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: 10 Oct 2026, 01:07 IST
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 10 Oct 2026, no issue on our board is accepting bids — 9 are scheduled next.
The strongest grey-market premium on our board is HD Fire Protect at Rs 75 (27.67% of its upper band). GMP is unofficial, unregulated and can move within hours, so treat it as sentiment, not a forecast.
Use the two tables below — mainboard first, then SME. How to read these numbers is covered in the explainer further down and in our What is GMP? guide.
Looking for one IPO? Every issue has its own page with GMP, dates, allotment and listing details — browse all IPO pages.
Mainboard IPO GMP today
IPO Calendar →No mainboard IPO is accepting bids right now. Next up: Paras Healthcare, Zepto, Jio Platform and 4 more.
Data as of: 10 Oct 2026, 01:07 IST. 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: 10 Oct 2026, 01:07 IST. 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; SME applications are a minimum of two lots), 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
Fixed illustration using one past issue, so the arithmetic stays checkable. These are not today’s numbers — for those, read the tables above.
| Input | Susan Electricals India (BSE SME) |
|---|---|
| Upper price band | Rs 127 |
| GMP (as tracked on 11 Jun 2026) | 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 per lot at the upper band (SME minimum application is two lots since July 2025) |
| Notional gain per lot (unofficial) | 2,000 × Rs 41 = Rs 82,000 — indicative only |
Data as of: 10 Oct 2026, 01:07 IST
What moves GMP up or down
- Subscription numbers — heavy QIB and HNI bidding usually lifts GMP. It is common for an issue's premium to double or halve between the first bidding day and listing day as institutional and retail demand becomes visible.
- Overall market mood — GMP across the board softens when indices fall. A weak Nifty or Sensex session tends to pull premiums down across the board, and a strong one lifts them, regardless of the issue itself.
- 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?
The highest-GMP issue changes daily, so we do not freeze a name here — the live answer is in the two tables on this page. Read the GMP (Rs) column for the absolute premium and Est. Gain for that premium as a percentage of the upper price band, which is the fairer comparison between issues with very different price bands. SME issues often show larger percentage premiums than mainboard issues because grey-market volumes in them are thinner. GMP is unofficial, unregulated and can move 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.