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 HVAX Technologies Limited IPO?

Based on the upper price band of ₹458 and current GMP of ₹25, the estimated listing price is ₹483 (approx. 5.5% gain).

What is the expected profit per lot for HVAX Technologies Limited IPO?

With a lot size of 300 shares and current GMP of ₹25, expected profit per retail application lot is approximately ₹7,500.

IPO GreyPremiumLIVE

Grey Market Intelligence

HVAX Technologies Limited

ListedSME

Emerging SME Services · NSE

HVAX Technologies Limited, founded in 2010, specializes in turnkey solutions for controlled environments and cleanroom infrastructure, primarily serving the pharmaceutical and healthcare sectors. The company provides a wide range of third-party-manufactured products, including cleanroom panels, doors, air handling units, and utility distribution systems. With a strong presence in industries like pharmaceuticals, healthcare, chemicals, and FMCG, HVAX has successfully completed around 200 projects across India and 15 countries, including Algeria, the UAE, New Zealand, and Saudi Arabia. Financially strong, the company executed 52 projects worth ₹6,632.27 lakhs in FY 2022, 48 projects generating ₹9,343.63 lakhs in FY 2023, and 53 projects valued at ₹8,445.73 lakhs in FY 2024. As of August 31, 2024, HVAX employs 125 permanent staff and 21 temporary workers, positioning itself for continued growth in the cleanroom infrastructure industry.

Price Band

₹435 – ₹458

Issue Size

₹33.53 Cr

Lot Size

300 shares

GMP

₹25

+5.5%

Est. Listing

₹483

at current GMP

Subscribed

34.26x

overall

Open

27 Sep 2024

1 Oct 2024

Allotment

3 Oct 2024

Refund

4 Oct 2024

Demat Credit

5 Oct 2024

Listing

7 Oct 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

HVAX Technologies Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹25+5.5%

Issue Price (Upper)

₹458

Band: ₹435 – ₹458

Estimated Listing Price

₹483

Upper price + GMP

Lot Size

300 shares

Min investment ₹1,37,400

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹25	5.5%	₹483
30 Oct 2026	+₹25	5.5%	₹483
29 Oct 2026	+₹23	4.9%	₹481

About HVAX Technologies Limited Public Issue & Market Profile

HVAX Technologies Limited is bringing an initial public offering (IPO) in the Emerging SME Services sector with an aggregate issue size of ₹33.53 Crores. The shares are offered at a price band of ₹435 to ₹458 per equity share on NSE. 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 300 shares (approx. ₹1,37,400 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 Kfin Technologies Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-10-05, while un-allotted funds or UPI block mandates will be released on 2024-10-04.

Frequently Asked Questions

What is HVAX Technologies Limited IPO GMP today?

The latest grey market premium for HVAX Technologies Limited IPO is ₹25, which indicates an expected listing price of ₹483.

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.