IPO GMP Today – Live Grey Market Premium (Updated Daily)
Track live GMP for all upcoming, open, and recently closed IPOs in India — Mainboard & SME both covered.
IPO GMP Today 2026 – Live Grey Market Premium of All IPOs | ForgeUp
IPO GMP Today — Live Grey Market Premium (Updated Daily)
Track live GMP for all upcoming, open, and recently closed IPOs in India — Mainboard & SME both covered. Includes Kostak rate explanation, Subject to Sauda, estimated listing prices and subscription data.
Live UpdatesMainboard + SMEDaily GMP HistoryEst. Listing PriceKostak & Sub2Sauda
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Positive GMP
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Mainboard IPOs
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SME IPOs
✓ GMP VerifiedLoading…🔵 Grey market premiumInformational Only
Live IPO GMP Table
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Pulling latest GMP data from all IPO pages…
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What is IPO GMP (Grey Market Premium) Today?
IPO GMP stands for Grey Market Premium — the price at which IPO shares are traded in the unofficial grey market before they officially list on NSE or BSE. It is one of the most searched indicators among retail investors in India to estimate potential listing gains or losses.
When a company announces its IPO, grey market dealers begin quoting a premium (or discount) over the issue price based on subscription interest, company fundamentals, anchor investor response, and overall market conditions. This GMP changes daily until listing day.
Kostak Rate and Subject to Sauda — Explained
📋 Kostak Rate
The price at which an entire IPO application (not individual shares) is bought or sold in the grey market — regardless of allotment status. The seller gets paid even if they don’t receive allotment. Example: Kostak of ₹800 means you earn ₹800 per application sold, allotment or not.
📌 Subject to Sauda (Sub2Sauda)
A grey market deal where payment is made only if the seller receives IPO allotment. If no allotment — deal is cancelled. Sub2Sauda rates are always higher than Kostak rates because the buyer takes on allotment risk. Example: Sub2Sauda of ₹2,000 means you earn ₹2,000 only if allotted.
How to Read the GMP Table
GMP (₹): Grey market premium per share — positive means above issue price, negative means below. Est. Listing Price = Issue Price + GMP. GMP % = (GMP ÷ Issue Price) × 100. The update timestamp on each row shows exactly when that IPO’s GMP was last saved in our system — not when you loaded this page.
How ForgeUp Tracks IPO GMP
ForgeUp collects GMP data daily from grey market participants and cross-verifies across multiple informal sources before publishing. Each IPO has a dedicated GMP page with full daily history, sparkline chart, and subscription data. This hub automatically pulls the latest GMP from every individual page — each row’s update time reflects the actual time our team last updated that IPO’s data.
Is IPO GMP Reliable for Predicting Listing Price?
GMP is a sentiment indicator — not a guarantee. Heavily subscribed IPOs with strong fundamentals tend to list near or above GMP estimates. However, last-minute market corrections, broader index falls, or weak anchor investor response can cause actual listing prices to diverge significantly from GMP. Always check:
Subscription data (QIB, NII, Retail) alongside GMP
Company financials and profitability track record
Valuation vs peers (P/E ratio, EPS)
Anchor investor quality
GMP vs Kostak vs Subject to Sauda — Key Differences
GMP is per share, fluctuates daily, and applies to shares. Kostak is per application, fixed once agreed, paid regardless of allotment. Subject to Sauda is per application, paid only on allotment, and always higher than Kostak. ForgeUp tracks GMP — Kostak and Sub2Sauda are informal and vary by dealer.
Frequently Asked Questions — IPO GMP
What is IPO GMP today and how is it calculated? ▾
IPO GMP (Grey Market Premium) today is the difference between the grey market trading price and the official issue price of an IPO. It is calculated as: GMP = Grey Market Price − Issue Price. Estimated Listing Price = Issue Price + GMP. ForgeUp updates GMP daily for all active Mainboard and SME IPOs in India.
What is Kostak rate in IPO and how does it work? ▾
Kostak rate is the price paid for an entire IPO application in the grey market, irrespective of allotment. If you applied for 1 lot and sell at Kostak ₹1,000, you receive ₹1,000 whether or not you get allotment. It is a way to lock in guaranteed profit from your IPO application before listing.
What is Subject to Sauda (Sub2Sauda) in IPO? ▾
Subject to Sauda is a grey market deal where the agreed amount is paid only if the seller receives allotment. If no allotment is received, the deal is void. Sub2Sauda rates are higher than Kostak because payment depends on allotment. It offers higher returns but no guaranteed income if not allotted.
What does negative GMP mean for an IPO? ▾
Negative GMP means IPO shares are trading below issue price in the grey market — indicating weak demand and possible listing loss. For example, if issue price is ₹200 and GMP is -₹30, estimated listing is ₹170. It is a bearish signal, though actual listing can still differ based on market conditions on listing day.
What is the difference between Mainboard and SME IPO GMP? ▾
Mainboard IPOs list on the main NSE/BSE boards with higher issue sizes and broader investor access. SME IPOs list on NSE Emerge or BSE SME platforms for smaller companies. SME GMP can be more volatile due to lower liquidity and fewer grey market participants. Both are tracked on ForgeUp with daily updates.
How do I know if the GMP data on ForgeUp is fresh? ▾
Each IPO row shows the exact date and time (in IST) when our team last updated that IPO’s GMP in our system — for example, “05 Mar, 09:39 AM IST”. This is pulled directly from the admin save timestamp, not from when you loaded this page. The page-level “GMP Verified” banner also shows today’s date. ForgeUp updates data at least once daily.
⚠ Important Disclaimer: Grey Market Premium (GMP) data on ForgeUp.in is sourced from grey market dealers and informal channels. It is published for informational purposes only and does not constitute investment advice. GMP is not regulated by SEBI, NSE, or BSE. Actual listing prices may differ significantly from GMP estimates. ForgeUp.in does not facilitate or promote grey market transactions. Always consult a SEBI-registered investment advisor before investing.
