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    GMP & Subject to Rates at a Glance

    grey market premium today ipo grey market premium GMP

    Grey Market Premium dpboss Market Undercurrent

    ChanakyaNiPothi.com, A legacy of 31 Years.
    India`s The Oldest Investment & IPO website.
    Most Trusted by Investors across India.

    Updated @ 8.00 pm on September 7, 2024. 
    (Next update will at 6.00 am tomorrow)

    Frequently Asked Questions:

    GUPSHUP of IPO-MARKET

    Extra ordinary rush in IPO Market:  Premium buyers have been CHOOSY, Trades at very select counters, Negative listing impact seen on Baazar IPO, which listed at par, inspite of Rs.33 premium.

    P N Gadgil Mainboard IPO:  Strong business and yet premium declined since morning.

    Bajaj Housing Finance Mainboard IPO:  Euphoria showing downtrend. Premium steadily declined from Rs. 54-56 in the morning to Rs. 49 at present. Huge oversubscription anticipated, Due to low chances of allotment, the investors prefer to sell Applications and be safe.

    Gala Precision Mainboard IPO:  Listing on 9th September, Premium down. Allotted Applications rates are now

    Shree Tirupati Balaji Mainboard IPO:  Premium and Subject to rates are now live, but very low volume. The IPO size is very tiny, so grey market operators are not willing to take more exposure.

    Trafiksol SME IPO: Strong fundamentals, Premium shoots up with bang, Huge oversubscription anticipated

    Jeyyam and Boss SME IPO: Premium rates are live but very thin volume at both the counters.

    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.

    Follow Chanakya’s Official Whats’app Channel, click
    https://whatsapp.com/channel/0029Vaftj7AAYlUQiip6s10e

    *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 suchRates for allotted Applications

    Envirotech Systems IPO GMP

    Envirotech Systems IPO GMP GMP Sub2 Allotted
    Not yet
    Net Size Rs.30.24 Cr        
    Price Rs 53-56
    Lot    2000
       
    Open 13.09.2024
    Close 17.09.2024 
         
    Al       18.09.2024
    List:    20.09.2024 
         
    LM: 

     

    Innomet Advanced IPO GMP

    innomet advance IPO GMP GMP Sub2 Allotted
    Not yet
    Net Size Rs.34.24 Cr        
    Price Rs 10
    Lot    1600
       
    Open 11.09.2024
    Close 13.09.2024 
         
    Al       16.09.2024
    List:    18.09.2024 
         
    LM: 

    Excellent Wires IPO GMP

    excellent wires IPO GMP GMP Sub2 Allotted
    Not yet
    Net Size Rs.77.84 Cr        
    Price Rs 90
    Lot    1600
       
    Open 11.09.2024
    Close 13.09.2024 
         
    Al       16.09.2024
    List:    18.09.2024 
         
    LM: Inventure Merchant Banker services

    Trafiksol IPO GMP

    trafiksol ipo gmp GMP Sub2 Allotted
    80 121600 Not yet
    Net Size Rs.44.87 Cr        
    Price Rs 70
    Lot    2000
       
    Open 10.09.2024
    Close 12.09.2024 
         
    Al       13.09.2024
    List:    17.09.2024 
         
    LM: 

     

    SPP Polymers IPO GMP

    spp Polymers IPO GMP GMP Sub2 Allotted
    25 38000 Not yet
    Net Size Rs.77.84 Cr        
    Price Rs 59
    Lot    2000
       
    Open 10.09.2024
    Close 12.09.2024 
         
    Al       13.09.2024
    List:    17.09.2024 
         
    LM: 

    P N Gadgil IPO GMP

    p n gadgil ipo gmp GMP    
    177    
    Net Size: Rs 1100 Cr.     Appli. Sub2
    Price Rs 456-480
    Lot    31
    Retail Applications 500 close
    Open 10.09.2024
    Close 12.09.2024
    Small HNIs Close Close
    Al       13.09.2024
    List:    17.09.2024
    Big HNIS 5300 Close
    0

