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 Suryoday Small Finance Bank Limited IPO?

Based on the upper price band of ₹305 and current GMP of ₹-10, the estimated listing price is ₹295 (approx. -3.3% gain).

What is the expected profit per lot for Suryoday Small Finance Bank Limited IPO?

With a lot size of 49 shares and current GMP of ₹-10, expected profit per retail application lot is approximately ₹-490.

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Grey Market Intelligence

Suryoday Small Finance Bank Limited

ListedMainboard

Financial Services · NSE / BSE

Incorporated in 2008, Suryoday Small Finance Bank Ltd is a leading Small Finance Bank in India, serving primarily unbanked and underbanked customers. The company commenced its SFB operations in 2017, having previously operated as an NBFC. As of July 31, 2020, it had 482 banking outlets and a customer base of 1.43 million, operating mainly in urban and semi-urban areas. The bank offers a range of credit products including MFI loans, Vikas Loans, and Shopkeeper Loans, along with digital banking, NPCI payment systems, and mobile banking solutions. It focuses on innovative banking practices to serve underserved segments and maintains a diversified asset portfolio with an emphasis on retail operations.

Price Band

₹305

Issue Size

₹582 Cr

Lot Size

49 shares

GMP

₹10

-3.3%

Est. Listing

₹295

at current GMP

Subscribed

—

Open

17 Mar 2021

19 Mar 2021

Allotment

24 Mar 2021

Refund

25 Mar 2021

Demat Credit

26 Mar 2021

Listing

26 Mar 2021

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Suryoday Small Finance Bank Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹-10-3.3%

Issue Price (Upper)

₹305

Band: ₹305

Estimated Listing Price

₹295

Upper price + GMP

Lot Size

49 shares

Min investment ₹14,945

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	-₹10	-3.3%	₹295
30 Oct 2026	-₹10	-3.3%	₹295
29 Oct 2026	—	-3.0%	₹296

About Suryoday Small Finance Bank Limited Public Issue & Market Profile

Suryoday Small Finance Bank Limited is bringing an initial public offering (IPO) in the Financial Services sector with an aggregate issue size of ₹582 Crores. The shares are offered at a price band of ₹305 to ₹305 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.

Public Issue & Pricing Context:

Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 49 shares (approx. ₹14,945 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 2021-03-26, while un-allotted funds or UPI block mandates will be released on 2021-03-25.

Frequently Asked Questions

What is Suryoday Small Finance Bank Limited IPO GMP today?

The latest grey market premium for Suryoday Small Finance Bank Limited IPO is ₹-10, which indicates an expected listing price of ₹295.

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.