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 Gallard Steel Limited IPO?

Based on the upper price band of ₹150 and current GMP of ₹50, the estimated listing price is ₹200 (approx. 33.3% gain).

What is the expected profit per lot for Gallard Steel Limited IPO?

With a lot size of 1000 shares and current GMP of ₹50, expected profit per retail application lot is approximately ₹50,000.

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Grey Market Intelligence

Gallard Steel Limited

ListedSME

Metals & Alloys · BSE

Incorporated in 2015, Gallard Steel Limited is engaged in the manufacturing of engineered steel castings, including mild steel, SGCI, and low-alloy castings. The company produces ready-to-use components, assemblies, and subassemblies for sectors such as Indian Railways, defense, power generation, and allied industries. Its products include steel components, traction motor and bogie components for railways, defense cradles and trunnion housings, thermal and hydro turbine sub-assemblies, industrial machinery liners, and rebonded foam for furniture and industrial applications. Gallard Steel is focused on delivering high-quality, durable solutions across multiple sectors and, as of February 28, 2025, employs 58 employees.

Price Band

₹142 – ₹150

Issue Size

₹37.50 Cr

Lot Size

1000 shares

GMP

₹50

+33.3%

Est. Listing

₹200

at current GMP

Subscribed

375.62x

overall

Open

19 Nov 2025

21 Nov 2025

Allotment

24 Nov 2025

Refund

25 Nov 2025

Demat Credit

26 Nov 2025

Listing

26 Nov 2025

Last updated 11 months ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Gallard Steel Limited GMP Today

Last updated: 26 Nov 2025

Current Premium

₹50+33.3%

Issue Price (Upper)

₹150

Band: ₹142 – ₹150

Estimated Listing Price

₹200

Upper price + GMP

Lot Size

1000 shares

Min investment ₹1,50,000

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹50	33.3%	₹200
30 Oct 2026	+₹50	33.3%	₹200
29 Oct 2026	+₹45	30.0%	₹195

About Gallard Steel Limited Public Issue & Market Profile

Gallard Steel Limited is bringing an initial public offering (IPO) in the Metals & Alloys sector with an aggregate issue size of ₹37.5 Crores. The shares are offered at a price band of ₹142 to ₹150 per equity share on BSE. 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 2025-11-21, the basis of allotment is scheduled to be finalized on 2025-11-24. 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 (Ankit Consultancy Private Limited) or the BSE allotment checking window.

Frequently Asked Questions

What is Gallard Steel Limited IPO GMP today?

The latest grey market premium for Gallard Steel Limited IPO is ₹50, which indicates an expected listing price of ₹200.

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.