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Updated @ 9.00 pm on October 07, 2024. 
(Next update will at 10.00 pm today)

Frequently Asked Questions:

GUPSHUP of IPO-MARKET

Afcon Infrastructure IPO: SP Group altered its plans for the IPO of Afcons. Now, it plans raise up to Rs 4,000 crore in a pre-IPO round and around Rs 4,500 crore in the IPO. Earlier, the plan was to raise Rs 7,000 crore in the IPO.

Shapoorji Pallonji Group seeks waivers from lenders for launch of Afcons pre-IPO and IPO share sale

Hyundai Motor IPO: The much-awaited initial public offering (IPO) of Hyundai Motor India, the Indian arm of South Korean automaker Hyundai, is expected to hit the market on October 14, said people familiar with the development. Valued at about Rs 25,000 crore, it will be the largest IPO in the Indian capital market history. The previous largest IPO in India was of LIC’s initial share sale of Rs 21,000 crore. Premium has crashed from Rs. 570 to Rs.260 now.  Grey market players fear exceptionally high offer price.

Swiggy gets shareholder nod to increase IPO size. While the exact figure could not be ascertained, sources said that the primary issue will be upsized to around Rs 5,000 crore from the current Rs 3,750 crore. 

Swiggy IPO:  To study the IPO details, Click
The proposed IPO comprises a fresh issue of equity shares worth Rs 5,000 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders. Dealings in Unlisted Shares: Swiggy shares selling like hot cakes in unlisted market as IPO buzz fuels 40% surge. Swiggy shares, which were trading at around Rs 355 in July this year, shot up by nearly 40% in just two months to currently command a price of around Rs 490 in the unlisted market.

NTPC Green IPO: Now no more inquiries seen in premium trades.

 Anticipated shareholder’s quota in forthcoming IPOs:

HDD Finance IPO (HDFC Bank shareholders)
Kotak Bank AMC IPO & Kotak Securities IPO (Kotak Bank shareholders)
SBI Funds management IPO & SBI home Finance (SBI shares holders)
Reliance Jio and Reliance Retail (Reliance Industries shareholders)
Buying one shares of parent companies may prove profitable to avail shareholders’ Quota.

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*Only website which provide “Application rates” अरजी बेचने खरीदने के भाव
*Subject to trades always stop on Allotment. After allotment, there are trades in Allotted Applications. Only we provide such “Rates for allotted Applications“

Hyundai IPO GMP		GMP
		270
Net Size: Rs ? Cr.	Must APPLY		Appli.	Sub2
Price Rs 1750/1900(T) Lot    8(T)	Retail		1500	–
Open 16 Oct 2024 (T) Close 18 Oct 2024(T)	Small HNIs		3800	–
Al       21.10.2024 List:    23.10.2024	Big HNIS		13000
Trade valid only if the IPO comes before 31 Nov 2024

NTPC Green IPO GMP		GMP	No trades
		31/34
Net Size: Rs ? Cr.	Must APPLY		Appli.	Sub2
Price Rs ? Lot    ?	Retail		1100	6,500
Open ? Close ?	Small HNIs		2,700	91,000
Al       ? List:    ?	Big HNIS		20,000	91,000
Trade valid only if the IPO comes before 31 Dec 2024

Pranik Logisticis IPO GMP		GMP	Sub2	Allotted
				Not yet
Full details of this IPO
Price Rs 73-77 Lot    1600			–
Open 10.10.2024 Close 14.10.2024
Al       15.10.2024 List:    17.10.2024
Net Size Rs.21.23Crore, LM: Narnolia Financials

Garuda Construction IPO GMP		GMP	No trades
		10
for IPO details, Click.	APPLY		Appli.	Sub2
Price Rs 95 Lot    157	Retail			1200
Open 8.10.2024 Close 10.10.2024	Small HNIs			16800
Al       11.10.2024 List:    15.10.2024	Big HNIS			16800
Size : Rs. 264.10 Cr.

