What is the difference between Grey Market and Gray Market?

'Grey market' and 'gray market' are simply spelling variations of the same unofficial over-the-counter market where IPO applications and shares trade prior to listing on BSE and NSE.

Is PhonePe IPO GMP official?

No, Grey Market Premium (GMP) is an informal, unorganized market price indicator and is not recognized by SEBI, BSE, or NSE. It fluctuates based on market demand and investor sentiment.

PHONEPEEQ / NSE, BSEUpcoming

PhonePe

PhonePe is a technology company focused on building digital platforms for mass adoption, offering a wide ecosystem across payments, digital distribution, and financial services to enable seamless access to goods and services across India. Its ecosystem operates through three main platforms: the PhonePe Platform for consumer and merchant payments, lending, and insurance distribution; Share.Market, a digital investing platform offering equity trading, ETFs, mutual funds, derivatives, and pre-built WealthBaskets; and Indus Appstore, an Android app marketplace for discovering, downloading, and updating apps and games. As of March 31, 2025, PhonePe had 618.4 million registered users, covering 43% of India’s population, and 44.87 million registered merchants, representing around 77–80% of India’s trade and services merchant base. The company focuses on driving inclusive digital adoption across Tier-1, Tier-2, and Tier-3+ cities through cutting-edge technology, a trusted brand, a highly experienced leadership team, and a scalable, diversified operating model that combines growth and financial performance.

DRHP

₹0 - ₹0GMP ₹0Open

GMP₹0

Est. Listing PriceTBA

PHONEPEEQ / NSE, BSEUpcoming

PhonePe IPO GMP

DRHP Document

Price Band₹0

Lot Size0 shares

Min Bid₹0

SubscriptionTracking

GMP

₹0Rates to be announced

Flatno premium

Issue Amount

₹0 Cr

Listed Price

Awaiting Listing

Current Price

N/A (Pre-Listing)

Registrar

Kfin Technologies Limited

Grey Market Premium (GMP)

₹0Latest GMP

Interactive 5-Day GMP Trend Curve

No GMP trend data currently available

GMP Milestone Daily Ledger

Milestone DateDate	Premium GMPGMP	Est. Listing PriceEst. Listing	Proj. Profit / LotLot Profit

PhonePe IPO Grey Market Premium (GMP) Today & Listing Gain Estimation (2026)

The Grey Market Premium (GMP) for PhonePe (PHONEPE) IPO represents the unofficial premium at which equity shares are traded in the grey market prior to their official exchange listing. Today, PhonePe IPO GMP is recorded at ₹0. The official price band is to be announced. Compare this with all other upcoming issues on our Live IPO GMP Today Master Table.

Retail Application Investment & Estimated Returns Breakdown

Parameter	Value / Calculation	Description
Price Band	To be announced	Official bidding range announced in RHP
Current GMP Rate	₹0	Unofficial premium traded in the grey market
Estimated Listing Price	To be announced	Calculated once price band is announced
Retail Lot Size	To be announced	Minimum bid quantity for Retail Individual Investors (RII)
Minimum Outlay	To be announced	Calculated once lot size is announced
Estimated Profit per Lot	To be announced	Calculated once lot size is announced

Key Grey Market Terms: GMP, Kostak & Subject to Sauda

1. Grey Market Premium (GMP): The additional price per share buyers are willing to pay over the official IPO price band before shares hit stock exchanges.
2. Kostak Rate: A fixed monetary deal where a buyer pays an investor a set cash amount to buy their entire IPO application upfront, ensuring fixed profit regardless of allotment outcomes.
3. Subject to Sauda: An agreement where the buyer pays a predetermined profit amount to the applicant ONLY if the application successfully receives IPO share allotment.

Frequently Asked Questions

Disclaimer: Grey Market Premium (GMP) rates are unorganized, unofficial prices based on dealer speculation. They are provided strictly for educational purposes and should not be considered investment advice.