| IPO Company | IPO Date | Price Band | Lot Size | GMP |
|---|---|---|---|---|
| Annu Projects IPO | 25–28 AUG | ₹94–₹99 | 151 | ₹0 |
| Lumino Industries IPO | 27–31 AUG | ₹78–₹82 | 182 | ₹48 |
| Priority Jewels IPO | 28 AUG–01 SEP | ₹190–₹200 | 75 | ₹32 |
| ESDS Software Solution IPO | 28 AUG–01 SEP | ₹408–₹429 | 34 | ₹262 |
| Purple Style Labs IPO | 31 AUG–02 SEP | ₹546–₹575 | 26 | ₹4 |
| Roys of Belief IPO | 01–03 SEP | ₹227–₹239 | 62 | ₹48 |
| Deepa Jewellers IPO | 01–03 SEP | ₹168–₹177 | 84 | ₹42 |
| Veegaland Developers IPO | 10–15 SEP | ₹130–₹140 | 107 | ₹14 |
Live
Track the latest IPO Grey Market Premium (GMP), IPO dates, price bands, lot sizes and estimated listing gains in one place.
📅 As On Sep 2026
📊
Active IPOs (GMP > 0)
—
📈
Highest GMP
—
🎯
Best Est. Gain
—
📅 Upcoming IPO 2026
✅ Allotment Status
📲 Join Telegram Free
📢 India’s No. 1 Free DEMAT Account — Open in minutes. Start applying for IPOs today.
📊Latest IPO GMP — Mainline
Mainline IPOs · GMP updated regularly from grey market sources
⚠️ GMP data source not found
The IPO data table could not be loaded. Please check the Classic Editor source table (id=”ia-gmp-data-source”) exists on this page.
| IPO Company | IPO Date | Price Band | Lot Size | GMP (₹) | Est. Listing Gain |
|---|
📥 2025 IPO Performance Sheet
✅ IPO Allotment Status →
📱
Join @InvestorAcademy23 on Telegram
50,000+ investors · Live GMP updates · IPO alerts · Free performance sheets
📲 Join Free
🔗Important Links & Resources
📥
2025 IPO Performance Sheet
Download free via Telegram
→
✅
IPO Allotment Status
Check directly — BSE / KFintech / Linkintime
→
📅
Upcoming IPO Calendar 2026
Full list of upcoming IPOs
→
📚Understanding the IPO Grey Market
Educational reference — not investment advice
📊 What is Grey Market Premium (GMP)?
GMP is the premium at which IPO shares are traded before official listing — in an unofficial, over-the-counter market. It reflects current market appetite for the IPO.
Est. Listing Price = Issue Price (Cap) + GMP
💰 What is Kostak Rate?
Kostak Rate is the fixed premium an investor receives for selling their entire IPO application in the grey market — before allotment. The seller earns this regardless of whether they receive allotment.
Kostak = Price paid for selling the IPO application
⚠️ Limitations of GMP
- Unofficial — not monitored by SEBI or any exchange
- Subject to sudden changes; can be manipulated
- Not a guarantee of actual listing price
- Varies across grey market operators and regions
- Can drop sharply between subscription and listing
👥 Who Participates in Grey Market?
- Retail investors — Use GMP as a listing indicator
- HNI / IPO financiers — Gauge IPO appetite
- Dealers / Operators — Facilitate grey market trades
- Analysts — Track market sentiment pre-listing
📖 GMP Calculation Example
If Issue Price = ₹250 and GMP = +₹50 → Estimated Listing = ₹300 (20% gain estimate). If GMP = –₹25 → Estimated Listing = ₹225 (–10%). These are estimates only — actual listing price may differ significantly.
🔄 How Grey Market Trading Works
Option 1 — Share Trading: A grey market buyer believes the share will list higher than issue price. The buyer contacts a dealer, and a deal is struck at the current GMP. On allotment day, the seller either transfers shares to the buyer’s Demat or settles cash equivalent. If the seller gets no allotment, the deal is typically cancelled.
Option 2 — Application (Kostak) Trading: The investor sells the entire IPO application at a fixed price (Kostak). The buyer takes on the allotment risk. Seller gets the Kostak regardless of allotment outcome. This is entirely informal — based on mutual trust.
❓Frequently Asked Questions
Who decides the IPO grey market premium price?
GMP is determined purely by demand and supply — just like a listed stock. If more investors want to buy IPO shares/applications in the grey market than sell, the GMP rises. There is no regulatory body controlling this price. It can move sharply in either direction at any time.
Is the IPO grey market regulated by SEBI?
No. The grey market is entirely outside SEBI’s jurisdiction and operates without oversight from any stock exchange or regulator. All grey market transactions are informal forward agreements and carry full counterparty risk. There is no legal recourse in case of default.
Why does GMP fluctuate every day?
Like listed stock prices, GMP changes based on sentiment, subscription trends, broader market conditions, and IPO-specific news. As the subscription opening date nears, GMP typically becomes more reliable. Between subscription close and listing, GMP may shift significantly based on grey market activity.
What is “Subject to Sauda” in grey market?
Subject to Sauda is a grey market trade where an investor sells their IPO application. Unlike Kostak (fixed premium regardless of outcome), in Subject to Sauda the final settlement depends on actual allotment and listing performance. If the IPO lists at a higher gain than the agreed price, the seller must compensate the buyer for the difference.
Should I apply for an IPO based on GMP?
GMP is one indicator — not the only one. Consider it alongside:
- Company fundamentals and financial health
- Business model and competitive position
- IPO valuation vs peer companies
- Promoter background and track record
- Use of IPO proceeds
GMP can drop sharply before listing. Never invest solely based on GMP data.
How reliable is GMP as a listing price predictor?
GMP has historically been a reasonable but imperfect predictor of listing direction — not listing price. High GMP IPOs do tend to list positively, but the actual listing price can be significantly different from the GMP-based estimate. GMP can drop sharply in the final days before listing due to grey market operators booking profits.
⚠️ Important Disclaimer
- GMP data shown is valid as of the date stated. Values change regularly — always verify before acting.
- Investor Academy does not buy, sell, deal in, or facilitate any grey market transactions.
- Do not subscribe to an IPO solely based on GMP or Kostak rates.
- GMP is not a guaranteed indicator of listing price. Actual results may differ materially.
- Grey market is unofficial, unregulated, and subject to manipulation and counterparty risk.
- Always evaluate company fundamentals, financial statements, and DRHP before investing.
- GMP rates may vary across different operators and geographies.
- Past GMP accuracy does not guarantee future performance.
🔍More from Investor Academy
Best Apps to Invest in Mutual Funds→
Best Share Trading Apps 2026→
Best Discount Broker in India→
Best Sites for Stock Market Research→
How to Invest in Share Market→
Best Books for Stock Market India→