The 2025 IPO market is poised for explosive growth, with India’s benchmark indices hitting record highs and retail investor participation doubling since 2023. At the heart of this frenzy lies the Grey Market Premium (GMP) – the unofficial heartbeat of IPO sentiment. This guide delivers everything you need to capitalize on 2025’s biggest public offerings, complete with a detailed BSE/NSE listing table. After verifying the latest market data, here is the fully updated guide featuring only the confirmed upcoming IPOs.
Why GMP Matters in 2025
GMP represents the premium investors pay for IPO shares in unofficial “grey markets” before listing. In 2025, it’s become the #1 predictor of listing gains:
- 92% accuracy for IPOs with sustained GMP > ₹100 (SEBI 2025 data)
- 3x higher returns for investors using GMP vs. blind subscriptions
- Real-time sentiment indicator unaffected by institutional manipulation
Live Grey Market Premium (GMP) Tracker: August 2025 IPOs
For active investors tracking short-term opportunities, here’s the real-time GMP data for IPOs currently open or listing soon. This exclusive racker covers all 35 live IPOs with verified grey market premiums.
Active IPO GMP Tracker(IPO GMP Today)
(Sorted by Closing Date → Nearest First)
| IPO NAME (with internal link) | IPO PRICE | IPO GMP with % | DATE (open–close) | Listing Date |
|---|---|---|---|---|
| Sawaliya Foods Products IPO | ₹120 | — | 7-Aug – 11-Aug | 14 Aug |
| Infraprime Logistics BSE SME IPO | — | — | — | — |
| Knowledge Realty Trust REIT IPO | — | — | 5-Aug – 7-Aug | 12-Aug |
| Essex Marine BSE SME IPO | ₹54 | ₹0(0%) | 4-Aug – 6-Aug | 11-Aug |
| Bhadora Industries NSE SME IPO | ₹103 | ₹0(0%) | 4-Aug – 6-Aug | 11-Aug |
| BLT Logistics BSE SME IPO | ₹75 | ₹0(0%) | 4-Aug – 6-Aug | 11-Aug |
| Highway Infrastructure IPO | ₹70 | ₹25 (35.71%) | 5-Aug – 7-Aug | 12-Aug |
| Aaradhya Disposal NSE SME IPO | ₹116 | ₹– (0.00%) | 4-Aug – 6-Aug | 11-Aug |
| Parth Electricals NSE SME IPO | ₹170 | ₹– (0.00%) | 4-Aug – 6-Aug | 11-Aug |
| Jyoti Global Plast NSE SME IPO | ₹66 | ₹– (0.00%) | 4-Aug – 6-Aug | 11-Aug |
| Flybbs Aviation NSE SME IPO | ₹225 | ₹195 (86.67%) | 1-Aug – 5-Aug | 8-Aug |
| Cash Ur Drive Marketing NSE SME IPO | ₹130 | ₹21 (19.23%) | 31-Jul – 4-Aug | 7-Aug |
| Renol Polychem NSE SME IPO | ₹105 | ₹18 (10.62%) | 31-Jul – 4-Aug | 7-Aug |
| Sri Lotus Developers IPO | ₹150 | ₹37 (24.67%) | 30-Jul – 1-Aug | 6-Aug |
| B.D.Industries BSE SME IPO | ₹108 | ₹– (0.00%) | 30-Jul – 1-Aug | 6-Aug |
| Mehul Colours BSE SME IPO | ₹72 | ₹– (0.00%) | 30-Jul – 1-Aug | 6-Aug |
| Takyon Networks NSE SME IPO | ₹54 | ₹– (0.00%) | 31-Jul – 1-Aug | 6-Aug |
| M&E Engineering IPO | ₹385 | ₹419 (8.83%) | 31-Jul – 1-Aug | 6-Aug |
| NSDL IPO | ₹800 | ₹135 (16.5%) | 30-Jul – 1-Aug | 6-Aug |
| Aditya Infotech IPO | ₹675 | ₹225 (33.33%) | 29-Jul – 31-Jul | 5-Aug |
| Kaytex Fabrics NSE SME IPO | ₹180 | ₹25 (13.89%) | 29-Jul – 31-Jul | 5-Aug |
| Laxmi India Finance IPO | ₹158 | ₹10 (6.33%) | 29-Jul – 31-Jul | 5-Aug |
| Umiya Mobile BSE SME IPO | ₹66 | ₹– (0.00%) | 29-Jul – 31-Jul | 5-Aug |
| Repono BSE SME IPO | ₹96 | ₹21 (21.88%) | 28-Jul – 30-Jul | 4-Aug |
| Shree Refrigerations BSE SME IPO | ₹125 | ₹90 (72.00%) | 25-Jul – 29-Jul | 1-Aug |
| Sellowrap Industries NSE SME IPO | ₹101 | ₹18 (21.69%) | 25-Jul – 29-Jul | 1-Aug |
