What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for Arihant Academy Limited IPO?

Based on the upper price band of ₹90 and current GMP of ₹39, the estimated listing price is ₹129 (approx. 43.3% gain).

What is the expected profit per lot for Arihant Academy Limited IPO?

With a lot size of 1600 shares and current GMP of ₹39, expected profit per retail application lot is approximately ₹62,400.

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Grey Market Intelligence

Arihant Academy Limited

ListedSME

Education / Training Services · NSE

Incorporated in 2007, Arihant Academy Limited operates under the brand name “Arihant Academy” and provides coaching services and parallel educational support across Mumbai’s western suburbs. The company offers classes for 8th, 9th, and 10th (State Board and ICSE), 11th and 12th (Science and Commerce), and specialized coaching for major entrance exams including JEE Main, JEE Advanced, NEET, and MHT-CET, along with professional exam preparation for CA and CS (entry and second level). From its initial 8 centres, Arihant Academy has expanded to 14 coaching branches, collectively training around 6,000 students.

Price Band

₹90

Issue Size

₹14.72 Cr

Lot Size

1600 shares

GMP

₹39

+43.3%

Est. Listing

₹129

at current GMP

Subscribed

235.87x

overall

Open

16 Dec 2022

21 Dec 2022

Allotment

26 Dec 2022

Refund

27 Dec 2022

Demat Credit

28 Dec 2022

Listing

29 Dec 2022

Last updated 11 months ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Arihant Academy Limited GMP Today

Last updated: 24 Nov 2025

Current Premium

₹39+43.3%

Issue Price (Upper)

₹90

Band: ₹90

Estimated Listing Price

₹129

Upper price + GMP

Lot Size

1600 shares

Min investment ₹1,44,000

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹39	43.3%	₹129
30 Oct 2026	+₹39	43.3%	₹129
29 Oct 2026	+₹35	39.0%	₹125

About Arihant Academy Limited Public Issue & Market Profile

Arihant Academy Limited is bringing an initial public offering (IPO) in the Education / Training Services sector with an aggregate issue size of ₹14.72 Crores. The shares are offered at a price band of ₹90 to ₹90 per equity share on NSE. Currently, market analysts recommend evaluating the company's financial valuation, price-to-earnings (P/E) multiple, and peer comparison prior to submitting bids.

Public Issue & Pricing Context:

The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.

Basis of Allotment & Listing Timeline:

Following the close of bidding on 2022-12-21, the basis of allotment is scheduled to be finalized on 2022-12-26. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Bigshare Services Private Limited) or the BSE allotment checking window.

Frequently Asked Questions

What is Arihant Academy Limited IPO GMP today?

The latest grey market premium for Arihant Academy Limited IPO is ₹39, which indicates an expected listing price of ₹129.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.