Tonbo Imaging India is currently leading the grey market premium rankings among recently announced public issues, with a grey market premium of around ₹500 per share against the upper issue price of ₹700. This indicates an estimated listing price of ₹1,200, implying a potential premium of approximately 71.43%. The Tonbo Imaging IPO was subscribed over 0.89 times on the first day of bidding, with the retail category receiving 1.08 times subscription and Non-Institutional Investors (NIIs) subscribed 1.61 times, while the QIB section remained unsubscribed.
Jio Platforms, scheduled to open its IPO on October 21 and close on October 23 with a price band of ₹1,065–₹1,119 per share, is attracting strong grey market attention ahead of what is expected to be India's largest-ever public offering. According to the latest grey market data, Jio Platforms IPO GMP stands at ₹218, meaning the estimated listing price is likely to be ₹1,337, which is 19.48% higher than the IPO price of ₹1,119. The issue is being closely watched as it represents a significant milestone in India's IPO market, with the GMP trend currently showing a rising trajectory based on 12 recorded day-wise updates. The estimated profit for one lot containing 12 shares works out to ₹2,616 before brokerage, taxes and other charges.
HD Fire Protect has emerged as the second-strongest IPO in this comparison based on grey market indicators, with a grey market premium of around ₹90 and an upper price band of ₹271. The estimated listing price works out to ₹361 per share, suggesting a potential gain of approximately 33.2%. Meanwhile, Fusion CX, which opened on October 14 and closes on October 16, has attracted comparatively lower grey market expectations than Tonbo Imaging and HD Fire Protect, with a GMP of ₹88 signalling an estimated listing price of ₹359, which is 32.47% higher than the IPO price of ₹271.
Zetwerk Manufacturing Business has a more modest grey market performance with a GMP of around ₹22 per share against the upper issue price of ₹151, indicating an estimated listing price of ₹173, indicating a potential premium of approximately 14.57%. The IPO opened on October 14 and is scheduled to close on October 16, positioning it as one of the current offerings in the market. These varying grey market trends indicate different levels of investor enthusiasm across the recently announced public issues, with Tonbo Imaging leading the premium rankings while other companies show more moderate expectations.
