From Peak To Plunge, NSE IPO GMP Slides Over 60% Ahead Of Market Debut
Mumbai: The grey market premium (GMP) of the National Stock Exchange of India’s IPO has fallen sharply ahead of its expected Dalal Street debut, even as the public issue received a strong response from investors. According to online platforms tracking grey market activity, the NSE IPO GMP stood at ₹84 by 2 pm on September 19. This represents a decline of 61.46% from its peak of ₹218 recorded on…
Mumbai: The National Stock Exchange of India’s IPO grey market premium (GMP) has plummeted over 60% since its peak, despite receiving strong investor interest. As of September 19, the GMP stood at ₹84, a 61.46% drop from its September 11 high of ₹218. Based on the upper price band of ₹1,785, this suggests an anticipated listing price of roughly ₹1,869.
However, the GMP is an unofficial metric and can fluctuate dramatically ahead of the market debut. Though the ₹22,569-crore IPO was fully subscribed on its second bidding day, the premium's sharp decline highlights the uncertainty surrounding the upcoming listing. The NSE IPO, consisting solely of an offer for sale of existing shares, will trade on September 24, with the price band set between ₹1,700 and ₹1,785.
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