What is GMP in SME IPO?

In an SME IPO, GMP stands for Grey Market Premium.

It refers to the premium (or discount) at which SME IPO shares are being traded unofficially in the grey market before they are listed on the exchange.

• A positive GMP means investors are willing to pay above the IPO issue price, indicating strong demand.
• A negative GMP means shares are trading below the issue price, showing weak demand.