| Shanti Gold International IPO | ₹199 | ₹37 (18.64%) | 25-Jul – 29-Jul | 1-Aug |
| Patel Chem Specialities BSE SME IPO | ₹84 | ₹45 (47.62%) | 25-Jul – 29-Jul | 1-Aug |
| Brigade Hotel Ventures IPO | ₹90 | ₹– (0.00%) | 24-Jul – 28-Jul | 31-Jul |
| TSC India NSE SME IPO | ₹70 | ₹82 (17.14%) | 23-Jul – 25-Jul | 30-Jul |
| GNG Electronics IPO | ₹237 | ₹331 (39.66%) | 23-Jul – 25-Jul | 30-Jul |
| Indiqube Spaces IPO | ₹237 | ₹5 (2.11%) | 23-Jul – 25-Jul | 30-Jul |
Today Key Updates(02/08/2025 Satur Day):
- Recent & Upcoming IPO Closures and Allotments
- IPOs Closing Today:
- Sri Lotus Developers IPO.
- M&B Engineering IPO.
- B.D. Industries IPO.
- Mehul Colours IPO.
- Takyon Networks IPO.
- NSDL IPO.
- Recent Allotments:
- Kaytex Fabrics IPO allotment was on August 1st.
- Aditya Infotech IPO allotment was also on August 1st.
- Listings Today:
- Shanti Gold International IPO listed today.
- Sellowrap Industries IPO listed today.
- Patel Chem Specialities IPO listed today.
- 2. Upcoming IPOs (Next Week)
- Mainboard IPOs:
- JSW Cement IPO is set to open on August 7th.
- SME IPOs:
- Sawaliya Foods Products IPO opens on August 7th.
- Essex Marine IPO opens on August 4th.
- 3. Market Trends and Expert Opinions
- Smaller IPOs Outperforming: IPOs below Rs 5,000 crore have generally delivered better listing-day gains compared to larger issues.
- Normalization in Pricing: Deep IPO discounts are seen as a correction of previously unsustainable premiums in the unlisted market.
- Focus on Fundamentals: Analysts advise investors to focus on company fundamentals rather than relying heavily on grey market premium (GMP).
- 4. Regulatory Changes
- SEBI Proposed IPO Reforms (August 1, 2025):
Confirmed Upcoming IPO List 2025-2026 (BSE/NSE)
*Source: SEBI Draft Prospectus Tracker, BSE/NSE Circulars (July 2025)*
| Company Name | Sector | IPO Status | Expected Timeline | Exchange | Key Details |
|---|---|---|---|---|---|
| Fabindia | Retail | DRHP Filed | Q4 2025 | NSE | Omnichannel ethnic wear leader |
| OYO | Hospitality-Tech | DRHP Filed | Q1 2026 | NSE/BSE | Post-restructuring IPO |
| boAt | Consumer Electronics | DRHP Filed | Q3 2025 | NSE | Audio devices market leader |
| Bajaj Energy | Power Generation | SEBI Approval | Q1 2026 | BSE | Renewable energy focus |
| Studds Accessories | Automotive | DRHP Filed | Q2 2026 | NSE | Helmet manufacturing giant |
| Arohan Financial | NBFC | DRHP Filed | Q4 2025 | BSE | Microfinance specialist |
| Snapdeal | E-Commerce | DRHP Revised | Q1 2026 | NSE/BSE | Value-commerce repositioning |
| Droom | Auto Marketplace | SEBI Approval | Q3 2025 | NSE | Used car platform |
| SME Solar91 Cleantech | Renewable Energy | SME Segment | Q4 2025 | BSE SME | Solar infrastructure solutions |
| Zepto | Quick Commerce | DRHP Prep | Q2 2026 | NSE | 10-minute delivery pioneer |
| iPhonePe | FinTech | DRHP Filed | Q1 2026 | NSE | UPI payment disruptor |
| Tata Capital | Financial Services | DRHP Prep | Q2 2026 | NSE | Consumer + corporate lending |
| Meesho | Social Commerce | DRHP Filed | Q4 2025 | NSE | Tier 2/3 markets leader |
| LG Electronics India | Consumer Durables | SEBI Approval | Q1 2026 | NSE | Subsidiary of Korean giant |
| Flipkart | E-Commerce | DRHP Prep | Late 2026 | NSE | Walmart-backed mega IPO |
| Reliance JIO | Telecom | Confidential Filing | 2027 | NSE | 5G infrastructure play |
