📅 Last Updated: 23 March 2026 (Market Open) | GMP data is unofficial and not regulated by SEBI. Not investment advice.
The IPO GMP trend is one of the most watched signals by retail investors before an IPO lists on the stock exchange. GMP (Grey Market Premium) shows the unofficial premium at which IPO shares are trading before their official debut on BSE or NSE. Tracking the IPO GMP trend helps investors understand whether demand is rising, falling, or flat for any given IPO. For the official list of all upcoming IPOs, refer to the official NSE IPO page.
⚠️ IPO GMP trend data is sourced from unofficial grey markets and is not regulated by SEBI. Always verify from official NSE, BSE, or registrar sources before investing.
IPO GMP Trend – 23 March 2026 (Market Open)
GMP trend for all active IPOs as of 23 March 2026 (Market Open). Markets are expected to open gap-down ~350 pts (GIFT Nifty 22,784, −357).
| IPO Name | Issue Price | GMP (23 Mar) | Peak GMP | Trend | Est. / Actual Listing | Status |
|---|---|---|---|---|---|---|
| 🚀 Innovision Commerce | ₹519 | GMP −80 (final) | +₹71 (peak, then crashed) | ↓↓↓↓ CRASHED — Largest fall in March 2026 | Discount listing expected | 🚀 LISTING TODAY on BSE & NSE |
| 🔸 CMPDI (Coal India) | ₹163–172 | ~+₹1–2 (very weak) | +₹22 (17 Mar) | ↓↓↓ Collapsed (−91%) | ~₹173–174 (weak) | 🔸 OPEN Day 3 (20–24 Mar) Day 1 sub: 0.07x | Weakest IPO start |
| Speciality Medicines | ₹117–124 | ₹0 (flat) | ₹0 | ↔ Stable / Neutral | ~₹124 | 🔸 OPEN Day 3 (20–24 Mar) |
| 🔸 Tipco Engineering India | ₹84–89 | ₹0 (flat) | N/A (Day 1) | ↔ Neutral (opening day) | — | 🔸 OPENS TODAY (23–25 Mar) |
| Novus Loyalty SME | ₹146 | ₹0 (flat) | ₹0 | ↔ Stable | ~₹146 | ⏳ Allotment TODAY | Lists 25 Mar |
| GSP Crop Science | ₹320 | ₹0 (flat) | ₹0 | ↔ Stable | ~₹320 | 🚀 Listing TOMORROW (24 Mar) |
| Raajmarg InvIT | ₹99–100 | — | — | ↔ | — | 🚀 Listing TOMORROW (24 Mar) |
| 🔸 Powerica (opens tomorrow) | ₹375–395 | ~+₹13 | Pre-open early stage | ↑ Positive (pre-open) | ~₹408 est. | 🔸 Opens TOMORROW (24–27 Mar) |
| 🔸 Amir Chand (opens tomorrow) | ₹201–212 | ~+₹5–6 | Pre-open early stage | ↑ Positive (pre-open) | ~₹217–218 est. | 🔸 Opens TOMORROW (24–27 Mar) |
| 🔸 Highness Micro (opens tomorrow) | ₹114–120 | ~+₹7 | Pre-open early | ↑ Positive | ~₹127 est. | 🔸 Opens TOMORROW (24–27 Mar) BSE SME |
| ⭐ Apsis Aerocom (LISTED) | ₹110 | ₹153 LISTED 🔥 | +₹18 (11 Mar) | ↑↑ Crushed GMP | ₹153 ACTUAL (+39.09%) | ✅ Listed 18 Mar |
⚠️ GMP data sourced from IPOGuru, IPOWatch, chanakyanipothi.com. Not regulated by SEBI. Not investment advice. Last updated: 23 March 2026, Market Open.
23 March 2026 GMP Trend Analysis — Key Takeaways
- CMPDI (Day 3 — most watched): GMP crashed from +₹22 on 17 March to just +₹1–2 today — a 91% collapse in 6 days. Day 1 subscription of 0.07x (0.00x QIB) is alarming. The grey market has largely priced in a very muted listing. Day 4 QIB bidding (24 March) is the final chance for a recovery. Today’s gap-down open makes a bidding rush less likely.
- Innovision Commerce (listing today): The most dramatic GMP journey in March 2026 — from a peak of +₹71 to a crash at −₹80. This reversal from positive to deeply negative signals a massive failure of demand. Retail subscription of 0.60x confirms this. The IPO lists today with a gap-down market adding further pressure.
- Powerica & Amir Chand (opening tomorrow): Both show positive early GMP (+₹13 and +₹5–6) ahead of subscription opening on 24 March. However, today’s gap-down market may pressure GMP before they open.
- Tipco Engineering (opens today): BSE SME, opens today. GMP flat at ₹0. Day 1 subscription data will be available later today via BSE SME.
