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IPO GMP — Grey Market Premium Today

Latest grey market premium for current and upcoming IPOs. GMP indicates the premium at which IPO shares are trading unofficially before listing. It is indicative only and not investment advice.

IPOStatusPrice BandGMPEst. ListingEst. GainClose DateUpdated
Horizon Reclaim (India) LimitedSMEClosed₹98 – ₹10375₹178+72.8%16 Jun 202616 Jul 2026, 9:41 pm
Susan Electricals India LimitedSMEClosed₹120 – ₹12743₹170+33.9%15 Jun 202616 Jul 2026, 7:45 pm
Simca Advertising LimitedSMEClosed₹1832₹185+1.1%12 May 202624 Jun 2026, 5:39 pm
Bagmane REIT LimitedMainboardClosed₹1004₹104+4.0%7 May 202624 Jun 2026, 5:39 pm
Recode Studios LimitedSMEClosed₹15843₹201+27.2%7 May 202624 Jun 2026, 5:39 pm
Value 360 Communications LimitedSMEClosed₹980₹98+0.0%6 May 202617 Jun 2026, 1:24 pm
OnEMI Technology Solutions LimitedMainboardClosed₹17118₹189+10.5%5 May 202624 Jun 2026, 5:39 pm
Amba Auto Sales and Services Ltd.SMEClosed₹1350₹135+0.0%29 Apr 202624 Jun 2026, 5:39 pm
Adisoft Technologies Ltd.SMEClosed₹17221₹193+12.2%27 Apr 202624 Jun 2026, 5:39 pm
Citius Transnet InvIT LimitedMainboardClosed₹1003.5₹103.5+3.5%21 Apr 202624 Jun 2026, 5:39 pm
Mehul Telecom LimitedSMEClosed₹983.75₹101.75+3.8%21 Apr 202624 Jun 2026, 5:39 pm
Propshare Celestia LimitedMainboardClosed₹10,50,0000₹10,50,000+0.0%16 Apr 202624 Jun 2026, 5:39 pm
Om Power Transmission LimitedMainboardClosed₹1752₹177+1.1%13 Apr 202624 Jun 2026, 5:39 pm
Safety Controls & Devices Ltd.SMEClosed₹800₹80+0.0%8 Apr 202616 Jun 2026, 4:32 am
Saffron Speciality Papers LimitedSMEUpcoming014 Jun 2026, 10:55 pm
Axiom Gas Engineering LimitedSMEUpcoming₹530₹53+0.0%22 Sept 202610 Sept 2026, 10:49 am
Sonaselection India LimitedMainboardUpcoming₹990₹99+0.0%21 Sept 202610 Sept 2026, 10:49 am
Kheria Autocomp LimitedSMEUpcoming₹1010₹101+0.0%21 Sept 202610 Sept 2026, 10:49 am
Hero Motors LimitedMainboardUpcoming₹840₹84+0.0%18 Sept 202610 Sept 2026, 10:49 am
Jindal Supreme LimitedMainboardUpcoming₹9311₹104+11.8%18 Sept 202610 Sept 2026, 10:49 am
SS Retail LimitedMainboardUpcoming₹4240₹424+0.0%18 Sept 202610 Sept 2026, 10:49 am
Shakti Polytarp LimitedSMEUpcoming₹590₹59+0.0%17 Sept 202610 Sept 2026, 10:49 am
Vama Wovenfab LimitedSMEUpcoming₹3410₹341+0.0%17 Sept 202610 Sept 2026, 10:49 am
Quanto Agroworld LimitedSMEUpcoming₹670₹67+0.0%17 Sept 202610 Sept 2026, 10:49 am
Century Business Media LimitedSMEUpcoming₹740₹74+0.0%16 Sept 202610 Sept 2026, 10:49 am