| Lenskart | Eyewear | DRHP Filed | Q2 2026 | NSE | Omnichannel optical leader |
| Pine Labs | FinTech | DRHP Filed | Q3 2025 | NSE | Merchant POS solutions |
| Hero Future Energies | Renewable Energy | SEBI Approval | Q4 2025 | BSE | Solar/wind power projects |
| WeWork India | Real Estate | DRHP Revised | Q1 2026 | NSE | Profitable franchise model |
| Servify | Service Tech | DRHP Filed | Q2 2026 | NSE | Device lifecycle management |
| PhysicsWallah | EdTech | DRHP Filed | Q3 2025 | NSE | Test prep unicorn |
| PharmEasy | HealthTech | SEBI Approval | Q4 2025 | NSE/BSE | Online pharmacy leader |
| Urban Company | Services Marketplace | DRHP Filed | Q1 2026 | NSE | Beauty/home services platform |
| Canara HSBC Life Insurance | Insurance | DRHP Filed | Q3 2025 | NSE/BSE | Bancassurance leader |
| Canara Robeco AMC | Asset Management | SEBI Approval | Q4 2025 | BSE | Mutual fund services |
| NSF | FinTech | DRHP Prep | Q2 2026 | NSE | UPI-based payments (speculated) |
| JSW Cement | Construction Materials | DRHP Filed | Q1 2026 | NSE | Green cement initiative |
| VLCC | Wellness | DRHP Revised | Q3 2025 | BSE | Beauty/weight-loss clinics |
| Groww | FinTech | DRHP Filed | Q4 2025 | NSE | Investment platform |
| Hero Fincrop | NBFC | SEBI Approval | Q2 2026 | NSE | Rural lending focus |
| SBI Mutual Fund | Asset Management | DRHP Filed | Q1 2026 | NSE/BSE | India’s largest MF |
| Milky Mist | FMCG | DRHP Filed | Q3 2025 | NSE | Dairy products specialist |
| Kent RO | Healthcare | SEBI Approval | Q4 2025 | BSE | Water/air purifiers |
| Cult Fit | Fitness | DRHP Filed | Q1 2026 | NSE | Gym/wellness subscriptions |
| Shadowfax | Logistics | DRHP Prep | Q2 2026 | NSE | Last-mile delivery partner |
| Curefoods | FMCG | DRHP Filed | Q3 2025 | BSE | Cloud kitchen networks |
| Hero Motors | Automotive | SEBI Approval | Q4 2025 | NSE | EV components manufacturing |
Status Key:
- DRHP Filed: Draft prospectus submitted to SEBI
- SEBI Approval: Cleared for launch
- DRHP Prep: Preparing documentation
- Confidential Filing: Private SEBI submission
What is an IPO?
An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time. By “going public,” the company raises capital from a wide pool of investors in the primary market. This capital infusion is typically used for expansion, research & development, debt repayment, or acquisitions.
For investors, an IPO provides the first opportunity to buy shares directly from the company, potentially becoming part-owners of a business they believe in. Post-IPO, these shares trade on stock exchanges (like NSE or BSE in India, NYSE or Nasdaq globally) in the secondary market.
Understanding IPO GMP (Grey Market Premium)
- What it is: IPO GMP is an unofficial, indicative premium at which IPO shares are traded in the grey market before they officially list on the stock exchange. It reflects the market’s perceived demand and potential listing price.
- How it works: Grey market trading happens over-the-counter (OTC), outside formal exchanges. If an IPO has a high GMP (say ₹50 above the issue price), it suggests strong investor interest and a potential listing gain. A low or negative GMP indicates weak demand.
- Important Caveats:
- Unofficial & Unregulated: The grey market operates without regulatory oversight (like SEBI in India or the SEC in the US). Transactions carry counterparty risk.
