DRHP LensThe grey market premium (GMP) is what informal buyers are paying over the issue price before an IPO lists. It is a sentiment gauge, not a valuation. Use it alongside the offer document: the DRHP Lens analyser gives the business score, a ten-method fair value and a clear closing note for any DRHP or RHP.
| IPO | Price | GMP | GMP % | Implied listing | Dates |
|---|---|---|---|---|---|
| Bombay Coated and Special Steels | ₹82 | +₹7 | +8.5% | ₹89 | 29-2 Nov |
| M.K.Sons Fine Jewels | ₹162 | +₹6 | +3.7% | ₹168 | 28-30 Oct |
| SFC Environmental Technologies | ₹330 | +₹20 | +6.1% | ₹350 | 27-29 Oct |
| BLS Polymers | ₹150 | +₹70 | +46.7% | ₹220 | 27-29 Oct |
| EAAA India Alternatives | ₹1,665 | +₹52 | +3.1% | ₹1,717 | 26-28 Oct |
| Vedant Poly Fabs | ₹94 | ₹0 | 0% | ₹94 | 2-4 Nov |
| Johnsoncab Electricals | ₹200 | +₹10 | +5% | ₹210 | 30-3 Nov |
| HGS (India) | ₹120 | +₹30 | +25% | ₹150 | 30-3 Nov |
| Maxwell Engineering | ₹158 | +₹70 | +44.3% | ₹228 | 30-3 Nov |
| Vectras Enprocon | ₹105 | ₹0 | 0% | ₹105 | 30-3 Nov |
| Antala Industries | ₹67 | ₹0 | 0% | ₹67 | 29-2 Nov |
| Ajwa Projects | ₹203 | +₹5 | +2.5% | ₹208 | 28-30 Oct |
| Carver Roboweld | ₹80 | +₹5 | +6.3% | ₹85 | 28-30 Oct |
| Wiscon Industries | ₹204 | ₹0 | 0% | ₹204 | 27-29 Oct |
| Core4 Engineers | ₹93 | ₹0 | 0% | ₹93 | 23-27 Oct |
How to read the GMP table
- Implied listing price = issue price + GMP. Implied gain = GMP ÷ issue price.
- A rising GMP with strong QIB subscription is more meaningful than a high GMP alone. See how QIBs evaluate an IPO.
- A high GMP on an expensive IPO is a short-term trade, not a long-term case. Check the price first: how to value an IPO.
- SME IPO GMPs are thinner and swing more.
Also read: IPO GMP explained · Should I apply for this IPO? · IPO subscription status explained
Is the price fair, not just popular?
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Analyse a documentFrequently asked questions
What is IPO GMP?
Grey market premium is the unofficial premium at which an IPO's shares are traded informally before listing. A GMP of ₹40 on a ₹200 issue suggests buyers expect a listing near ₹240.
Is GMP reliable?
No. It is unofficial, unregulated and not recognised by SEBI. It can swing sharply in a day and has been badly wrong for many IPOs. Treat it as market mood, not as information about the business.
How is the implied listing price calculated?
Implied listing price = issue price + GMP. Implied gain = GMP ÷ issue price.
GMP is unofficial and unregulated; SEBI does not recognise it. Figures are collected from public sources for information and may be out of date or wrong. Nothing on this page is investment advice or a recommendation to subscribe to any issue.