grey market premium today ipo grey market premium GMP
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Updated @ 10.00 pm on October 22, 2024.
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HDB Financial Services IPO
India’s biggest lender HDFC Bank on Saturday shared an update on the OFS component of the proposed IPO of its subsidiary HDB Financial Services.
HDFC Bank on Saturday informed that its board has given its nod to the Offer for Sale of equity of up to Rs 10,000 crore in the HDB Financial Services IPO. Currently, HDFC Bank holds 94.64 per cent stake in the company. The lender was required to list HDB financials by September 25 as per regulatory requirements.
Accordingly, the IPO will be for such number of equity shares of face value of Rs 10 each of HDBFS aggregating up to Rs 12,500 crore comprising of a fresh issue of such number of equity shares of face value of Rs 10 each of HDBFS aggregating up to Rs 2,500 crore and an OFS of such number of equity shares of face value of Rs 10 each of HDBFS aggregating up to Rs 10,000 crore, HDFC Bank has informed.
Worth mentioning here that the Rs 12,500 crore IPO size of HDB Financial Services will take the issue in the top 5 biggest IPOs in India. The issue size will also be bigger than that of Reliance Power, Zomato, among others.
Hyundai, views on Listing: The listing of this IPO was much awaited. After listing at Rs. 1934, the counter has witnessed selling pressure of retail and HNI investors. and once the selling pressure subsides, the share is expected to witness strong recovery. Can be accumulated as long term investment.
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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*Subject to trades always stop on Allotment. After allotment, there are trades in Allotted Applications. Only we provide such “Rates for allotted Applications“
Afcon Infrastructure IPO GMP |
 |
GMP | ||
| 45 | ||||
| Net Size: Rs 5430 Cr. | Appli. | Sub2 | ||
| Price Rs ? Lot ? |
Retail | 870 | 1100 | |
| Open 25 Oct 2024 Close 29 Oct 2024 |
Small HNIs | 2000 | 15400 | |
| Al 30.10.2024 List: 04.11.2024 |
Big HNIS | 8000 | 15400 | |
| Details & IPO Review | ||||
Usha Financial IPO GMP |
 |
GMP | Sub2 | Allotted |
| 50 | 30400 | Not yet | ||
| Full details of this IPO | ||||
| Price Rs 168 Lot 800 |
– | |||
| Open 24.10.2024 Close 28.10.2024 |
||||
| Al 29.10.2024 List: 31.10.2024 |
||||
| Net Size Rs. 98.45 Crore, LM: | ||||
Godavari Bio IPO GMP |
 |
GMP | ||
| – | ||||
| Appli. | Sub2 | |||
| Price Rs ? Lot ? |
Retail | 0 | – | |
| Open 23 Oct 2024 Close 25 Oct 2024 |
Small HNIs | 0 | – | |
| Al 28.10.2024 List: 30.10.2024 |
Big HNIS | 0 | – | |
| Net Size: Rs ? Cr. | ||||
United Heat IPO GMP |
 |
GMP | Sub2 | Allotted |
| 14 | 31900 | Not yet | ||
| IPO Details & Review | ||||
| Price Rs 59 Lot 3000 |
– | |||
| Open 22.10.2024 Close 24.10.2024 |
||||
| Al 25.10.2024 List: 29.10.2024 |
||||
| Net Size Rs. 30.00 Crore, LM: Swastika Investmart | ||||
Danish Power IPO GMP |
|
GMP | Sub2 | Allotted |
| 265 | 60400 | Not yet | ||
| IPO details & review | ||||
| Price Rs 380 Lot 300 |
– | |||
| Open 22.10.2024 Close 24.10.2024 |
