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Our GMP track record
Every IPO we forecast, our last estimate before listing day, and how far off it was. Estimates are frozen before listing and never edited.
78
IPOs forecast and scored
8.5 pts
Average miss (listing gain)
+1.2 pts
Average bias (+ = listed above our estimate)
56%
Within ±5 points
69%
Within ±10 points
| IPO | Listed | Issue price | Our GMP | Our implied gain | Actual gain | Error (pts) |
|---|---|---|---|---|---|---|
| Maxwell Engineering Ltd. | 6 Nov | ₹158 | ₹107 | +67.7% | +90.0% | +22.3 |
| Johnsoncab Electricals | 6 Nov | ₹200 | ₹8 | +4.0% | +19.2% | +15.2 |
| HGS (India) | 6 Nov | ₹120 | ₹32 | +26.9% | +33.3% | +6.4 |
| Vectras Enprocon | 6 Nov | ₹105 | ₹0 | 0% | +0.9% | +0.9 |
| Bombay Coated and Special Steels | 5 Nov | ₹82 | ₹9.3 | +11.4% | +11.0% | -0.4 |
| M.K.Sons Fine Jewels | 4 Nov | ₹162 | ₹10 | +6.2% | +5.6% | -0.6 |
| Carver Roboweld | 4 Nov | ₹80 | ₹3.7 | +4.6% | +12.5% | +7.9 |
| Ajwa Projects | 4 Nov | ₹203 | ₹1 | +0.5% | 0% | -0.5 |
| SFC Environmental Technologies | 3 Nov | ₹330 | ₹17 | +5.2% | +7.6% | +2.4 |
| Wiscon Industries | 3 Nov | ₹204 | ₹0 | 0% | 0% | +0.0 |
| BLS Polymers | 3 Nov | ₹150 | ₹68 | +45.5% | +65.3% | +19.8 |
| EAAA India Alternatives | 2 Nov | ₹1,665 | ₹53 | +3.2% | +0.6% | -2.6 |
| Core4 Engineers | 30 Oct | ₹93 | ₹0 | 0% | -20.0% | -20.0 |
| Paras Healthcare | 28 Oct | ₹693 | ₹14 | +2.0% | +3.9% | +1.9 |
| Jio Platforms | 28 Oct | ₹1,119 | ₹248 | +22.1% | +21.4% | -0.8 |
| Sahajanand Medical Technologies | 23 Oct | ₹344 | ₹17 | +5.0% | +7.9% | +2.9 |
| Bonfiglioli Transmissions | 23 Oct | ₹586 | ₹68 | +11.7% | 0% | -11.7 |
| Zetwerk Manufacturing | 23 Oct | ₹151 | ₹1.1 | +0.7% | +5.5% | +4.7 |
| Tonbo Imaging India | 23 Oct | ₹700 | ₹452 | +64.5% | +65.7% | +1.2 |
| Shellz India | 23 Oct | ₹179 | ₹7.3 | +4.1% | 0% | -4.1 |
| Ravita Engineering Services | 22 Oct | ₹112 | ₹1 | +0.9% | 0% | -0.9 |
| Fusion CX | 22 Oct | ₹289 | ₹14 | +4.9% | +5.5% | +0.6 |
| Vaibhav Vyapaar Ltd | 21 Oct | ₹54 | ₹3.8 | +7.1% | -2.0% | -9.1 |
| HD Fire Protect | 21 Oct | ₹271 | ₹69 | +25.5% | +23.6% | -1.8 |
| R.K.Fashion Accessories Ltd. | 12 Oct | ₹82 | ₹1.5 | +1.8% | -2.4% | -4.3 |
| Acme India Industries Ltd. | 9 Oct | ₹196 | ₹42 | +21.4% | +12.8% | -8.7 |
| Paramount Syntex Ltd. | 9 Oct | ₹127 | ₹0 | 0% | -9.4% | -9.4 |
| TNA Solutions Ltd. | 9 Oct | ₹70 | ₹2 | +2.9% | -20.0% | -22.9 |
| Sollfege Smart Electronics Ltd. | 8 Oct | ₹55 | ₹10 | +18.2% | +89.8% | +71.6 |
| Nityas Gems & Jewellery | 8 Oct | ₹75 | ₹1 | +1.3% | +6.7% | +5.3 |
| EverestIMS Technologies Ltd | 8 Oct | ₹85 | ₹54 | +63.7% | +48.2% | -15.5 |