IPO GMP History and Movement – March 2026
| IPO Name | Issue Price | Peak GMP | Day Before Listing GMP | Actual / Expected Listing | GMP Accuracy |
|---|---|---|---|---|---|
| SEDEMAC Mechatronics | ₹1,352 | +₹83 | +₹83 | ₹1,535 (+13.54%) | GMP underestimated — actual 2.2x better |
| Rajputana Stainless | ₹122 | +₹1–2 | +₹1 | BSE ₹123.95 (+1.6%) / NSE flat | Flat as GMP suggested |
| Innovision Commerce | ₹519 | +₹71 (then crashed) | −₹80 (negative) | LISTING TODAY (discount expected) | GMP crash signalled discount — verified today |
| ⭐ Apsis Aerocom | ₹110 | +₹18 (11 Mar) | +₹8–9 | ₹153 (+39.09%) 🔥 | GMP massively underestimated |
| CMPDI (in progress) | ₹172 | +₹22 (17 Mar) | ~+₹1–2 (23 Mar) | ~₹173–174 at current GMP | Lists 30 Mar | GMP declining sharply — watch Day 4 sub |
| GSP Crop Science | ₹320 | ₹0 | ₹0 | Lists 24 Mar — est. ~₹320 | Neutral throughout |
How IPO GMP Trend Works – Complete Guide
Rising IPO GMP Trend ↑ — What It Means
A rising GMP trend indicates strong grey market demand. Powerica (+₹13) and Amir Chand (+₹5–6) are showing positive early GMP before their 24 March subscription opening. However, today’s global selloff (GIFT Nifty −357 pts) may pressure these GMPs before the market opens. Compare with IPO Subscription Status.
Falling IPO GMP Trend ↓ — What It Means
A falling GMP trend signals weakening demand. CMPDI’s drop from +₹22 to +₹1–2 (today) is a prime example driven by the 19 March market crash and subsequent weak subscription. Innovision Commerce’s collapse from +₹71 to −₹80 is the sharpest reversal of March 2026. Its discount listing today will be a key real-world GMP accuracy test.
Flat GMP ↔ — What It Means
Flat GMP of ₹0 indicates neutral grey market conviction. GSP Crop Science, Novus Loyalty, Speciality Medicines, and Tipco Engineering (Day 1) all show flat GMP, suggesting listing near issue price is the base case.
How to Use IPO GMP Trend Data
- Check trend direction: Consistent rise over 3+ days is a stronger signal than a one-day spike.
- Compare with subscription: High GMP + high oversubscription = strong signal. Visit IPO Subscription Status for figures.
- Watch for sharp drops close to listing: CMPDI’s collapse and Innovision’s crash are textbook warning signals.
- Adjust for market conditions: Today’s gap-down open (~350 pts) may temporarily suppress GMP for all open issues. Check Stock Market Today on listing days.
- Use GMP as one data point: Never apply based on GMP alone. Evaluate the DRHP, financials, and subscription data.
For current GMP values, visit our IPO GMP Today page. For upcoming IPOs, see our Current & Upcoming IPOs 2026 page.
Frequently Asked Questions — IPO GMP Trend
What is IPO GMP trend today (23 March 2026)?
Key GMP trends on 23 March: CMPDI collapsed to ₹1–2 (from ₹22 high) with Day 1 sub 0.07x. Innovision Commerce lists today with GMP was −₹80 (discount expected, markets also gap-down). Tipco Engineering opens today (flat GMP). Powerica (opens tomorrow) GMP ~+₹13. Amir Chand (opens tomorrow) GMP ~+₹5–6. GMP data is unofficial and not regulated by SEBI.
Why did CMPDI GMP fall so sharply?
CMPDI GMP fell from ₹22 (17 March, before subscription opened) to ₹1–2 (today) primarily because: (1) Sensex crashed −2.87% on 19 March due to US-Iran conflict; (2) Day 1 subscription was very weak at 0.07x overall; (3) Grey market participants exited positions due to uncertainty. The IPO closes tomorrow (24 March) — Day 4 QIB bidding is the final key.
Is IPO GMP trend reliable?
Directional and speculative, not a guarantee. March 2026 case studies: Apsis Aerocom (declining GMP from ₹18 to ₹8–9, yet listed +39.09% on 129.33x QIB sub). Innovision Commerce (GMP crashed to −₹80, retail only 0.60x, listing today with discount expected). Treat GMP trend as one of many signals.
Stay Updated on IPO GMP Trend India
- 🍁 IPO GMP Today — Daily grey market premium for all active IPOs
- 📅 Current & Upcoming IPOs 2026 — Full IPO calendar with dates and price bands
- ✅ IPO Allotment Status 2026 — Check your allotment result
- 🧮 IPO GMP Calculator — Convert any GMP into estimated listing price instantly
- 🏆 IPO Listing Gains 2026 — All IPO actual listing day returns
- 📊 IPO Subscription Status — Category-wise subscription data
📅 Last Updated: 23 March 2026 (Market Open) | MarketCreed.com — IPO GMP trend data is unofficial and not regulated by SEBI. Not investment advice.