NSE IPO GMP eases to ₹140-142 as Day 2 subscription crosses 51%
NSE's grey market premium has settled around ₹140-142 today, down sharply from the ₹310 peak seen on September 5 — a roughly 55% pullback even as the issue itself gets subscribed. Against the ₹1,785 upper band, that implies a listing near ₹1,925-1,927, about 7.8-8%, a more modest debut than the low-teens percentages the grey market was pricing in two weeks ago. Day 2 subscription stood at 51% overall by Friday morning, split unevenly: non-institutional investors led at 89%, retail at 53%, and qualified institutional buyers lagging at just 19% — QIBs typically bid heaviest on the final day, so that number has room to move before the Monday, September 21 close.