| Shree TNB Polymers Ltd | 8 Oct | ₹53 | ₹4 | +7.5% | +13.2% | +5.7 |
| SJP Ultrasonic | 8 Oct | ₹67 | ₹0 | 0% | +10.8% | +10.8 |
| Omara Ventures Ltd. | 8 Oct | ₹311 | ₹0 | 0% | +2.6% | +2.6 |
| Vishal Nirmiti | 8 Oct | ₹220 | ₹2 | +0.9% | -2.3% | -3.2 |
| Eventions Ltd. | 8 Oct | ₹118 | ₹0 | 0% | -5.9% | -5.9 |
| Dove Soft Ltd | 8 Oct | ₹111 | ₹0 | 0% | -0.6% | -0.6 |
| Vans Electroengineerings Ltd | 7 Oct | ₹118 | ₹103 | +87.3% | +90.0% | +2.7 |
| Black Opal Consultants Ltd. | 7 Oct | ₹197 | ₹26 | +13.2% | +1.5% | -11.7 |
| Papadmalji Agro Foods Ltd. | 7 Oct | ₹72 | ₹0 | 0% | +0.4% | +0.4 |
| Green Asia Impex | 7 Oct | ₹89 | ₹0 | 0% | 0% | +0.0 |
| Acme Universal Safezone 9 Ltd | 6 Oct | ₹71 | ₹15 | +21.1% | +42.2% | +21.1 |
| Shah Investor's Home Ltd. | 6 Oct | ₹167 | ₹16 | +9.9% | +2.4% | -7.5 |
| Pind Hospitality Ltd. | 6 Oct | ₹99 | ₹1 | +1.0% | -20.0% | -21.0 |
| Shivchem Agro Ltd | 6 Oct | ₹62 | ₹1.7 | +2.7% | 0% | -2.7 |
| SRIT India Ltd. | 6 Oct | ₹130 | ₹58 | +45.0% | +13.8% | -31.1 |
| German Green Steel & Power | 5 Oct | ₹139 | ₹10 | +7.4% | +2.2% | -5.2 |
| Orient Cables (India) Ltd. | 5 Oct | ₹272 | ₹120 | +44.3% | +65.4% | +21.1 |
| Runwal Enterprises Ltd. | 5 Oct | ₹305 | -₹5 | -1.6% | 0% | +1.6 |
| Sai Urja Indo | 5 Oct | ₹113 | ₹25 | +21.8% | +18.4% | -3.4 |
| Himalayan Solar | 5 Oct | ₹103 | ₹0 | 0% | -17.5% | -17.5 |
| Dudani Retail | 5 Oct | ₹29 | ₹0.5 | +1.8% | -13.8% | -15.6 |
| Acevector (Snapdeal) | 5 Oct | ₹32 | ₹0.9 | +2.9% | -11.5% | -14.4 |
| Bench Mark Infotech Services | 5 Oct | ₹110 | ₹25 | +22.7% | 0% | -22.7 |
| A-One Steels India | 1 Oct | ₹405 | ₹45 | +11.1% | +12.3% | +1.3 |
| Moneyview | 1 Oct | ₹34 | ₹14 | +42.4% | +61.8% | +19.3 |
| Roopa Screen | 1 Oct | ₹64 | ₹41 | +63.5% | +90.0% | +26.4 |
| Peshwa Wheat | 1 Oct | ₹101 | ₹0 | 0% | -0.9% | -0.9 |
| Pooja Logistics | 30 Sep | ₹115 | ₹0 | 0% | +2.6% | +2.6 |
| Swastika Infra | 30 Sep | ₹185 | ₹6.7 | +3.6% | +8.1% | +4.5 |
| ArMee Infotech | 30 Sep | ₹375 | ₹6 | +1.6% | 0% | -1.6 |
| Elevate Campuses | 30 Sep | ₹362 | ₹6 | +1.7% | -1.9% | -3.6 |
| Adroit Industries (India) | 30 Sep | ₹134 | ₹55 | +41.0% | +75.4% | +34.3 |
| Liqvd Digital India | 30 Sep | ₹54 | ₹0 | 0% | -0.5% | -0.5 |
| S.K. Offset | 30 Sep | ₹125 | ₹0 | 0% | +0.8% | +0.8 |
| Unitec Fibres | 30 Sep | ₹88 | ₹0 | 0% | +2.3% | +2.3 |
| Coreintegra Consulting Services | 30 Sep | ₹78 | ₹0 | 0% | +0.1% | +0.1 |
| Varmora Granito | 29 Sep | ₹148 | ₹1 | +0.7% | +4.7% | +4.0 |
| Anand Seamless | 29 Sep | ₹72 | ₹0 | 0% | +0.1% | +0.1 |
| Himalaya Nutravedics India | 29 Sep | ₹106 | ₹0 | 0% | +11.3% | +11.3 |
| Vivekanand Cotspin | 28 Sep | ₹37 | ₹0 | 0% | +2.7% | +2.7 |
