GMP vs Reality Tracker provides a clear comparison between IPO grey market expectations and actual listing performance. While Grey Market Premium (GMP) is widely used by investors to estimate listing gains, real market outcomes often differ due to demand dynamics, market sentiment and institutional participation.
This tracker helps investors analyse how accurate GMP trends have been across recent SME and mainboard IPOs by comparing expected gains with actual listing results. It highlights whether GMP signals were reliable, overestimated or misleading in each case.
By studying this data, investors can better understand the limitations of GMP and make more informed IPO investment decisions based on real outcomes rather than speculative indicators.
| IPO Name | M/SME | Listing | GMP | Listing Gain | Accuracy |
| Rajputana Stainless Steel IPO | Mainboard | 19-Mar-26 | Rs. 3 | 0% | Overestimated |
What Investors Should Learn
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GMP is an indicator, not a guarantee
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SME IPOs can be high risk–high reward
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Listing gains depend on demand, not just fundamentals
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Always evaluate valuation + business strength together