Shiv Texchem IPO GMP		GMP	Sub2	Allotted
		40	24300	Not yet
Full details of this IPO
Price Rs 158-166 Lot    800			–
Open 08.10.2024 Close 10.10.2024
Al       11.10.2024 List:    15.10.2024
Net Size Rs.96.28 Crore, LM: Vivro Financial

Khyati Global IPO GMP		GMP	Sub2	Allotted
		–	–	Not yet
Net Size Rs.26.22 Crore LM: Aryaman Financial	IPO is Open
Price Rs 99 Lot    1200			–
Open 04.10.2024 Close 08.10.2024
Al       09.10.2024 List:    11.10.2024
Full details of this IPO

Neopolitan Pizza IPO GMP		GMP	Sub2	Allotted
		–	–	Not yet
Net Size Rs.12.00 Crore LM: Turnaround Corporate	Allotment Today
Price Rs 20 Lot    6000			–
Open 30.09.2024 Close 04.10.2024
Al       07.10.2024 List:    09.10.2024
Full details of this IPO

Subam Papers IPO GMP		GMP	Sub2	Allotted
		24		4500
Net Size Rs89.01 Crore LM: Gretex Corporate	Credit of shares	Applic
Price Rs 152 Lot    800			–
Open 30.09.2024 Close 03.10.2024
Al       04.10.2024 List:    08.10.2024
Full details of this IPO

Paramount Dye IPO GMP		GMP	Sub2	Allotted
		5	4600	Not yet
	Credit of Shares
Price Rs 117 Lot   1200			–
Open 30.09.2024 Close 03.10.2024
Al       04.10.2024 List:    08.10.2024
Net Size Rs.31.82 Crore LM: Gretex Corporate

HVAX Technologies IPO GMP		GMP	Sub2	Allotted
		25	5700	Not yet
Listed at Rs. 486, 6.11% premium	Listed
Price Rs 458 Lot    300	Retail Applications		4500
Open 27.09.2024 Close 01.10.2024
Al       03.10.2024 List:    07.10.2024
Net Size Rs.31.82 Crore LM: Fedex Securities

Saj Hotels IPO GMP		GMP	Sub2	Allotted
		–	–	Not yet
Listed at Rs. 55, 15.38% discount	Listed
Price Rs 65 Lot    2000			–
Open 27.09.2024 Close 01.10.2024
Al       03.10.2024 List:    07.10.2024
Net Size Rs.? Crore LM: Corpvis Advisors

Nexxus Petro IPO GMP		GMP	Sub2	Allotted
		–	–	10000
Listed @ Rs. 126,20% premium	listed
Price Rs 105 Lot    1200			–
Open 26.09.2024 Close 30.09.2024
Al       01.10.2024 List:    04.10.2024
Net Size Rs.18.45 Crore LM: Srujan Alpha Capital

Diffusion Engineers IPO GMP		GMP	R-Allotted	B-Allotted
		55	4600	64,400
Listed at Rs. 193.50, 15.18% premium	Listed		Appli.	Sub2
Price 168 Lot    88	Retail
Open 26.09.2024 Close 30.09.2024	Small HNIs
Al       01.10.2024 List:    04.10.2024	Big HNIS
0

Forge Auto IPO GMP		GMP	Sub2	Allotted
		15	13700	Not yet
Listed @ Rs. 113,4,63% premium	Listed	APPLY
Price Rs 108 Lot    1200			–
Open 26.09.2024 Close 30.09.2024
Al       01.10.2024 List:    04.10.2024
Net Size Rs.29.52 Crore LM: Hem Securities ltd

Sahasra Electronics IPO GMP		GMP	Sub2	Allotted
		172		60,000
Listed at Rs. 537.70, 90% premium	Listed
Price Rs 283 Lot    400			–
Open 26.09.2024 Close 30.09.2024
Al       01.10.2024 List:    04.10.2024
Net Size Rs.176.85 Crore LM: Hem Securities ltd

