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Live IPO GMP | Grey Market Premium

IPO GMP is trending for Signatureglobal India, Chavda Infra, Kundan Edifice, SAMHI Hotels, Cellecor Gadgets, Zaggle Prepaid Ocean, Madhusudan Masala, Yatra Online, Sai Silks (Kalamandir), Holmarc Opto-Mechatronics, Kody Technolab, Manoj Vaibhav Gems, JSW Infrastructure, Hi-Green Carbon, Techknowgreen Solutions, Master Components, Mangalam Alloys, Marco Cables &Conductors, Sunita Tools, Organic Recycling Systems, Saakshi Medtech and, Goyal Salt, Inspire Films, Digikore Studios, Newjaisa Technologies, Arabian Petroleum, Updater Services, E Factor Experiences IPOs.

Grey Market is an unregulated market to trade IPO applications and IPO shares before listing of the stock. An investor may not want to trade in the grey market, but getting an idea of the GMP can be used to estimate the listing gain on the IPO share. GMP or Grey Market Premium adding to issue price gives the estimated listing price of the IPO share.

Here we are reporting the GMP of all upcoming and current SME and Mainboard IPOs along with Subject 2 Sauda price. Estimated Listing Price is also calculated by adding up GMP and IPO cap price.

**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.

Current IPO GMP

IPO Price GMP(₹) Est Listing Sub2 Fire Rating IPO Size Open Close BoA Dt Listing GMP Updated
E Factor Experiences NSE SMEUpcoming75--75 (0.00%)--Rating 1/5₹25.92 Cr27-Sep3-Oct6-Oct11-Oct22-Sep 8:27
Goyal Salt NSE SMEUpcoming381553 (39.47%)34200Rating 4/5₹18.63 Cr26-Sep29-Sep5-Oct10-Oct22-Sep 8:25
Updater Services IPOUpcoming300--300 (0.00%)--Rating 1/5₹640.00 Cr25-Sep27-Sep4-Oct9-Oct22-Sep 8:30
Arabian Petroleum NSE SMEUpcoming70--70 (0.00%)--Rating 1/5₹20.24 Cr25-Sep27-Sep4-Oct9-Oct22-Sep 8:26
Newjaisa Technologies NSE SMEUpcoming47--47 (0.00%)--Rating 1/5₹39.93 Cr25-Sep27-Sep4-Oct9-Oct22-Sep 8:27
Sunita Tools BSE SMEUpcoming14555200 (37.93%)41800Rating 4/5₹22.05 Cr26-Sep28-Sep4-Oct9-Oct22-Sep 8:32