    Kross IPO GMP

    kross IPO GMP GMP    
         
    Net Size: Rs 500 Cr.     Appli. Sub2
    Price Rs 240
    Lot    62
    Retail Applications    
    Open 9.09.2024
    Close 11.09.2024
    Small HNIs    
    Al       12.09.2024
    List:    16.09.2024
    Big HNIS    
    0

    Tolin Tyres IPO GMP

    tolin tyres ipo gmp GMP    
    25    
    Net Size: Rs 230 Cr.     Appli. Sub2
    Price Rs 216
    Lot    66
    Retail Applications   1300
    Open 9.09.2024
    Close 11.09.2024
    Small HNIs   18200
    Al       12.09.2024
    List:    16.09.2024
    Big HNIS   18200
     

    Bajaj Housing Fin. IPO GMP

    Bajaj Housing Finance GMP GMP    
    51    
    Net Size: Rs 6560 Cr.     Appli. Sub2
    Price Rs 66-70
    Lot    214
    Retail Applications 2550 close
    Open 9.09.2024
    Close 11.09.2024
    Small HNIs 2+ 6900 Close
    Al       12.09.2024
    List:    16.09.2024
    Big HNIS 21800 close
    Shareholder HNI Application Rs. 7600

    Gajanand International IPO GMP

    gajanand international IPO GMP GMP Sub2 Allotted
    Not yet
    Net Size Rs.20.65 Cr        
    Price Rs 36
    Lot    3000
       
    Open 9.09.2024
    Close 11.09.2024 
         
    Al       12.09.2024
    List:    16.09.2024 
         
    LM: Fast Track Finsec Pvt ltd

    Shubhshree Biofuels IPO GMP

    shubhshree biofuels ipo gmp GMP Sub2 Allotted
    Not yet
    Net Size Rs.  Cr        
    Price Rs 119
    Lot    1200
       
    Open 9.09.2024
    Close 11.09.2024 
         
    Al       12.09.2024
    List:    16.09.2024 
         
    LM:

    Aditya Ultra Steel IPO GMP

    aditya Ultra steel IPO GMP Sub2 Allotted
    Not yet
    Net Size Rs. 43.59 Cr        
    Price Rs 62
    Lot    2000
       
    Open 9.09.2024
    Close 11.09.2024 
         
    Al       12.09.2024
    List:    16.09.2024 
         
    LM: Swastik Instmart Pvt ltd

    Vision Infra Equipment IPO GMP

    vision infra equipment ipo GMP Sub2 Allotted
    Not yet
    Net Size Rs. 106.21 Cr        
    Price Rs 163
    Lot    800
       
    Open 6.09.2024
    Close 10.09.2024 
         
    Al       11.09.2024
    List:    13.09.2024 
         
    LM:

    Shree Tirupati IPO GMP

      GMP    
    40    
    Net Size: Rs 169.65 Cr.     Appli. Sub2
    Price Rs 83
    Lot    180
    Retail Applications 5500
    Open 5.09.2024
    Close 9.09.2024
    Small HNIs 2+ 77000
    Al       10.09.2024
    List:    12.09.2024
    Big HNIS 77000
     

    My Mudra Fincorp IPO GMP

      GMP Sub2 Allotted
    40 36500 Not yet
    Net Size Rs.  31.57 Cr        
    Price Rs 110
    Lot    1200
       
    Open 5.09.2024
    Close 9.09.2024 
         
    Al       10.09.2024
    List:    12.09.2024 
         
    LM:

    Namo eWaste IPO GMP

      GMP Sub2 Allotted
    50 60800 Not yet
    Net Size Rs.48.63 Cr        
    Price Rs 85
    Lot    1600
       
