NSE IPO GMP Slides to Rs 43 Ahead of Listing, Grey Market Signals Modest Gains on Market Debut

Mumbai: The National Stock Exchange (NSE) IPO's grey market premium has significantly decreased ahead of its planned listing on September 24. As of Wednesday, the unofficial market data indicated the NSE IPO GMP at roughly Rs 43 per share. With the upper issue price set at Rs 1,785, this declining premium implies a likely listing price of about Rs 1,828.

This would result in a modest gain of around 2.41 percent for successful applicants. The IPO garnered strong investor demand, with subscription exceeding five times the available shares. Despite this robust demand, the grey market sentiment has weakened considerably from earlier in the subscription period, where the premium peaked at Rs 145, projecting listing gains of over 8 percent.