Injecto Polymers LimitedSMEUpcoming₹1000₹100+0.0%16 Sept 202610 Sept 2026, 10:49 am
Manika Plastech LimitedMainboardUpcoming₹4313₹56+30.2%16 Sept 202610 Sept 2026, 10:49 am
Raksan Transformers LimitedSMEOpen₹27325₹298+9.2%15 Sept 202610 Sept 2026, 10:49 am
Veegaland Developers LimitedMainboardOpen₹14024₹164+17.1%15 Sept 202610 Sept 2026, 10:49 am
Om Galaxy LimitedSMEOpen₹900₹90+0.0%15 Sept 202610 Sept 2026, 10:49 am
Maharaja & Speedex LimitedSMEOpen₹18630₹216+16.1%15 Sept 202610 Sept 2026, 10:49 am
Panchatv Bharat LimitedSMEOpen₹1400₹140+0.0%15 Sept 202610 Sept 2026, 10:49 am
Infrax Renewable LimitedSMEOpen₹1040₹104+0.0%11 Sept 202610 Sept 2026, 10:49 am
Karamtara Engineering LimitedMainboardOpen₹25475₹329+29.5%11 Sept 202610 Sept 2026, 10:49 am
LCC Projects LimitedMainboardOpen₹14649₹195+33.6%11 Sept 202610 Sept 2026, 10:49 am
Manipal Payment and Identity Solutions LimitedMainboardOpen₹3398₹347+2.4%11 Sept 202610 Sept 2026, 2:35 am
Asset Reconstruction LimitedMainboardOpen₹13924₹163+17.3%11 Sept 202610 Sept 2026, 10:49 am
Manipal Payment and LimitedMainboardOpen₹3398₹347+2.4%11 Sept 202610 Sept 2026, 10:49 am
Steamhouse LimitedMainboardOpen₹8120₹101+24.7%11 Sept 202610 Sept 2026, 10:49 am
Rentomojo LimitedMainboardOpen₹404143₹547+35.4%11 Sept 202610 Sept 2026, 10:49 am
Amtech Esters LimitedSMEOpen₹7511₹86+14.7%11 Sept 202610 Sept 2026, 10:49 am
Vinod Texworld LimitedSMEOpen₹9420₹114+21.3%11 Sept 202610 Sept 2026, 10:49 am
Kanohar Electricals LimitedMainboardOpen₹632223₹855+35.3%10 Sept 202610 Sept 2026, 10:49 am
Prasol Chemicals LimitedMainboardOpen₹6760₹676+0.0%10 Sept 202610 Sept 2026, 10:49 am
Glass Wall Systems LimitedMainboardOpen₹18265₹247+35.7%10 Sept 202610 Sept 2026, 10:49 am
Pranav Constructions LimitedMainboardClosed₹12440₹164+32.3%9 Sept 202610 Sept 2026, 10:49 am
Apana Logistics LimitedSMEClosed₹601₹61+1.7%9 Sept 202610 Sept 2026, 10:49 am
Qualiance International LimitedSMEClosed₹12780₹207+63.0%8 Sept 202610 Sept 2026, 10:49 am
Fly-Hi Maritime Travels LimitedSMEClosed₹1021₹103+1.0%3 Sept 202610 Sept 2026, 10:49 am
Farm Peace LimitedSMEClosed₹5959₹118+100.0%3 Sept 202610 Sept 2026, 10:49 am
Deepa Jewellers LimitedMainboardClosed₹17725₹202+14.1%3 Sept 202610 Sept 2026, 10:49 am
Rays of Belief LimitedMainboardClosed₹23915₹254+6.3%3 Sept 202610 Sept 2026, 10:49 am
Shanti Inorganics LimitedSMEClosed₹8355₹138+66.3%2 Sept 202610 Sept 2026, 10:49 am
Ashutosh Fibre LimitedSMEClosed₹9256₹148+60.9%2 Sept 202610 Sept 2026, 10:49 am