Divyadhan recycling IPO GMP		GMP	Sub2	Allotted
		–	–	20000
Listed at Rs. 84, premium of 31.25%	Listed
Price Rs ? Lot    ?			–
Open 26.09.2024 Close 30.09.2024
Al       01.10.2024 List:    04.10.2024
LM: Shreni Shares

Unilex Colours IPO GMP		GMP	Sub2	Allotted
		4		Not yet
Listed at Rs. 89, 2.30% premium	listed
Price Rs 87 Lot    1600			–
Open 25.09.2024 Close 27.09.2024
Al       30.09.2024 List:    03.10.2024
LM: Horizon Financial Pvt ltd, Net Size Rs.31.32 Cr

TechEra Engineering IPO GMP		GMP	Sub2	Allotted
		18		23000
Listed at Rs. 125, 52,44% premium	Listed
Price Rs 82 Lot    1600			–
Open 25.09.2024 Close 27.09.2024
Al       30.09.2024 List:    03.10.2024
LM: Horizon Financial Pvt ltd, Net Size Rs.35.90 Cr

Thinking Hats IPO GMP		GMP	Sub2	Allotted
		30	68,400	Not yet
Listed at Rs. 60, 36.36% premium	Listed
Price Rs 42-44 Lot    3000			–
Open 25.09.2024 Close 27.09.2024
Al       30.09.2024 List:    03.10.2024
LM: Horizon Financial Pvt ltd, Net Size Rs.14.30 Crore

KRN Heat Exchangers IPO GMP		GMP	R Allotted	H-Allotted
		230	15800	221000
Listed at Rs. 480, 118.18% premium	Listed		Appli.	Sub2
Price Rs220 Lot    65	Retail
Open 25.09.2024 Close 27.09.2024	Small HNIs
Al       30.09.2024 List:    03.10.2024	Big HNIS
Net Size: Rs 341.51 Cr.0

Manba Finance IPO GMP		GMP
		38
	Listed		Appli.	Sub2
Price Rs 120 Lot    125	Retail			4700
Open 23.09.2024 Close 25.09.2024	Small HNIs			65800
Al       26.09.2024 List:    30.09.2024	Big HNIS			65800
Listed @ Rs. 145 / 20.83 % premium

Rappid Valves IPO GMP		GMP	Sub2	Allotted
		100	45600	Not yet
Listed @ Rs.312 / 40.54 % premium	Listed
Price Rs 222 Lot    600			–
Open 23.09.2024 Close 25.09.2024
Al       26.09.2024 List:    30.09.2024
LM: Shreni Shares

WOL3D IPO GMP		GMP	Sub2	Allotted
		85	64600	Not yet
Listed @ Rs.180.05 / 20.03 % premium	Listed
Price Rs 150 Lot    1000			–
Open 23.09.2024 Close 25.09.2024
Al       26.09.2024 List:    30.09.2024
LM: Hem Securities

S D Retail IPO GMP		GMP	Sub2	Allotted
		30	22,800	Not yet
Listed @ Rs.145/ 10.69% premium
Price Rs 131 Lot    1000			–
Open 20.09.2024 Close 24.09.2024
Al       25.09.2024 List:    27.09.2024
LM: Beeline Capital Advisors

Phoenix Overseas IPO GMP		GMP	Sub2	Allotted
		40	60,800	Not yet
Listed @ Rs. 64/ 0% premium
Price Rs 64 Lot    2000			–
Open 20.09.2024 Close 24.09.2024
Al       25.09.2024 List:    27.09.2024
LM: Khandwala Securities ltd

Bikewo IPO GMP		GMP	Sub2	Allotted
		7	10,600	Not yet
Listed @ Rs. 45.00/ Discount of 27,42%
Price Rs 62 Lot    2000			–
Open 20.09.2024 Close 24.09.2024
Al       25.09.2024 List:    27.09.2024
LM:

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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.

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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