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 Heranba Industries Limited IPO?

Based on the upper price band of ₹627 and current GMP of ₹270, the estimated listing price is ₹897 (approx. 43.1% gain).

What is the expected profit per lot for Heranba Industries Limited IPO?

With a lot size of 23 shares and current GMP of ₹270, expected profit per retail application lot is approximately ₹6,210.

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Grey Market Intelligence

Heranba Industries Limited

ListedMainboard

Materials & Chemicals · NSE / BSE

Incorporated in 1992, Heranba Industries Limited is a Gujarat-based manufacturer of crop protection chemicals, specializing in synthetic pyrethroids such as cypermethrin, deltamethrin, and lambda-cyhalothrin, along with a wide range of insecticides, fungicides, herbicides, and other pest control products. The company operates across domestic and international markets, with 8,600 dealers in India and exports to over 60 countries. Heranba Industries has three manufacturing units in Vapi, Gujarat, with a total capacity of 14,024 MTPA, and maintains in-house R&D facilities recognized by the Department of Scientific and Industrial Research (DSIR), including a new facility at Sarigam operational from December 2020.

Price Band

₹626 – ₹627

Issue Size

₹625 Cr

Lot Size

23 shares

GMP

₹270

+43.1%

Est. Listing

₹897

at current GMP

Subscribed

—

Open

23 Feb 2021

25 Feb 2021

Allotment

2 Mar 2021

Refund

3 Mar 2021

Demat Credit

4 Mar 2021

Listing

5 Mar 2021

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Heranba Industries Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹270+43.1%

Issue Price (Upper)

₹627

Band: ₹626 – ₹627

Estimated Listing Price

₹897

Upper price + GMP

Lot Size

23 shares

Min investment ₹14,421

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹270	43.1%	₹897
30 Oct 2026	+₹270	43.1%	₹897
29 Oct 2026	+₹243	38.8%	₹870

About Heranba Industries Limited Public Issue & Market Profile

Heranba Industries Limited is bringing an initial public offering (IPO) in the Materials & Chemicals sector with an aggregate issue size of ₹625 Crores. The shares are offered at a price band of ₹626 to ₹627 per equity share on NSE and BSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.

Public Issue & Pricing Context:

Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 23 shares (approx. ₹14,421 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.

Basis of Allotment & Listing Timeline:

Allotment reconciliation will be managed by Bigshare Services Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2021-03-04, while un-allotted funds or UPI block mandates will be released on 2021-03-03.

Frequently Asked Questions

What is Heranba Industries Limited IPO GMP today?

The latest grey market premium for Heranba Industries Limited IPO is ₹270, which indicates an expected listing price of ₹897.

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.