IPO GMPs: Tata Capital IPO vs TruAlt Bioenergy IPO vs Jain Resource Recycling IPO — what grey market signals

IPO GMPs: The primary market is expected to remain active in the week starting September 29, with five new IPOs worth over ₹3,852 crore opening for subscription, and 11 companies set to make their market debut.

In addition to these fresh issues, several IPOs that opened last week are scheduled to close in the first two days, with allotments likely to be finalised shortly thereafter.

Before applying for an IPO, investors now often look at their GMPs. GMP, or Grey Market Premium, represents the unofficial premium at which IPO shares are traded in the grey market before listing. It reflects investor demand and sentiment, offering an early indication of how the stock may perform on its listing day. A positive GMP suggests high investor interest and expected gains, while a negative or low GMP may indicate lukewarm response.

Let's take a look at the IPO GMPs of the various issues in focus:

Tata Capital IPO GMP: Tata Capital IPO has a grey market premium (GMP) of ₹21. At the current premium, the stock is expected to list near ₹347, which would be about 6.44 per cent higher than the upper end of the price band set at ₹326.

The proposed ₹15,511.87 crore initial public offering consists of 47.58 crore shares, which includes a new issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares. Tata Capital IPO price band has been fixed in the range of ₹310 to ₹326 per equity share. The Tata Capital IPO date of subscription is scheduled for Monday, October 6 and will close on Wednesday, October 8. The allocation to anchor investors for the Tata Capital IPO is scheduled to take place on Friday, October 3.

TruAlt Bioenergy IPO GMP: TruAlt Bioenergy IPO has a grey market premium (GMP) of ₹105. At the current premium, the stock is expected to list near ₹601, which would be about 21.17 per cent higher than the upper end of the price band set at ₹496.

The proposed ₹839.28 crore initial public offering consists a combination of fresh issue of 1.51 crore shares aggregating to ₹750.00 crore and offer for sale of 0.18 crore shares aggregating to ₹89.28 crore. Trualt Bioenergy IPO price band is set at ₹472.00 to ₹496.00 per share. Trualt Bioenergy IPO bidding opened for subscription on Sep 25, 2025 and will close on Sep 29, 2025. The allotment is expected to be finalized on Sep 30, 2025and shares will list on BSE, NSE on Oct 3, 2025. The IPO has been subscribed 6.32 times by noon on Day 3

Jain Resource Recycling IPO GMP: Jain Resource Recycling IPO has a grey market premium (GMP) of ₹19. At the current premium, the stock is expected to list near ₹251, which would be about 8.19 per cent higher than the upper end of the price band set at ₹232.

The ₹1250 crore Jain Resource Recycling IPO comprises a fresh issue of 2.16 crore shares worth ₹500.00 crore and an offer for sale of 3.23 crore shares valued at ₹750.00 crore. The IPO opens on September 24, 2025, and closed on September 26, 2025, with allotment expected on September 29 and a tentative listing on October 1, 2025. The IPO was subscribed 16.76 times by Day 3.

Solarworld Energy Solutions IPO GMP: Solarworld Energy Solutions IPO has a grey market premium (GMP) of ₹30. At the current premium, the stock is expected to list near ₹381, which would be about 8.55 per cent higher than the upper end of the price band set at ₹351.

Solarworld Energy Solutions has announced a book-built IPO totalling ₹490 crore, comprising a fresh issue of 1.25 crore shares worth ₹440 crore and an offer for sale of 0.14 crore shares valued at ₹50 crore. The IPO opens for subscription on September 23, 2025, and closed on September 25, 2025. The allotment was finalised on September 26, 2025. The firm will list on BSE and NSE, with a tentative listing date of September 30, 2025. The IPO was bid 68.49 times end of Day 3.

Jaro Institute of Technology Management & Research IPO GMP: Jaro Institute IPO has a GMP of ₹45. At the current premium, the stock is expected to list near ₹935, which would be about 5.06 per cent higher than the IPO price of ₹890.

