IPO Listing Today: Hero Motors, SS Retail and Jindal Supreme IPOs are set to make their stock market debuts on Wednesday, September 23, with grey-market trends pointing to sharply different listing outcomes for the three issues.
While the Hero Motors IPO is indicating a possible discounted listing, grey-market indications for SS Retail and Jindal Supreme suggest that both stocks could list at premiums to their respective issue prices.
Hero Motors IPO GMP Signals Discounted Listing
The Hero Motors IPO GMP is currently indicating a discounted listing for the shares. Against the upper price band of Rs 84 per share, the prevailing grey-market indication suggests an estimated listing price of around Rs 81.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
This translates into an indicative discount of about 3.57% to the IPO issue price, based on the current GMP.
The grey market, however, is unofficial and operates outside the regulated stock market ecosystem. GMP trends can change before listing and should not be considered a guarantee of the actual listing price.
ALSO READ: SS Retail vs Jindal Supreme vs Hero Motors IPO: Latest GMP, Estimated Listing Price Compared
SS Retail IPO GMP Indicates Strong Listing Premium
The SS Retail IPO GMP is indicating a strong premium ahead of its stock market debut.
SS Retail shares were commanding a GMP of around Rs 160 per share, according to available grey-market indications. Against the final issue price of Rs 424 per share, this implies an indicative listing price of around Rs 584.
If the GMP holds until listing, SS Retail shares could debut at a premium of approximately 37.74% over the issue price.
Jindal Supreme IPO GMP Signals Premium Listing
The Jindal Supreme IPO GMP is also pointing towards a premium listing on the bourses.
Jindal Supreme shares were commanding a GMP of around Rs 29 per share, according to available grey-market indications. With the IPO priced at Rs 93 per share, the implied listing price works out to around Rs 122.
This indicates a potential listing premium of approximately 31.18% over the issue price if the grey-market trend translates into the actual debut.
Investors should note that GMP is an unofficial and off-market indicator. It can fluctuate considerably ahead of listing and does not necessarily reflect the actual price at which shares will begin trading on the NSE or BSE.
Hero Motors, SS Retail, Jindal Supreme IPO Subscription Status
The three IPOs also saw strong demand during the bidding period, although subscription levels varied majorly.
The Hero Motors IPO was subscribed 6.66 times overall. The retail portion was subscribed 8.23 times, while the non-institutional investor (NII) portion was subscribed 9.86 times and the qualified institutional buyer (QIB) portion 1.49 times.
The SS Retail IPO received a total subscription of 103.30 times. The retail portion was subscribed 36.36 times, the NII portion 143.32 times and the QIB portion 203.61 times.
The Jindal Supreme IPO saw the highest overall subscription among the three issues at 181.07 times. Its retail portion was subscribed 149.34 times, while the NII and QIB portions were subscribed 327.99 times and 126.41 times, respectively.
Hero Motors IPO Details
The Hero Motors IPO was a book-built issue of Rs 1,000 crore, comprising a fresh issue of 7.14 crore shares aggregating to Rs 600 crore and an offer for sale of 4.76 crore shares worth Rs 400 crore.
The IPO opened for subscription on September 16, 2026 and closed on September 18, 2026. The allotment was finalised on September 21, 2026.
ICICI Securities Ltd. was the book-running lead manager, while Kfin Technologies Ltd. was the registrar to the issue.
SS Retail IPO Details
The SS Retail IPO was a book-built issue of Rs 500 crore, comprising a fresh issue of 85.08 lakh shares worth Rs 360 crore and an offer for sale of 33.02 lakh shares worth Rs 140 crore.
The IPO opened on September 16, 2026 and closed on September 18, 2026.
Anand Rathi Advisors Ltd. was the book-running lead manager and Kfin Technologies Ltd. was the registrar to the issue.
Jindal Supreme IPO Details
The Jindal Supreme IPO was a book-built issue of Rs 124.88 crore, comprising a fresh issue of 1.07 crore shares aggregating to Rs 99.89 crore and an offer for sale of 26.87 lakh shares worth Rs 24.99 crore.
The IPO opened for subscription on September 16, 2026 and closed on September 18, 2026.
Sarthi Capital Advisors Pvt. Ltd. was the book-running lead manager, while Bigshare Services Pvt. Ltd. was the registrar to the issue.
Hero Motors Vs SS Retail Vs Jindal Supreme: What GMP Indicates
Based on the latest grey-market indications provided, Hero Motors is pointing towards a discounted listing, while SS Retail and Jindal Supreme are indicating potential premium listings.
SS Retail has the highest indicated premium of around 37.74%, followed by Jindal Supreme at around 31.18%. Hero Motors, meanwhile, is indicating a possible discount of around 3.57% to its issue price.
However, GMP should be viewed only as an unofficial market indicator. The actual listing price will be determined by trading conditions and demand and supply on the NSE and BSE once the shares begin trading.
ALSO READ: Asian Stock Markets Today: Nikkei, KOSPI Rise Even Amid Wall Street AI Rally, Lower Crude Oil Prices
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