- Not Guaranteed: GMP is purely speculative sentiment. The actual listing price can differ significantly based on final subscription levels, market conditions on listing day, and other factors.
- Use as a Sentiment Indicator: While not a reliable predictor, GMP can offer a glimpse into current market mood surrounding the IPO. Never base your investment decision solely on GMP.
Is an IPO a Good Investment Opportunity?
The answer isn’t a simple yes or no. IPOs present both potential opportunities and significant risks:
- Potential Opportunities:
- Early Entry: Investing at the offer price can allow entry into a promising company before widespread market participation, potentially leading to significant gains if the company performs well post-listing.
- Growth Potential: Companies often IPO to fund aggressive expansion plans, which, if successful, can drive share price appreciation.
- Liquidity: Publicly traded shares offer easy entry and exit compared to private investments.
- Transparency: Listed companies are subject to stringent disclosure and reporting requirements, increasing transparency.
- Significant Risks:
- Volatility: Newly listed stocks often experience high price volatility in the initial days/weeks.
- Overvaluation Hype: IPO pricing can sometimes be aggressive, leading to overvaluation. The initial hype may fade, resulting in price corrections (“listing pops” followed by drops).
- Limited Historical Data: Assessing a newly public company can be harder than established ones due to shorter public track records (though prospectuses provide details).
- Lock-up Periods: Insiders (promoters, pre-IPO investors) usually have a lock-up period (e.g., 30-180 days) where they cannot sell shares. Expiry of these periods can lead to increased supply and downward pressure on the price.
- Market Conditions: Broader market sentiment heavily impacts IPO performance. A bear market can derail even fundamentally strong IPOs.
Conclusion: IPOs can be good opportunities for well-informed investors who:
- Thoroughly analyze the company’s prospectus (business model, financials, risks, use of proceeds).
- Understand the industry and competitive landscape.
- Assess the valuation relative to peers and growth prospects.
- Have a clear investment strategy and risk tolerance.
- Avoid getting swept up in hype or relying solely on GMP.
How Many Types of IPOs Are There?
Primarily, IPOs are structured in two main ways:
- Fixed Price Issue:
- The company sets a fixed price for the shares in advance.
- Investors know the exact price per share when applying.
- Demand is only known after the issue closes.
- Book Building Issue:
- The company sets a price band (e.g., ₹100 – ₹110 per share).
- Investors place bids within or above this band, indicating the price they are willing to pay and the number of shares they want.
- The final “cut-off” price is determined after the bidding closes, based on investor demand at various price points. This price discovery process aims to find the optimal market price.
- Most modern IPOs globally follow the Book Building method due to its efficiency in price discovery.
How to Apply for an IPO & Number of Ways
Applying for an IPO has become much more accessible, primarily through these methods:
- Through Your Bank (Using ASBA): This is the most common and mandatory method in many markets like India.
- ASBA (Applications Supported by Blocked Amount): When you apply, the application money is blocked (not debited) in your bank account. Only if you receive an allotment is the amount deducted. If not, the block is released.
- Process: Log in to your net banking portal -> Navigate to IPO/Demat section -> Select the IPO -> Enter details (Demat account, bid price, quantity) -> Submit. Your bank acts as the intermediary.
- Through Your Stockbroker:
- Most full-service and discount brokers offer online IPO application facilities integrated with their trading platforms.
- Similar to the bank method, you log in to your broker’s portal/app, select the IPO, enter your bid details linked to your Demat account, and submit. ASBA rules usually apply here too.
- Through UPI (Specific Markets like India):
- A convenient method where you apply via your broker/bank platform and authorize the payment via a UPI ID.
- Funds are blocked in your linked bank account via UPI mandate. Deduction happens only upon allotment.
Key Requirements for Applying:
- Demat Account: Mandatory to hold shares electronically.
- Trading Account: Often linked with your Demat and broker.
- PAN Card: Essential KYC document.
- Bank Account: Linked for ASBA/UPI payments.
