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 United Heat Transfer Limited IPO?

Based on the upper price band of ₹59 and current GMP of ₹17, the estimated listing price is ₹76 (approx. 28.8% gain).

What is the expected profit per lot for United Heat Transfer Limited IPO?

With a lot size of 2000 shares and current GMP of ₹17, expected profit per retail application lot is approximately ₹34,000.

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Grey Market Intelligence

United Heat Transfer Limited

ListedSME

Capital Goods · NSE

United Heat Transfers Limited, incorporated in January 1995, manufactures critical thermal and process equipment including heat exchangers, pressure vessels, and process flow skids used across petrol and diesel engines, marine vessels, mining trucks, and heavy machinery. The company operates two advanced manufacturing facilities in Nashik and, as of July 31, 2024, employs 105 permanent staff supported by 127 contractual workers.

Price Band

₹56 – ₹59

Issue Size

₹30.00 Cr

Lot Size

2000 shares

GMP

₹17

+28.8%

Est. Listing

₹76

at current GMP

Subscribed

83.91x

overall

Open

22 Oct 2024

24 Oct 2024

Allotment

25 Oct 2024

Refund

26 Oct 2024

Demat Credit

27 Oct 2024

Listing

29 Oct 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

United Heat Transfer Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹17+28.8%

Issue Price (Upper)

₹59

Band: ₹56 – ₹59

Estimated Listing Price

₹76

Upper price + GMP

Lot Size

2000 shares

Min investment ₹1,18,000

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹17	28.8%	₹76
30 Oct 2026	+₹17	28.8%	₹76
29 Oct 2026	+₹15	25.9%	₹74

About United Heat Transfer Limited Public Issue & Market Profile

United Heat Transfer Limited is bringing an initial public offering (IPO) in the Capital Goods sector with an aggregate issue size of ₹30 Crores. The shares are offered at a price band of ₹56 to ₹59 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 2000 shares (approx. ₹1,18,000 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 Link Intime India Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-10-27, while un-allotted funds or UPI block mandates will be released on 2024-10-26.

Frequently Asked Questions

What is United Heat Transfer Limited IPO GMP today?

The latest grey market premium for United Heat Transfer Limited IPO is ₹17, which indicates an expected listing price of ₹76.

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.