| FX Multitech | 28 Sep | ₹116 | ₹6.3 | +5.5% | +6.1% | +0.6 |
| Robokidz Eduventures | 28 Sep | ₹106 | ₹85 | +79.9% | +90.0% | +10.1 |
| Axiom Gas Engineering | 25 Sep | ₹54 | ₹0 | 0% | +1.4% | +1.4 |
| NSE | 24 Sep | ₹1,785 | ₹42 | +2.3% | +0.8% | -1.5 |
| Sonaselection | 24 Sep | ₹99 | ₹0 | 0% | +3.3% | +3.3 |
| Kheria Autocomp | 24 Sep | ₹101 | ₹3 | +3.0% | +3.9% | +0.9 |
| SpectraA Technology Solutions | 24 Sep | ₹118 | ₹77 | +65.5% | +90.0% | +24.5 |
How we score
Error = actual listing gain minus the gain our last pre-listing estimate implied, in percentage points of the issue price. An IPO counts only if we were already publishing an estimate while it was open for bids.
Recent listings not counted
These listed after our data began, but they had already closed for bids before we were publishing an estimate for them, so they are shown for reference only.
| IPO | Listed | Issue price | Listing price | Gain |
|---|---|---|---|---|
| Jindal Supreme (India) | 23 Sep | ₹93 | ₹120 | +29.0% |
| Hero Motors | 23 Sep | ₹84 | ₹82 | -2.4% |
| SS Retail | 23 Sep | ₹424 | ₹624 | +47.2% |
| Quanto Agroworld | 22 Sep | ₹67 | ₹67 | 0% |
| Shakti Polytarp | 22 Sep | ₹59 | ₹59 | -0.2% |
| Vama Wovenfab | 22 Sep | ₹341 | ₹341 | 0% |
| Manika Plastech | 21 Sep | ₹43 | ₹43 | 0% |
| Century Business Media | 21 Sep | ₹74 | ₹74 | 0% |
| Injecto Polymers | 21 Sep | ₹100 | ₹99 | -1.0% |
| Veegaland Developers | 18 Sep | ₹140 | ₹154 | +10.0% |
| Panchatv Bharat | 18 Sep | ₹140 | ₹129 | -7.9% |
| Raksan Transformers | 18 Sep | ₹273 | ₹273 | 0% |
| Om Galaxy | 18 Sep | ₹90 | ₹90 | +0.2% |
| Maharaja & Speedex India | 18 Sep | ₹186 | ₹250 | +34.4% |
| Rentomojo | 17 Sep | ₹404 | ₹482 | +19.4% |
| Manipal Payment and Identity Solutions | 17 Sep | ₹339 | ₹330 | -2.6% |
| Karamtara Engineering | 17 Sep | ₹254 | ₹320 | +26.0% |
| Asset Reconstruction Co. (India) | 17 Sep | ₹139 | ₹139 | 0% |
| LCC Projects | 17 Sep | ₹146 | ₹189 | +29.4% |
| Steamhouse India | 17 Sep | ₹81 | ₹94 | +16.7% |
| Vinod Texworld | 17 Sep | ₹94 | ₹94 | 0% |
| Infrax Renewable | 17 Sep | ₹104 | ₹104 | 0% |
| Amtech Esters | 17 Sep | ₹75 | ₹100 | +33.3% |
| Prasol Chemicals | 16 Sep | ₹676 | ₹610 | -9.8% |
| Glass Wall Systems | 16 Sep | ₹182 | ₹194 | +6.6% |
| Kanohar Electricals | 16 Sep | ₹632 | ₹686 | +8.5% |
Grey market premium (GMP) is an unofficial, unregulated indication. Our estimate is information only and not investment advice. We are not registered with SEBI, we do not trade in the grey market, and a GMP can change or disappear without notice. Please read the offer document and decide for yourself. Full disclaimer.