    Open 4.09.2024
    Close 6.09.2024 
         
    Al       9.09.2024
    List:    11.09.2024 
         
    LM: Hem Securities

    Mach Conferences IPO GMP

    mach conferance IPO GMP GMP Sub2 Allotted
    210 95800 Not yet
    Net Size Rs.118.53 Cr        
    Price Rs 225
    Lot    600
       
    Open 4.09.2024
    Close 6.09.2024 
         
    Al       9.09.2024
    List:    11.09.2024 
         
    LM: Beeline Capital Advisors

    Gala Precision IPO GMP

    Gala Precision IPO GMP GMP    
    245    
    Net Size: Rs 167.93 Cr. Listing on 9/9   Appli. Sub2
    Price Rs 529
    Lot    28
    Retail allotted 6000  
    Open 2.09.2024
    Close 4.09.2024
    HNIs Allotted 84000  
    Al       5.09.2024
    List:    9.09.2024
       
     

    Naturewings Holidays IPO GMP

    naturewings holidays ipo gmp GMP Sub2 Allotted
    30 36500 Not yet
    Net Size Rs.  7.03 Cr        
    Price Rs 74
    Lot    1600
       
    Open 3.09.2024
    Close 5.09.2024 
         
    Al       6.09.2024
    List:    10.09.2024 
         
    LM:

    Jeyyam Global Foods IPO GMP

    Jeyyam Global Foods IPO GMP Sub2 Allotted
    18 27400 Not yet
    Net Size Rs.77.84 Cr        
    Price Rs 61
    Lot    2000
       
    Open 2.09.2024
    Close 4.09.2024 
         
    Al       5.09.2024
    List:    9.09.2024 
         
    LM: Corpwis Advisors pvt ltd

    Boss Packaging IPO GMP

    boss packaging IPO GMP GMP Sub2 Allotted
    10 15200 Not yet
    Listed @ Rs. 82.50,25% premium Listed on 6/9      
    Price Rs 66
    Lot    2000
       
    Open 30.08.2024
    Close 3.09.2024 
         
    Al       4.09.2024
    List:    6.09.2024 
         
    LM: Fedex Securities Pvt ltd Net Size Rs.7.97 Cr

    Baazar Style Retail IPO GMP

    Baazar Style Retail IPO GMP    
    55    
    Listed @ Rs. 389,0% premium Listed on 6/9   Appli. Sub2
    Price Rs 389
    Lot    38
    Retail Allotted 1300
    Open 30.08.2024
    Close 3.09.2024
    HNIs 18150
    Al       4.09.2024
    List:    6.09.2024
         
     

    Travel & Rentals IPO GMP

    travels & rentals IPO GMP GMP Sub2 Allotted
    20 45600 Not yet
    Listed @ Rs. 55, premium of 37.50% Listed on 6/9      
    Price Rs 40
    Lot    3000
       
    Open 29.08.2024
    Close 02.09.2024 
         
    Al       3.09.2024
    List:    5.09.2024 
         
    Net Size Rs.168.48 Cr 608.46T subscribed

    Quicklinks

    Important IPO grey market
    # 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 DP Boss?

    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.

    IPO GMP

    Grey Market Premium

    latest ipo gmp today

    Grey market premium today

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    IPO Grey Market Premium

    128 Comments on “GMP & Subject to Rates at a Glance

      1. admin Post author

        WE provide our guidance on the IPO page and also in separate IPO guidance page. Pl study the same and take decision

    1. Narinder Kumar Goyal

      Sir,
      Your site is very helpful but data in the IPO details is not being updated which misleads the public.
      For example
      In the IPO detals of Koura fine diamond jewellery you have mentioned issue price is Rs.550 instead of Rs.55 & closing date is 8th March insted of 11th March.
      Kindly update accordingly.
      Regards,

      1. admin Post author

        Thanks for drawing attention to this aspect. WE shall try best to avoid such small mistakes. Do point out if mistake repeats.

