The Grey Market Premium (GMP) is the price above the IPO issue price at which shares are being informally traded in the grey market before the company's official stock exchange listing. For example, if an IPO is priced at ₹500 per share and the grey market premium is ₹150, shares are changing hands informally at ₹650, implying an expected listing gain of 30%. GMP is widely tracked by retail investors in India as an informal indicator of likely listing performance, though it is not guaranteed—actual listing prices can differ significantly from GMP levels. SEBI does not regulate or endorse grey market activity, and investors should treat GMP as informal sentiment data rather than a reliable forecast.
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