Pernia's Pop-up Studio LimitedMainboardClosed₹5750₹575+0.0%2 Sept 202627 Aug 2026, 1:27 pm
Purple Style Labs LimitedMainboardClosed₹575-10₹565-1.7%2 Sept 202610 Sept 2026, 10:49 am
Phychem Technologies LimitedSMEClosed₹541₹55+1.9%2 Sept 202610 Sept 2026, 10:49 am
Complete Sports and Management India LimitedSMEClosed₹1350₹135+0.0%1 Sept 20267 Sept 2026, 12:40 am
Priority Jewels LimitedMainboardClosed₹20028₹228+14.0%1 Sept 202610 Sept 2026, 8:59 am
Complete Sports and Management India LimitedSMEClosed₹1350₹135+0.0%1 Sept 202610 Sept 2026, 8:59 am
Paluck Technologies LimitedSMEClosed₹489₹57+18.8%1 Sept 202610 Sept 2026, 8:59 am
ESDS Software Solution LimitedMainboardClosed₹429311₹740+72.5%1 Sept 202610 Sept 2026, 8:59 am
Kwick Forensic Solutions Ltd.SMEClosed₹9078₹168+86.7%31 Aug 20269 Sept 2026, 12:47 pm
Lumino Industries LimitedMainboardClosed₹8238₹120+46.3%31 Aug 20269 Sept 2026, 12:16 pm
Annu Projects LimitedMainboardClosed₹99-7₹92-7.1%28 Aug 20269 Sept 2026, 8:06 am
Sumax Engineering LimitedSMEClosed₹10122₹123+21.8%28 Aug 20269 Sept 2026, 8:06 am
ABH Healthcare LimitedSMEClosed₹1020₹102+0.0%26 Aug 20269 Sept 2026, 6:33 am
Skyways Air Services Ltd.MainboardClosed₹13833₹171+23.9%27 Aug 20269 Sept 2026, 7:04 am
Hy-Tech Engineers LimitedMainboardClosed₹5339₹92+73.6%27 Aug 20269 Sept 2026, 4:44 am
Madhur Knit Crafts Ltd.SMEClosed₹1002₹102+2.0%27 Aug 20269 Sept 2026, 7:19 am
Symbiotec Pharmalab Ltd.MainboardClosed₹988185₹1,173+18.7%27 Aug 20269 Sept 2026, 7:35 am
Augmont Enterprises Ltd.MainboardClosed₹788290₹1,078+36.8%25 Aug 20267 Sept 2026, 7:58 am
Tempsens Instruments (India) Ltd.MainboardClosed₹300330₹630+110.0%24 Aug 20267 Sept 2026, 7:11 am
Gaja Alternative Asset Management Ltd.MainboardClosed₹16018.5₹178.5+11.6%21 Aug 202630 Aug 2026, 4:14 am
Mopshop Distribution LimitedSMEClosed₹1381₹139+0.7%21 Aug 20267 Sept 2026, 7:11 am
Gaja Alternative Asset LimitedMainboardClosed₹16018.5₹178.5+11.6%21 Aug 20267 Sept 2026, 6:24 am
Shankesh Jewellers Ltd.MainboardClosed₹932.75₹95.75+3.0%20 Aug 20264 Sept 2026, 9:35 am
Sunshine Pictures LimitedMainboardClosed₹36050₹410+13.9%20 Aug 20264 Sept 2026, 9:35 am
Lalithaa Jewellery Mart LimitedMainboardClosed₹20174₹275+36.8%19 Aug 20264 Sept 2026, 8:48 am
Horizon Industrial Parks LimitedMainboardClosed₹601.5₹61.5+2.5%19 Aug 20264 Sept 2026, 9:35 am
Skytech Infinite Platform LimitedSMEClosed₹771₹78+1.3%18 Aug 20264 Sept 2026, 8:02 am
ENS Enterprises LimitedSMEClosed₹925₹97+5.4%18 Aug 20264 Sept 2026, 8:33 am
