Recent Trends in India’s IPO Grey Market Premiums

November 4, 2025 By usmanthotti business 2 min read

Recent Trends in India’s IPO Grey Market Premiums

As of November 4, 2025, India’s Initial Public Offering (IPO) market has exhibited dynamic activity, with several companies experiencing notable grey market premiums (GMPs). The GMP serves as an indicator of investor sentiment and potential listing performance.

Monolithisch India IPO

Monolithisch India, a manufacturer specializing in ramming mass for the iron and steel sector, launched its IPO on June 12, 2025, with a price band set between ₹135 and ₹143 per share. The offering concluded on June 16, 2025, and was oversubscribed by approximately 63 times. During the subscription period, the company’s shares commanded a GMP of 27%, suggesting strong investor interest and anticipated listing gains.

Amanta Healthcare IPO

Amanta Healthcare, known for its sterile liquid products, opened its IPO in August 2025. The issue was oversubscribed 82.61 times, reflecting robust demand. Prior to its listing on September 9, 2025, the company’s shares had a GMP of ₹9 per share, indicating potential listing gains of around 7-8%. This marked a decline from the earlier GMP of ₹22-25 during the IPO bidding period, highlighting shifting investor sentiments post-bidding closure.

Anthem Biosciences IPO

Anthem Biosciences, a prominent player in the biotechnology sector, launched its ₹3,395-crore IPO on July 14, 2025, with a price band of ₹540-570 per share. The issue witnessed a subscription of 63.86 times by the close of bidding. In the grey market, the company’s shares commanded a premium of approximately ₹153, indicating a potential listing gain of 26.84%.

Quality Power IPO

Quality Power’s IPO, which closed in February 2025, experienced a significant decline in its GMP. Initially, the GMP was around ₹135, but it dropped to ₹0 by February 19, 2025. This decline suggested that the shares were expected to list at par with the issue price, indicating neutral investor sentiment.

These varying GMPs across different IPOs underscore the dynamic nature of investor sentiment in India’s capital markets. While some companies have garnered substantial premiums, others have faced challenges, reflecting the diverse factors influencing market perceptions and expectations.