey market may not be based on any fundamental or other attractiveness of the IPO. It is based among other factors, on the estimate of oversubscription, interest-costs of the funds blocked, greediness of the IPO-applicants and also it may be affected by manipulations of the grey market operators/promoters.
# Investment decision based on Grey Market Premium can be faulty.
Frequently Asked Questions:
What should be that Winning Strategy in the Grey Market (Pre-IPO or Securities)
- Information is Power
- Get early and accurate info about the companies being traded—financials, promoter credibility, growth potential.
- Join reliable investor groups, forums, or get access to insider buzz (Telegram groups, Discord, or specific investment circles often help).
- Understand GMP (Grey Market Premium)
- The Grey Market Premium is an indicator of demand, but not a guarantee.
- Compare GMP with fundamentals and valuation—don’t go in just because the premium is high.
- Timing is Everything
- Many traders book profits before the official listing, especially if the listing is expected to be volatile.
- Don’t get greedy. If you’re making a decent return pre-listing, exit with discipline.
- Diversify Bets
- Don’t put all your capital into one IPO or one opportunity. Grey market is volatile and often illiquid.
- Treat it like swing trading—small, quick, and spread out.
- Stay Legal & Ethical
- Avoid any trades that could breach regulatory norms. SEBI (India), SEC (US), etc., can penalize if you cross into insider trading or illegal securities dealing.
- Documentation and proof of trades can be blurry in grey markets. Know your counterparty.
- Network with Dealers
- If you’re serious, you need strong relationships with grey market dealers—they often control access to pre-IPO shares or unofficial allocations.
Extra Pro Tips
- Track past IPOs: Study how previous high GMP shares performed on listing day. Patterns emerge.
- Watch anchor investor response: If institutions are biting, that’s usually a good sign.
- Avoid the hype trap: Sometimes, grey market interest is artificially inflated to lure retail investors.
What is Grey market?
A Grey Market also know as a parallel market, is an unofficial stock and applications market.
In this market, the investors trade for shares or applications before the shares are officially listed for trading in the stock exchange. Trading in grey market stocks in India is done in cash and in person.
No third-party firms such as Stock Exchanges or SEBI back this transaction. Kostak and Grey Market Premium are the two well-known terms in the Initial Public Offering (IPO) Grey Market.
Grey markets in India have existed as a parallel market for stocks for a long time, and traders and investors verify their authenticity.
What is Grey market Premium?
Grey Market Premiu is popularly known as GMP. The amount at which the IPO shares are traded is known as grey market premium. The company’s stock that will come up with the IPO is bought and sold outside the stock market. The live grey market premium is believed to reflect how the IPO will react on its listing day.
Lets understand with an example
Let’s assume that the issue price of Stock WIN is Rs. 100. And the grey market premium is Rs. 300. This suggests that investors are ready to purchase the shares of Company WIN for Rs.400 (100+300).
What is Subject to rate in an IPO?
Subject to Sauda price is an extension to the IPO Kostak rate. In subject to sauda, the buyer of the application agrees to pay a fixed price against the IPO application only if the seller of the IPO application receives allotment in the IPO. The subject-to-Sauda rates are generally higher than the Kostak rates.
Considering the above example, the buyer of the applicant agrees to pay an additional Rs 4,000 for the entire application provided the IPO applicant receives the allotment.
In this case, if the applicant secures no allotment, the deal gets cancelled. However, if the IPO applicant receives the allotment the buyer of the IPO application pays Rs 4,000 as the premium. The seller of the applicant either passes the listing gains to the seller or shares to the buyer of the IPO application for Rs 11,500 (7,500 + 4,000).
Note: Rs 7,500 is the amount for 15 shares bought at Rs 500. Rs 4000 is the premium buyer paid for the entire application.
What is Kostak & Sauda rates?
The IPO Kostak price is an agreed-upon price at which IPO applications are sold and purchased, regardless of their allotment status. The Kostak Price is the fixed price paid by the buyer of the IPO Application to the seller of the IPO Application.
The Kostak rate is the price for the entire IPO application and not per share. It is a price mutually agreed between the buyer and seller.
For example, an investor has applied for 15 shares at Rs 500 in an IPO amounting to Rs 7500. Now there is another investor who is bullish about this upcoming IPO and agrees to pay Rs 1,000 as the premium to purchase the entire IPO application. In this case, the seller of the IPO application secures a fixed profit of Rs 1,000 irrespective of whether he secures an allotment or not.
If the seller receives allotment and the listing happens at a premium, the seller is required to pass the listing gains to the buyer or credit the shares to the purchaser against Rs 8,500 (7,500 +1,000).
If the seller does not receive the allotment, still the buyer of the IPO application needs to pay Rs 1,000 to the seller of the IPO application.
How GMP is calculated?
There are many variables which determine the price of an IPO on the grey market.
The Grey market Premium (GMP) over an above the IPO issue price is determined by demand and supply statistics, similar to stock prices. I expect the grey market pricing to be lower. The players in the grey market estimate the listing price for an IPO and the difference between the estimated listing price and the issue price is considered as GMP.
The profitability of an Issuer company and the valuation as which the shares are offered also affect the estimate of listing price.
How Subject to & Kostak rate is calculated?
Types of Trading in Grey market?
Types of Trading in Grey Market
There are two types of trading in the grey market-
1.Trading of Applications, i.e., selling or buying IPO applications at a particular rate or premium.
2. Trading of Allotted Shares, i.e., selling or buying the allocated IPO shares before they get listed in the stock exchanges.
How do you calculate listing price from GMP?
GMP or Grey market Premium is rough indication of the premium/discount over the IPO-issue-price. At this juncture, we shall not go into the nitty gritty of how GMP is arrived at or quoted in the Grey market. The players add up GMP to the IPO-Issue-price and estimate the IPO listing price.
Let’s understand:
The GMP of an IPO of company SUCCESS is Rs. 25 and the shares are offered at Rs. 50. Then the shares are estimated to get listed at Rs 75 (Rs. 50+ Rs. 25 GMP)
Is trading in grey market illegal?
Yes, in simple words, the trading in the grey market is not legal and disapproved by the market regulator SEBI. Under normal circumstances, market factors determine the GMP, so the chances of fraud are not high in such IPOs. However, many a times, the grey market operator in connivance with the IPO-promoter/its lead manager manipulates the GMP, to attract the gullible and innocent investors to apply for the IPO and the investors incur losses. To prevent such frauds, the market regulator discourages grey market trading.
Who should you contact to trade in Grey Market?
As we know trading in a grey market is not legal, the trading in the grey market is often carried out over phone calls. There are no such official registered persons or traders for grey market trading. An investor willing to trade in the grey market needs to find a local dealer who will help find the buyers and sellers.
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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.