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 Travels & Rentals Limited IPO?

Based on the upper price band of ₹40 and current GMP of ₹20, the estimated listing price is ₹60 (approx. 50.0% gain).

What is the expected profit per lot for Travels & Rentals Limited IPO?

With a lot size of 3000 shares and current GMP of ₹20, expected profit per retail application lot is approximately ₹60,000.

IPO GreyPremiumLIVE

Grey Market Intelligence

Travels & Rentals Limited

ListedSME

Services / Transportation · BSE

Incorporated in 1996, Travels & Rentals Limited is a comprehensive travel solutions provider offering airline ticketing, customizable inbound and outbound tour packages, hotel reservations, visa and passport processing, travel insurance, and activity tickets. With a global network of travel agents across Europe, the USA, South and Southeast Asia, the Middle East, Africa, and Australia, the company is accredited by IATA, recognized by the Ministry of Tourism, and a member of TAAI and IATO. As of March 31, 2024, Travels & Rentals employs 58 professionals dedicated to delivering exceptional travel experiences.

Price Band

₹40

Issue Size

₹12.24 Cr

Lot Size

3000 shares

GMP

₹20

+50.0%

Est. Listing

₹60

at current GMP

Subscribed

592.39x

overall

Open

29 Aug 2024

2 Sep 2024

Allotment

3 Sep 2024

Refund

4 Sep 2024

Demat Credit

5 Sep 2024

Listing

5 Sep 2024

Last updated 5 months ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Travels & Rentals Limited GMP Today

Last updated: 20 May 2026

Current Premium

₹20+50.0%

Issue Price (Upper)

₹40

Band: ₹40

Estimated Listing Price

₹60

Upper price + GMP

Lot Size

3000 shares

Min investment ₹1,20,000

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹20	50.0%	₹60
30 Oct 2026	+₹20	50.0%	₹60
29 Oct 2026	+₹18	45.0%	₹58

About Travels & Rentals Limited Public Issue & Market Profile

Travels & Rentals Limited is bringing an initial public offering (IPO) in the Services / Transportation sector with an aggregate issue size of ₹12.24 Crores. The shares are offered at a price band of ₹40 to ₹40 per equity share on 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 3000 shares (approx. ₹1,20,000 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 Cameo Corporate Services Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-09-05, while un-allotted funds or UPI block mandates will be released on 2024-09-04.

Frequently Asked Questions

What is Travels & Rentals Limited IPO GMP today?

The latest grey market premium for Travels & Rentals Limited IPO is ₹20, which indicates an expected listing price of ₹60.

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.