IPO GMP Live

IPO GMP today refers to the current grey market premium — the price at which IPO shares are being bought and sold informally before the company lists on NSE or BSE. If an IPO has an issue price of ₹200 and today's GMP is ₹80, the expected listing price is around ₹280. This figure changes daily based on demand, subscription numbers and overall market sentiment.

Our IPO GMP tracker is updated daily, typically by 10 AM IST. During active subscription periods, we also update when significant intraday movements occur in grey market activity.

You can use GMP as one input — not as your primary decision driver. The grey market operates outside SEBI regulation, so there is no audit trail or price discovery mechanism. Treat it like a market survey — useful for sentiment, not for certainty.

A sudden GMP drop usually means one of three things: weak subscription numbers came in (especially from HNI or QIB), the broader market saw a correction, or profit-booking by grey market dealers. Sometimes it is as simple as a negative news article about the company going viral the evening before.

That depends on your strategy. If you applied purely for listing gains, a high GMP near listing day confirms there is a buyer on the other side at a premium. Most active IPO investors sell in the first 30–60 minutes of listing. If you are investing for the long term, listing price volatility matters less than the business quality.

Grey market trading is in a legal grey zone (hence the name). It is not officially regulated by SEBI, but it is also not explicitly prohibited. Disputes are settled informally between dealers. SEBI has warned investors multiple times about the risks of grey market participation, particularly for smaller operators.

Kostak is the fixed premium paid to buy an IPO application before allotment is known. If the Kostak for an IPO is ₹2,000, you can sell your application to a grey market dealer for ₹2,000 regardless of whether you get the allotment. This is useful for applicants who want to lock in a certain profit and avoid the risk of a bad listing.

Subject to Sauda (SS) is a conditional grey market deal. You agree to sell your allotted shares at a fixed price — but only if you actually receive the allotment. If you are not allotted shares, the deal is cancelled automatically. SS rates are always higher than Kostak since there is allotment risk for the buyer.