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Saakshi Medtech and NSE SMEUpcoming9730127 (30.93%)27400Rating 4/5₹45.16 Cr25-Sep27-Sep3-Oct6-Oct22-Sep 8:30
Inspire Films NSE SMEUpcoming593089 (50.85%)45600Rating 5/5₹21.23 Cr25-Sep27-Sep3-Oct6-Oct22-Sep 8:25
JSW Infrastructure IPOUpcoming11915134 (12.61%)1400/19600Rating 3/5₹2800.00 Cr25-Sep27-Sep3-Oct6-Oct22-Sep 8:25
Digikore Studios NSE SMEUpcoming171105276 (61.40%)63800Rating 5/5₹30.48 Cr25-Sep27-Sep29-Sep4-Oct22-Sep 8:25
Manoj Vaibhav Gems IPOOpen215--215 (0.00%)--Rating 1/5₹270.20 Cr22-Sep26-Sep3-Oct6-Oct22-Sep 8:28
Mangalam Alloys NSE SMEOpen (Sub:0.93x)8025105 (31.25%)30400Rating 4/5₹54.91 Cr21-Sep25-Sep29-Sep5-Oct22-Sep 8:24
Organic Recycling Systems BSE SMEOpen (Sub:0.51x)200--200 (0.00%)--Rating 1/5₹50.00 Cr21-Sep26-Sep29-Sep5-Oct22-Sep 8:24
Signatureglobal India IPOClosing Today (Sub:1.7x)38533418 (8.57%)1000/14000Rating 2/5₹730.00 Cr20-Sep22-Sep27-Sep4-Oct22-Sep 8:26
Hi-Green Carbon NSE SMEOpen (Sub:8.67x)7560135 (80.00%)73000Rating 5/5₹52.80 Cr21-Sep25-Sep28-Sep4-Oct22-Sep 8:29
Marco Cables &Conductors NSE SMEOpen (Sub:1.34x)36844 (22.22%)18200Rating 4/5₹18.73 Cr21-Sep25-Sep28-Sep4-Oct22-Sep 8:25
Sai Silks (Kalamandir) IPOClosing Today (Sub:0.34x)22210232 (4.50%)500/7000Rating 1/5₹1201.00 Cr20-Sep22-Sep27-Sep4-Oct22-Sep 8:26
Madhusudan Masala NSE SMEClose (Sub:444.27x)7059129 (84.29%)89700Rating 5/5₹23.80 Cr18-Sep21-Sep26-Sep3-Oct22-Sep 8:27
Yatra Online IPOClose (Sub:1.66x)142--142 (0.00%)--Rating 1/5₹775.00 Cr15-Sep20-Sep25-Sep29-Sep22-Sep 8:26
Techknowgreen Solutions BSE SMEClose (Sub:12.98x)86591 (5.81%)6100Rating 2/5₹16.72 Cr18-Sep21-Sep26-Sep29-Sep22-Sep 8:28
Master Components NSE SMEClose (Sub:8.2x)140--140 (0.00%)--Rating 1/5₹15.43 Cr18-Sep21-Sep26-Sep29-Sep22-Sep 8:30
Holmarc Opto-Mechatronics NSE SMEClose (Sub:85.81x)402060 (50.00%)45600Rating 5/5₹11.40 Cr15-Sep20-Sep25-Sep28-Sep22-Sep 8:28
Kody Technolab NSE SMEClose (Sub:51.55x)16035195 (21.88%)21300Rating 4/5₹27.52 Cr15-Sep20-Sep25-Sep28-Sep22-Sep 8:31
Cellecor Gadgets NSE SMEClose (Sub:116.33x)9250142 (54.35%)45600Rating 5/5₹50.77 Cr15-Sep20-Sep25-Sep28-Sep22-Sep 8:30
Kundan Edifice NSE SMEClose (Sub:42.27x)9110101 (10.99%)9100Rating 3/5₹25.22 Cr12-Sep15-Sep21-Sep26-Sep22-Sep 8:28
Chavda Infra NSE SMEClose (Sub:180.06x)6560125 (92.31%)91200Rating 5/5₹43.26 Cr12-Sep14-Sep20-Sep25-Sep22-Sep 8:24
SAMHI Hotels IPOListing Today1268134 (6.35%)700/9800Rating 2/5₹1370.10 Cr14-Sep18-Sep22-Sep22-Sep22-Sep 8:28
Zaggle Prepaid Ocean IPOListing Today16411175 (6.71%)800/11200Rating 2/5₹563.38 Cr14-Sep18-Sep22-Sep22-Sep22-Sep 8:26
Meson Valves India BSE SME[email protected] (90.00%)10293195 (91.18%)84800Rating 5/5₹31.09 Cr8-Sep12-Sep15-Sep21-Sep21-Sep 9:25
Unihealth Consultancy NSE SME[email protected] (2.27%)13216148 (12.12%)12200Rating 3/5₹56.55 Cr8-Sep12-Sep15-Sep21-Sep21-Sep 9:25

What is Grey Market Premium (GMP)?

Explanation of Grey Market Premium in simple points:

  • Grey Market is an unofficial market for the Pre IPO.
  • GMP is premium per share.
  • Kostak is premium per application.
  • Sub2 or Sub2Sauda is premium for the allotted application.
  • As GMP is unofficial, thus there are no regulatory (rules and regulations) involved.
  • All transaction for GMP is done in cash.
  • No written communication for Grey Market, small slips of paper is the contract.
  • There is no official dealer - All buying and selling through word of mounth and trust only.
  • The higher GMP means a higher possibility of IPO getting listed at a bumper price.
  • Fire Rating - a measure of how popular/hot GMP is in terms of expected return from IPO.
  • GMP activity can start before the price band announcement.
Disclaimer from Admins as per SEBI norms: Equity Investment are subject to 100% market risks. Refer your financial consultant advice before Investing. This group is only for Educational and Learning, Knowledge Purposes. Admins have no responsibility for your intended decision & financial losses. Keep calculated & always analyzed your cash position and risk-bearing capacity before following msg of our group.


This is a growing concern from many SME IPO investors that we have applied in many SME IPOs but we have not got a single allotment. Are we doing something wrong? Do we need to use any other process to apply in SME IPO? To understand this let's understand this with a simple example.

Let's take the example of ABC SME IPO (All calculation is just to show number, maybe some minor difference in the actual calculation.)

  • The size of SME IPO is - Say 20 Cr.
  • 50% HNI and 50% Retail quota.
  • Lot Size: approx 1200
  • IPO Price: Assume Rs 100
  • 1 Retail Application amount: Rs 1,20,000

With the above example for a 20 Cr IPO

  • Total Lots: 1666 (Approx)
  • Retail: 833 (1 lot each)
  • HNI: 416 (2 lots applications)

With this one can understand what will be your probability of getting this SME IPO.

In conclusion, the size of SME IPO is very small and lot size is very big (1,20,000) so the numbers of allottees are very less.

Where Mainboard IPO is the complete opposite of SME IPO – Size of IPO – BIG and Lot Size – Small (1K), So the numbers of allottees are much higher.

A second point is the number of times IPO oversubscribe.


GMP is traded over the counter through GMP dealers. The GMP seller only means that there is no buyer in the GMP market. This is similar to the lower circuit where there are sellers but no buyers. This situation can be caused by low IPO subscription, overselling, or negative market sentiment. This means that the listing can be at par or below the GMP price. One should consider this as a negative point.