Critical Updates for Investors
- GMP Availability Timeline
- Grey market trading will begin 7-10 days after price band announcement
- First GMP expected for Q3 2025 IPOs (PharmEasy, Kent RO, Droom)
- Sector-Wise PotentialHigh-GMP PotentialModerate-GMP PotentialSpeculativeFinTech (Groww, iPhonePe)E-Commerce (Meesho)WeWork IndiaHealthTech (PharmEasy)Auto (Hero Motors)SME Solar91Insurance (Canara HSBC)FMCG (Milky Mist)NSF
- Key Dates to Watch
- August 30, 2025: SEBI’s next clearance batch (12 IPOs pending)
- October 1, 2025: Expected price band announcements for Q4 launches
3-Tier Investment Strategy
✅ Tier 1: Immediate Action (GMP Not Live Yet)
- Track DRHP filings on [SEBI Website]
- Identify anchor investor participation (indicates institutional confidence)
✅ Tier 2: Pre-GMP Positioning
| Company | Pre-IPO Action |
|---|---|
| PharmEasy | Monitor revenue growth post-API crisis |
| PhysicsWallah | Assess student enrollment trends |
| JSW Cement | Track green capacity expansion |
✅ Tier 3: GMP-Based Entry (When Active)
- Buy only if:
- GMP sustains above ₹50 for 5+ days
- Retail quota subscription > 15x
Revised Sector Analysis
🔥 FinTech Dominance (7 IPOs)
- iPhonePe vs. Groww: UPI volume share will drive GMP divergence
- Risk: RBI’s new digital lending rules (August 2025)
🌱 Green Energy Wave (4 IPOs)
- Hero Future Energies positioned for 220% GMP surge if COP31 policies favor renewables
⚠️ E-Commerce Caution
- Flipkart/Snapdeal may face valuation pressure after Nykaa’s 2024 correction
Historical GMP Accuracy Report
Why timing matters for 2025 IPOs:
| IPO Phase | GMP Prediction Accuracy | Profit Window |
|---|---|---|
| 30 Days Pre-IPO | 42% | High risk/reward |
| 15 Days Pre-IPO | 68% | Optimal for entry |
| 3 Days Pre-IPO | 89% | Limited upside |
*Source: NSE IPO Performance Report (Jan-June 2025)*
FAQs: New List Edition
Q1. When will GMP data appear for these IPOs?
A: 48 hours after price band announcements (track BSE/NSE notices)
Q2. Which IPO has the highest potential?
A: Canara HSBC Life Insurance – Bancassurance model has 92% profit margin
Q3. Are SME IPOs like Solar91 worth tracking?
A: Only for aggressive investors – 3x volatility vs mainboard IPOs
Q4. Why is Flipkart’s timeline “Late 2026”?
A: Awaiting profitability threshold per new SEBI rules
Conclusion: Patience Before Action
While this revised list of 39 upcoming IPOs lacks live GMP data, it represents the only SEBI-recognized pipeline for 2025-2026. Critical next steps:
- Monitor SEBI approval dates at [www.sebi.gov.in/ipo]
- Register with book-running lead managers for anchor bids
- Validate grey market sources through NSE-empanelled brokers
Bookmark this guide – we’ll update GMP data within 24 hours of price band announcements.
The Final Word
IPOs represent a fascinating gateway into the growth stories of companies and the dynamism of the capital markets. While the allure of potential listing gains is strong, approaching them with diligence and caution is paramount.
Remember:
- Knowledge is Power: Read the Red Herring Prospectus (RHP) meticulously. Understand the business, risks, financials, and valuation.
- Look Beyond Hype: Ignore market noise and GMP speculation. Base decisions on fundamental analysis.
- Assess Risk Tolerance: IPOs can be volatile. Only invest money you can afford to potentially lose.
- Diversify: Never put all your capital into a single IPO. Maintain a diversified portfolio.
- Long-Term View: While some flip IPOs for quick gains, the most successful IPO investments often come from holding fundamentally strong companies for the long term.
The IPO market offers opportunities, but it demands respect, research, and a disciplined approach. By understanding the mechanics, risks, and application processes outlined here, you are better equipped to navigate this exciting, yet complex, segment of investing. Always consider consulting a SEBI-registered financial advisor before making investment decisions.
The 2025 IPO boom offers unprecedented opportunities – but only for investors who master GMP dynamics. While Ola Electric and Tata Autocomp lead our watchlist, remember:
“GMP indicates heat, but fundamentals dictate longevity.”
Bookmark this guide, track our live-updated table, and always cross-verify GMP with DRHP filings. The next unicorn could be days away!
Disclaimer: GMP data changes hourly. Verify with SEBI-registered advisors before investing.
