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GMP (Grey Market Premium)
An unofficial, rumour-based price an IPO share trades at before it lists. It hints at listing-day demand but is not official and can be wrong.
Example
A ₹100 IPO with a ₹40 GMP suggests the market expects it to list near ₹140 — but this is unverified.
Worth knowing
Unofficial and speculative — treat with caution.