This scenario may be temporary and may change before the day of listing. Therefore, one should always check the fundamentals and business model of the company before applying.


For every seller, there must be a buyer in the market. The same is true in the GMP market. But at some point, there are only buyers and no sellers. In the stock market, we call this the upper circuit. The same thing can happen in the GMP market if no investor is willing to sell their application. They expect a better return on the day of listing or want to hold it for a long time. One should consider this as a positive point.


User Reviews

222. Nitin Sep 15 2023 02:56:16 AM Reply
I want to apply in s HNI Category but in bank of baroda or Axis bank, they are showing only individual retail Category,

How to fix this problem
Anyone can give guidance
222.1. Sandeep Jain Sep 15 2023 10:36:13 AM
Normally, the bank does not ask about the size of the application in the ASBA process. So if you apply for more than 2L rs, the bank will show you a pop-up message saying that you are applying in the HNI category. This is what I have seen in HDFC and ICICI, should be the same for other banks. So please go ahead and apply with 2L for SHNI...and over 10L for BHNI.
222.2. abc Sep 15 2023 03:27:23 PM
In bank of baroda for more than 2 lac application you to select OTHERS (ENTITIES OTHER THAN QIB, BOADIES,CORP,IND)
222.3. Raju Sep 18 2023 07:37:31 PM
I have same problem in axis bank.
They are showing only individual retail category. I called to customer care but they did not know about it.
Only one solution Open the account in another bank.
222.4. prakash Sep 22 2023 01:35:49 AM
ask your broker for hni s form of that ipo on your name ,pan,dpid and print copy of it and then submit to your bank
221. KAPIL KUMAR Sep 21 2023 06:05:45 PM Reply
Kisi ko sme chavda infra ka ipo alloment hua ha kya plese tall me.
221.1. RHM Sep 21 2023 09:04:10 PM
Yes 1 lot
220. Narayan Sep 21 2023 11:30:16 AM Reply
suppose the gmp is good for any sme ipo and if we allotted the shares. Can we easily sell our stock in full lot.
220.1. Senior Investor Sep 21 2023 02:48:31 PM
Yes, GMP High = Demand is High, Assuming Demand will be high even after listing. So liquidity shouldn''t be a concern.

Off case/RISK: If suddenly market started falling unexpectedly, GMP will come down, demand might come down and u might get stuck in Lower Circuit.
219. arpit goyal Sep 21 2023 11:12:15 AM Reply
From which service provider I can open my Demat account for HUF, as maximum of them not allowed for HUF
218. K T Rao Sep 12 2023 12:31:13 AM Reply
previous fire rating sings was looking good please show old fire rating sings
217. Vikki Sep 11 2023 11:15:51 AM Reply
What is IPO size? It can help for IPO allotment?
217.1. CA Sachin Sep 11 2023 03:01:22 PM
This is just for information perpose. When you are applying IPO, one should be aware about IPO size. No relationship with allotment.
216. sid Sep 02 2023 12:54:38 PM Reply
Add lot size column.
216.1. Admin Sep 02 2023 04:58:56 PM
Thanks very much for your feedback Sid Sir,
Due to space limitations we cannot add more fields, please see the mainboard IPo report.
216.2. Navneet Kumar Sarin Sep 07 2023 08:57:45 AM
Something is wrong, during last 1+ year despite applying for all SME issues till date I have never got any allotment.
216.3. CA Sachin Sep 08 2023 08:54:40 AM
Dear sir, you are not the only one, everyone has the same problem. But the thing is that in any good IPO, the oversubscription is in the triple digits and the chance of getting an allocation is very low.I am no expert, but I have a few suggestions
  • If multiple IPOs are active, choose them wisely.
  • You are more likely to get an application with a minimum number of lots, so try to apply with 1 lot (retail) or 14 lots (SHNI), etc.
  • If you have family accounts, try to apply with as many family accounts as possible, which may increase the likelihood of an allocation.
215. Anil Sep 07 2023 06:01:11 PM Reply
How can I sell my sme ipo application in sauda rate
214. Abhishek Gupta Sep 01 2023 11:19:14 AM Reply
HNI IPOs kisi ke lag rhe h ya nhi
mera to ek bhi nhi aaya mne 10 accounts se HNI apply kiya tha
kuch gadbad to nhi kar rhe h upar wale log
214.1. Kamlesh Sep 01 2023 12:36:42 PM
Sir, I got allotement in HNI in one SME and one mainboard in last month. Yes, its very difficult as subscription is very high. Keep trying and cross chk your demat accont number when you are applying application. All the best.
213. Dinesh d mehta Aug 25 2023 10:52:45 PM Reply
Change of format is making things difficult to decifer. Request to change for earlier version of format. Only being presented for data with no quality assessment etc. I hope all in the forum agree. Very much laborous to simulate complete picture/ dimention of the company coming for ipo.
Rather make it in simpler form, like it was earlier
213.1. Admin Sep 01 2023 10:32:59 AM
Dinesh sir,
Please provide more clarity on what is missing. We have not made any major changes in the GMP report. If you have found any major change, please let us know.