||||
| Al 25.10.2024 List: 29.10.2024 |
||||
| Net Size Rs. 197.90 Crore, LM: Hem Securities | ||||
OBSC Perfection IPO GMP |
 |
GMP | Sub2 | Allotted |
| 11 | 10000 | Not yet | ||
| IPO details & review | ||||
| Price Rs 100 Lot 1200 |
– | |||
| Open 22.10.2024 Close 24.10.2024 |
||||
| Al 25.10.2024 List: 29.10.2024 |
||||
| Net Size Rs. 66.02 Crore, LM: Unistone Capital | ||||
Premier Plast IPO GMP |
 |
GMP | Sub2 | Allotted |
| 14 | 31400 | Not yet | ||
| Full details of this IPO | ||||
| Price Rs 49 Lot 3000 |
– | |||
| Open 21.10.2024 Close 23.10.2024 |
||||
| Al 23.10.2024 List: 28.10.2024 |
||||
| Net Size Rs. 26.20 Crore, LM: Khandwala | ||||
Deepak Builders IPO GMP |
 |
GMP | ||
| 61 | ||||
| Net Size: Rs 260.04 Cr. | Appli. | Sub2 | ||
| Price Rs 203 Lot 73 |
Retail | 0 | 2500 | |
| Open 21 Oct 2024 Close 23 Oct 2024 |
Small HNIs | 0 | 34000 | |
| Al 24.10.2024 List: 28.10.2024 |
Big HNIS | 0 | 34000 | |
| Details & IPO Review | ||||
Waaree Energies IPO GMP |
 |
GMP | GMP S | |
| 1375 | ||||
| Net Size: Rs 4321.44 Cr. | Appli. | Sub2 | ||
| Price Rs 1503 Lot 9 |
Retail | 1470 |
9,000 | |
| Open 21 Oct 2024 Close 23 Oct 2024 |
Small HNIs | 2900 |
140,000 | |
| Al 24.10.2024 List: 28.10.2024 |
Big HNIS | 13600 |
140,000 | |
| Details & IPO Review | ||||
Freshara Agro IPO GMP |
|
GMP | Sub2 | Allotted |
| 105 | 95800 | Not yet | ||
| Full details of this IPO | May Apply | |||
| Price Rs 116 Lot 1200 |
– | |||
| Open 17.10.2024 Close 21.10.2024 |
||||
| Al 22.10.2024 List: 24.10.2024 |
||||
| Net Size Rs. 68.21 Crore, LM: GYR Capital | ||||
Lakshya Powertech IPO GMP |
 |
GMP | Sub2 | Allotted |
| 190 | 115500 | Not yet | ||
| Full details of this IPO | ||||
| Price Rs 180 Lot 800 |
– | |||
| Open 16.10.2024 Close 18.10.2024 |
||||
| Al 21.10.2024 List: 23.10.2024 |
||||
| Net Size Rs.49.91 Crore, LM: Narnolia Financials | ||||
Hyundai IPO GMP |
 |
GMP | Buyer | Seller |
| 10 | 45 | |||
| Listed at Rs. 1934. | Listed |
Appli. | Sub2 | |
| Price Rs 1865/1960 Lot 7 |
Retail allotted | closed | – | |
| Open 15 Oct 2024 Close 17 Oct 2024 |
Small HNIs | Closed | – | |
| Al 18.10.2024 List: 22.10.2024 |
Big HNIS | – | – | |
| Net Size: Rs 27870 Cr .Details & IPO Review | ||||
Pranik Logisticis IPO GMP |
 |
GMP | Sub2 | Allotted |
| 12 | 14600 | Not yet | ||
| Listing at Rs. 79, 2.60% premium | Listed | |||
| 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 | |
| 0 | ||||
| Listed at Rs. 105, 10.53% premium | Listed |
Appli. | Sub2 | |
| Price Rs 95 Lot 157 |
Retail | 0 | ||
| Open 8.10.2024 Close 10.10.2024 |
Small HNIs | 0 | ||
| Al 11.10.2024 List: 15.10.2024 |
Big HNIS | 0 | ||
| Size : Rs. 264.10 Cr. | ||||
Shiv Texchem IPO GMP |
 |
GMP | Sub2 | Allotted |
| 70 | 45000 | |||
| Listed at Rs. 239, 43.98% premium | Listed | |||
| 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 | ||||
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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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One thought on “GMP & Subject to Rates at a Glance”
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Good that you provide this valuable information.