IPO GMP Today — Live Grey Market Premium
Latest grey market premium for every active mainboard and SME IPO in India, with price bands, lot sizes and the estimated listing gain each GMP implies.
Data as of: —
IPO GMP today: what the grey market is signalling
Checking IPO GMP today is the quickest way to read pre-listing sentiment for current Indian IPOs. As of our latest update (grey-market quotes of 11 June 2026, 19:00 IST), no mainboard IPO is open for subscription — the market sits in a gap between Hexagon Nutrition, which closed on 9 June after a 53.68x overall subscription and lists today (12 June) with a last-quoted GMP of Rs 4 on its Rs 45 upper band, and Turtlemint Fintech Solutions, expected to open 19–23 June with its price band still to be announced and no active GMP yet.
The action is in SME issues. Horizon Reclaim (India), which opens today (12–16 June, BSE SME), carries the highest GMP on our board at Rs 53 — about 51.46% over its Rs 103 upper band. Susan Electricals India (11–15 June, BSE SME) quotes a GMP of Rs 41 (32.28% of Rs 127), and Utkal Speciality Industries (NSE SME), which closes today, quotes Rs 14 (21.21% of Rs 66). By contrast, GenXAI Analytics, closed and awaiting listing, has seen its GMP fade to just Rs 3 (2.59%) — a reminder that grey-market enthusiasm is uneven even in a busy SME window.
Use the two tables below — mainboard first, then SME — and remember the standing caveat: GMP is unofficial, unregulated and volatile. Recent listings cut both ways: CMR Green Technologies listed 43.44% up on BSE on 10 June, beating its ~35% pre-listing GMP, while plenty of issues elsewhere have listed below what their GMP implied. How to read these numbers is covered in the explainer further down and in our What is GMP? guide.
Mainboard IPO GMP today
IPO Calendar →No mainboard IPO is accepting bids right now. Hexagon Nutrition lists today (12 June); Turtlemint (19–23 June) and Advit Jewels (23–25 June) are next, and their GMPs have not started quoting yet.
Data as of: —. GMP is unofficial grey-market data; "Est. Gain" is GMP as a percentage of the upper price band, not a prediction of the listing price.
SME IPO GMP today
SME vs Mainboard guide →Data as of: —. SME counters trade thinly in the grey market — their GMP quotes are even less reliable than mainboard GMP. Minimum SME application sizes typically run Rs 2.4–2.7 lakh per lot at the upper band.
How GMP is calculated
Dealers quote the premium
GMP is not derived from a formula — it is the price grey-market dealers (an informal OTC network, historically concentrated in hubs like Ahmedabad, Mumbai and Rajkot) quote over the issue price for shares of an IPO that has not yet listed. Trackers poll these dealers and publish a consensus figure.
Estimated listing price
Estimated listing price = upper price band + GMP. For Susan Electricals India: Rs 127 (upper band) + Rs 41 (GMP) ≈ Rs 168 implied listing price.
Estimated listing gain %
Estimated gain % = GMP ÷ upper band × 100. For Susan Electricals: 41 ÷ 127 × 100 ≈ 32.28%. On its 2,000-share lot (Rs 2,54,000 at the upper band), that implies a notional, unofficial gain of about Rs 82,000 per lot — if the listing matches the grey market, which it often does not.
Worked example from today's board
| Input | Susan Electricals India (BSE SME) |
|---|---|
| Upper price band | Rs 127 |
| GMP (11 Jun 2026, IPO Watch) | Rs 41 |
| Estimated listing price | Rs 127 + Rs 41 = Rs 168 |
| Estimated listing gain | 41 ÷ 127 × 100 = 32.28% |
| Lot size / min. investment | 2,000 shares ≈ Rs 2,54,000 at upper band |
| Notional gain per lot (unofficial) | 2,000 × Rs 41 = Rs 82,000 — indicative only |
Data as of: —
What moves GMP up or down
- Subscription numbers — heavy QIB and HNI bidding usually lifts GMP. Hexagon Nutrition's GMP ranged from Rs 3.5 to Rs 13 during its issue as subscription data rolled in, before settling at Rs 4 ahead of today's listing.
