The grey market is paying a premium, suggesting it could list around ₹117 roughly +0.86% above the ₹116 issue price. This is unofficial and can change daily. Investors applied for 16.99× the shares available. Allotment will be hard to get. Your estimated chance of getting an allotment in the retail category is about 3% (very low).
What is GMP? The Grey Market Premium is the unofficial price investors pay to buy the shares before they list. The grey market is paying a premium, suggesting it could list around ₹117 roughly +0.86% above the ₹116 issue price. This is unofficial and can change daily.
* Grey Market Premium is unofficial and non-binding.
What does this mean? Investors applied for 16.99× the shares available. Allotment will be hard to get. A higher multiple means more competition, so allotment becomes harder to get.