    2. Test

      Plrefer your gupshup page MVK Agro. Hem is NOT the LM. PL correct it. It is very misleading.

    3. RAMARAO VENKATESHA MURTHY

      I want to buy pre ipo in Grey market. Pl give me phone or mobil2 number to connect. My mobile 8149143309

    4. Devendra

      Want To Take… Euphoria Or lawsikho Ipo.. which is best and What is chance to gain profit and ti get the IPO

    5. Anurag Sheth, Mumbai

      Premium of Mediassist is going to shoot up once the IPO opens for subscription. Buy Now.

    6. Santosh Jain, Jaipur

      Good that you have separated Mainboard IPO subscriptions and SME IPO subscriptions. Gives better clarity.

    7. Anuja Sheth, Mumbai

      Your initiative to update the content every 60 minutes is very useful and get 360 degree view of the IPO market. Your subscription status updates are with comments are also very useful.

    8. Bhanwar Sheth, New Delhi

      I found the content Well researched and highly informative. I provides useful indications for IPO applications.

    9. Jaya Prasad, Pune

      Your initiatives are excellent. In stead of dry figures, you provide expert comments and I feel your comments and observations have better value and usefulness.
      Based on your observation about fall premium in Innova IPO, I got rid of premium shares and Now I avoided huge loss. Thanks a lot

    10. Daya Nand Aggarwal

      Now a days
      1. GMP crashes just before listing date
      2. Listing happens even less than crashed GMP.
      3. Since then downing of shares price starts.
      4. Even in so rising market, one recent past shares is rising.

      May you investigate.

    11. राजेश कुमार

      कल्याणी कास्ट टेक आ पी ओ मे एक लोट मे 1000 सेयर है। और यंहा 1600 सेयर लिखा है। कैसे ईनके द्वारा जी जानकारी हमलोगों के लिये फायदेमंद होगा। ये हमारे नुकसान का करण भी बन सकता है। पढ़ने वाले दूसरे वेबसाइट पर सेयर की की तुलना जरूर करे।

    12. Daya Nand Aggarwal

      Sir , if possible on GMP page main line and SME IPO may be separated and also posted chronological order. It will be great help to read.

    13. Janki Patel, Ahmedabad

      There is small suggestion. Pl remove GMP of all IPOs from this page.It is not necessary.

    14. Anand Patel, CA

      Rightly said, legacy of 31 years.
      You enjoy love of the readers since last many decades. In this era of large number of competitors enter the market every day, you have retained your No. 1 position. It quite impressive.
      Being a CA, I have been following your newspaper since last 20 years and your site since last 2 years.

    15. Sushma Patel, Ahmedabad

      Very informative site. You also provide allotted application rates and also over subscription estimate. This is quite impressive. Now there is no need to check information on any other site.
      Congrats

      1. admin Post author

        Only if the fundamentals are strong and the valuation is okay. Otherwise donot buy such shares. Because of low liquidity, most of the times, you will be stuck.

      1. admin Post author

        Since last 3/4 days, because of large number of IPOs, the market seems confused and no trades are seen at most of the IPO counters. What you see is just rates, no actual trades.

      1. admin Post author

        In reality, there are no trades except premium, Rates of kostak and subject to are old rates at Chanakya and also other sites. Current/live rates are marked in Red, which we specifically inform on the top of the page.

    16. Akshay

      Please remove Old IPO’s from this page. Better to remove after 1 week of listing. Also, do post GMP with Rs and Percentage for easier understanding.

    17. Parth Raval

      Jio Financial listing…what is plan … Price 261.85 + (premium) ???

      261.85+250 or more???

    18. R C Garg

      Admin Sir,

      I wish to know GMP & Listing Price of all past IPOs (Main Board + SME IPO – Both ) from 01-01-2023 for analytical study purpose. Can you retrieve old data from your site and help me please.

