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IPO Grey Market Premiums Rise Ahead of Subscription
The grey market premiums of the upcoming IPOs of NSE, Hero Motors and Jindal Supreme rose by up to 29 percent on Monday ahead of their subscription openings this week. Hero Motors and Jindal Supreme recorded the highest premiums, while NSE traded at a premium of 11 to 12 percent.
By Finblage Editorial Desk
10:50 pm
14 September 2026
The grey market premiums of the upcoming initial public offerings of NSE, Hero Motors and Jindal Supreme rose on Monday ahead of their subscription openings this week, with premiums indicating potential listing gains for all three issues.
The initial public offering of the National Stock Exchange will open for subscription on September 17 and close on September 21, with the shares scheduled to make their market debut on September 24.
NSE has fixed a price band of Rs 1,700 to Rs 1,785 per share. At the upper end of the price band, the IPO is estimated to raise around Rs 22,569 crore, while the lower end implies proceeds of about Rs 21,494 crore.
According to IPO Watch and Investorgain, NSE shares were commanding a grey market premium of around 11 to 12 percent on Monday. The premium suggests a positive listing indication ahead of the issue opening, although grey market premiums are unofficial indicators and do not guarantee the actual listing price.
Auto parts manufacturer Hero Motors has fixed a price band of Rs 79 to Rs 84 per share for its Rs 1,000 crore IPO. The issue will open on September 16 and close on September 18, with the company expected to list its shares on September 23.
Hero Motors caters to global customers including BMW AG, Ducati Motor Holding, Enviolo International, Formula Motorsport and Hummingbird EV.
Jindal Supreme India, which manufactures plastic piping solutions and related products, has set a price band of Rs 88 to Rs 93 per share for its Rs 125 crore IPO. The issue will open for subscription on September 16 and close on September 18, while the anchor investor portion will open on September 15.
At the upper end of the price band, Jindal Supreme is estimated to have a post listing market capitalisation of around Rs 474.52 crore. Its equity shares are proposed to be listed on both the BSE and NSE on September 23.
Jindal Supreme recorded the highest grey market premium among the three IPOs at around 29 percent, followed by Hero Motors at 28 to 29 percent. NSE's premium stood at around 11 to 12 percent.
While the grey market premiums indicate expectations of positive listing gains, they are unofficial and can change before listing. Investors should therefore assess the companies' financial performance, valuations, business prospects and IPO structure rather than relying solely on grey market activity.
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This article is compiled from publicly available information, including company disclosures, stock exchange filings, regulatory announcements, and reports from global and domestic financial publications. The content has been editorially reviewed and enhanced by the Finblage Editorial Desk for clarity and investor awareness purposes only.
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