- Overall market mood — GMP across the board softens when indices fall. Nifty 50 closed near 23,162 and Sensex near 73,833 on 11 June, down for a second straight session on IT weakness and West Asia tensions.
- Valuation vs listed peers — a richly priced issue leaves less implied upside, capping the premium dealers will pay.
- Flipping demand — interest from investors who plan to sell on listing day inflates GMP for "hot" issues; thin SME floats exaggerate this in both directions.
Why GMP is not the listing price
Grey-market volumes are tiny relative to the actual issue, quotes are unaudited, and small SME counters can be talked up by interested parties. The recent record shows both kinds of misses: CMR Green Technologies listed at Rs 275.40 on BSE (+43.44%) against a GMP-implied ~35%, and Vahh Chemicals listed at +16.67% against a GMP-implied 8.33% — both better than GMP suggested — while other issues routinely list below their grey-market estimates. Treat every number on this page as sentiment, not a forecast. For the full background, read What is GMP?
IPO GMP today — Frequently Asked Questions
What is IPO GMP today and how often does it change?
IPO GMP (grey market premium) is the extra amount, over the issue price, that unofficial grey-market buyers are willing to pay for IPO shares before listing. It changes throughout the day — sometimes several times — as subscription figures, market mood and dealer demand shift. The tables on this page reflect our latest data update (see the "Data as of" stamp); GMP shown for any IPO may already have moved since then.
How is GMP calculated for an IPO?
GMP itself is not calculated by a formula — it is the premium quoted by grey-market dealers. From it, two derived numbers are computed: estimated listing price = upper price band + GMP, and estimated listing gain % = GMP ÷ upper price band × 100. Example: Susan Electricals India has an upper band of Rs 127 and a GMP of Rs 41 (11 Jun 2026), so the implied listing price is about Rs 168 and the implied gain is 32.28%. These are unofficial estimates, not predictions.
Which IPO has the highest GMP today?
As of our latest update (GMP quotes of 11 Jun 2026, 19:00 IST), Horizon Reclaim (India) has the highest GMP at Rs 53 — about 51.46% over its Rs 103 upper band — followed by Susan Electricals India at Rs 41 (32.28%) and Utkal Speciality Industries at Rs 14 (21.21%). All three are SME issues. No mainboard IPO currently has an active GMP — Turtlemint's grey market has not started quoting yet. GMP is volatile and these rankings can change within hours.
Does a high GMP mean an IPO will definitely list at a profit?
No. GMP is an unofficial sentiment signal, not a commitment by anyone to a listing price. It can undershoot — CMR Green Technologies carried a GMP of about Rs 67 (roughly 35%) and listed 43.44% up on BSE — and it can overshoot, with issues listing flat or below the price GMP implied. Thinly traded SME counters are especially prone to exaggerated GMP quotes. Always look at fundamentals, valuations and subscription data, not GMP alone.
What are kostak rates and subject-to-sauda deals?
Both are grey-market side deals on IPO applications rather than shares. A kostak rate is a fixed price at which you sell your entire IPO application before allotment — you keep that amount whether or not you are allotted shares. A subject-to-sauda deal pays a (usually higher) agreed amount only if your application actually receives allotment; if you are not allotted, the deal is void. Like GMP, both are informal, unregulated and enforceable only by trust between dealers.
Is the IPO grey market legal and regulated in India?
The grey market is an informal, over-the-counter market that operates outside SEBI's regulatory framework and outside the stock exchanges. Trades are verbal or dealer-mediated, settled in cash after listing, and offer no investor protection, no contract notes and no recourse if a counterparty defaults. We publish GMP purely as information about pre-listing sentiment; we do not facilitate, recommend or participate in grey-market dealing.