      R C Garg

    19. Ashutosh

      How Can I sell my ipo application in grey market if any idea pls guide….
      Pls help…

    20. Anurag Sheth, Mumbai

      Very indepth reporting. Many a times I have observed that the subject to rates reported by you is first of its kind. No other sites report such actively.

    21. Sujata Mehta, Mumbai

      Not just reporting old rates.Your GMP page gives indication of live rates by marking them in red ink. Good efforts.
      Time to time updation is also a welcome feature.

    22. Sushma Patel, Ahmedabad

      Since one month I have observed impressive changes in the grey market reporting.You cover subject to rates and even fixed application rates/ kostak in very detail. No other sites provide such details.
      Congrats and all the best.

    23. Daya Nand Aggarwal

      Sir generally in SME ipos allotment is not received even though it is subscribed one time. Why is it so what are difficulty in sme ipo. May you publish on article on it.

      1. admin Post author

        Similar problem is faced by most of the investors/ applicants. We are going to carry out research on the same and will inform soon

    24. Sagar

      GMP of SAH POLYMERS as per Chittorgarh is only 3.
      Chanakya shows 15, not sure which to believe.
      Can you please clarify?

      1. admin Post author

        There can be difference in GMP and also subject to rates because of difference of updation time and also source of the same.

    25. Daya Nand Aggarwal

      If we require GMP only, we can open GMP page. It will reflect all GMP at one page. I like this format

      1. admin Post author

        Maybe you are right. In earlier website, the readers requested that to study grey market rates or subscription figures, they had to check on 10 posts. So, they asked for single page for all GMPs and single page for all data on subscriptions. We also agreed to the said suggestion and so we have adopted new format of providing grey market premium and subscription data.
        We would like to know why you did not like new format. so that changes if any can be done.

    26. PARTH

      One should also include the expert opinion for IPOs like must apply, may apply, avoid etc. For the IPOs and most for SMEs to build up balance and knowledge for the IPOs

    27. Homi Patel,Mumbai

      For few sessions during Diwali, I hope the grey market will remain dead, no read Saudas.

    28. Sudhir Mehta, Vadodara

      Information you provide is always very genuine. Some other websites, give data but in reality, you will not find any trades at those rates.

      It is good that you remove past rates or show them in different colour.

    29. Vinod kumar

      @admin are all sme IPOs are traded.I think no and contain technology is highly subsidised sme ipo but you still not showing.

      1. admin Post author

        When trades stop, we do not report on the page. However, we shall mark fresh rates with different colour.

    30. Umesh Panwala

      What is meaning of —
      Subject to,
      Alloted application,
      Fix applications,
      Words used in this blog regarding GMP.

    31. Nobita

      @Admin, first of all a very happy new year to you and the whole staff of chanakya ni pothi.

      I appreciate that you guys have started covering sme IPOs.

      Please if you can manage to provide your kind analysis and review to guide whether to apply or leave or any recommendation that you deemed fit will be very helpful for the member of the forum.

      Regards

      1. admin Post author

        Yes . We will move towards the same. Thanks a lot and Wish you Happy and prosperous 2022.

    32. Malleswar Akasam

      VIVO listing Issue. There must be a technical issue intentional or mistake. During price discovery the upper circuit must be 164.(It was 664.2) lower circuit 41 (correct). Now the VIVO will go on for lower circuit for sometime.

      1. admin Post author

        Since , there is very small investor class for SMEs, we donot cover SME IPO analysis. Soon will decide on this.

    33. Khemchand agarwal

      Sir iwant to know about the new ipo nupur
      Can i apply or not iam a long term invester
      I also wNt to become member

    34. Shyam Gupta, Jaipur

      @ Kavita mam,

      Like Main board IPO, even SME IPOs have to be evaluated . I have observed that Chanakya ni pothi provide accurate analysis of SME IPOs in each edition. So you can study the same and apply. For example at present this dental company is fundamentally strong and you can apply in it

    Comments are closed.