The ₹450 crore IPO comprises a fresh issue of 0.19 crore shares totalling ₹170 crore and an offer for sale of 0.31 crore shares valued at ₹280 crore. The IPO opened for subscription on September 23, 2025, and closed on September 25, 2025. The allotment was finalised on September 26, 2025, and shares are scheduled to list on BSE and NSE on September 30, 2025. The issue was booked 23.20 times by day 3.

Anand Rathi IPO GMP: Anand Rathi IPO has a GMP of ₹30. This suggests that the shares are trading above the issue price. At the current premium, the stock is expected to list near ₹444, which would be about 7.25 per cent higher than the upper end of the price band set at ₹414.

The ₹745 crore IPO of Anand Rathi Share is entirely of a fresh issue of 1.80 crore shares. The IPO opened for subscription on September 23, 2025, and closed on September 25, 2025. The allotment was finalized on September 26 with a tentative listing date of September 30, 2025. The issue was bid 21.83 times by Day 3.

Epack Prefab Technologies IPO GMP: Epack Prefab Technologies IPO has a GMP of ₹0. At the current premium, the stock is expected to list near ₹204, same as issue price.

Epack Prefab Technologies has launched a book-built IPO worth ₹504.00 crore, including a fresh issue of 1.47 crore shares worth ₹300.00 crore and an offer for sale of 1.00 crore shares valued at ₹204.00 crore. The IPO was open between September 24-26, 2025, with allotment expected on September 29, 2025 and shares likely to list on October 1, 2025. The issue was booked 3.14 times by end of Day 3.

Seshaasai Technologies IPO GMP: Seshaasai Technologies IPO has a GMP of ₹41. This suggests that the shares are trading above the issue price. At the current premium, the stock is expected to list near ₹464, which would be about 9.69 per cent higher than the upper end of the price band set at ₹423.

The ₹813.07 crore IPO of Seshaasai Technologies IPO is a combination of fresh issue of 1.13 crore shares aggregating to ₹480.00 crore and offer for sale of 0.79 crore shares aggregating to ₹333.07 crore. The IPO opened for subscription on September 23, 2025, and closed on September 25, 2025. The allotment was finalized on September 26 with a tentative listing date of September 30, 2025. The issue was bid 69.64 times by Day 3.

BMW Ventures IPOGMP: BMW Ventures IPO has a GMP of ₹0. This suggests that the shares are trading above the issue price. At the current premium, the stock is expected to list near ₹99, same as issue price.

The ₹231.66 crore IPO of BMW Ventures is entirely of a fresh issue of 2.34 crore shares. The IPO opened for subscription on September 24, 2025, and closed on September 26, 2025. The allotment is expected to be finalized on September 29 with a tentative listing date of October 1, 2025. The issue was bid 1.50 times by Day 3.

Jinkushal Industries IPO GMP: Jinkushal Industries IPO has a GMP of ₹17. This suggests that the shares are trading above the issue price. At the current premium, the stock is expected to list near ₹138, which would be about 14.05 per cent higher than the upper end of the price band set at ₹121.

The ₹116.15 crore IPO of Jinkushal Industries is a combination of fresh issue of 0.86 crore shares aggregating to ₹104.54 crore and offer for sale of 0.10 crore shares aggregating to ₹11.61 crore. The IPO opened for subscription on September 25, 2025, and will close on September 29, 2025. The allotment is likely to be finalized on September 20 with a tentative listing date of October 3, 2025. The issue was bid 18.33 times by noon on Day 3.

Pace Digitek IPO GMP: Pace Digitek IPO has a GMP of ₹12. This suggests that the shares are trading above the issue price. At the current premium, the stock is expected to list near ₹231, which would be about 5.48 per cent higher than the upper end of the price band set at ₹219.

The ₹819.15 crore IPO of Pace Digitek is entirely of a fresh issue of 3.74 crore shares. The IPO opened for subscription on September 26, 2025, and closed on September 30, 2025. The allotment is likely to be finalized on October 1 with a tentative listing date of October 6. The issue was bid 0.34 times by noon on Day 2.

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