Technocrats Plasma Systems Ltd.SMEClosed₹13270₹202+53.0%18 Aug 20264 Sept 2026, 6:28 am
Credent Connect N Care LimitedSMEClosed₹18992₹281+48.7%17 Aug 20263 Sept 2026, 9:39 am
Pramodini Medicare Ltd.SMEClosed₹1180₹118+0.0%14 Aug 20263 Sept 2026, 8:52 am
Behari Lal Engineering LimitedMainboardClosed₹285133₹418+46.7%14 Aug 20263 Sept 2026, 8:52 am
Q&T Foods LimitedSMEClosed₹1151₹116+0.9%14 Aug 20263 Sept 2026, 8:36 am
Shiprocket LimitedMainboardClosed₹9735₹132+36.1%14 Aug 20263 Sept 2026, 7:33 am
Milky Mist Dairy Food LimitedMainboardClosed₹14019.7₹159.7+14.1%13 Aug 20261 Sept 2026, 9:00 am
Fascinate Textiles Ltd.SMEClosed₹1560₹156+0.0%13 Aug 202610 Sept 2026, 10:02 am
Milky Mist Dairy Food LimitedMainboardClosed₹14018₹158+12.9%13 Aug 202617 Aug 2026, 5:52 pm
Sham Foam LimitedSMEClosed₹1301.5₹131.5+1.2%13 Aug 20261 Sept 2026, 8:14 am
Dhoot Transmission Ltd.MainboardClosed₹871262₹1,133+30.1%12 Aug 202630 Aug 2026, 4:14 am
Molbio Diagnostics Ltd.MainboardClosed₹807116₹923+14.4%12 Aug 202631 Aug 2026, 1:48 am
LEAP India LimitedMainboardClosed₹159 – ₹013₹1311 Aug 202625 Aug 2026, 2:39 pm
Technocraft Ventures Ltd.MainboardClosed₹21242₹254+19.8%11 Aug 202626 Aug 2026, 10:37 pm
Optimystix Entertainment India Ltd.SMEClosed₹1750₹175+0.0%11 Aug 202623 Aug 2026, 7:42 pm
LAPL Automotive LimitedSMEClosed₹9450₹144+53.2%10 Aug 202625 Aug 2026, 8:38 am
Ardee Industries LimitedMainboardClosed₹5317₹70+32.1%7 Aug 202624 Aug 2026, 9:44 am
Aegeus Technologies LimitedSMEClosed₹10512₹117+11.4%6 Aug 202624 Aug 2026, 8:42 am
Anawil Wire and Engineering Ltd.SMEClosed₹27058₹328+21.5%5 Aug 202624 Aug 2026, 8:26 am
Anawil Wire & Engineering LimitedSMEClosed₹27058₹328+21.5%5 Aug 202611 Aug 2026, 12:33 pm
Fusion Klassroom Edutech LimitedSMEClosed₹1590₹159+0.0%4 Aug 202624 Aug 2026, 8:26 am
G V Electricals Ltd.SMEClosed₹13025₹155+19.2%4 Aug 202624 Aug 2026, 8:11 am
Dhaval Packaging LimitedSMEClosed₹9712₹109+12.4%3 Aug 202622 Aug 2026, 5:54 am
Oneindig Technologies LimitedSMEClosed₹967₹103+7.3%3 Aug 202622 Aug 2026, 6:25 am
Juniper Green Energy Ltd.MainboardClosed₹22523₹248+10.2%3 Aug 202622 Aug 2026, 7:59 am
MV Electrosystems LimitedMainboardClosed₹425 – ₹0109₹1093 Aug 202623 Aug 2026, 7:58 pm
Manipal Health Enterprises LimitedMainboardClosed₹5907₹597+1.2%31 Jul 202619 Aug 2026, 8:30 am
H R Hygiene Products LimitedSMEClosed₹881₹89+1.1%31 Jul 202619 Aug 2026, 9:01 am
Poojaa Precision Engg. LimitedSMEClosed₹301200₹501+66.4%30 Jul 202618 Aug 2026, 7:01 pm
Propshop Events & Exhibitions LimitedSMEClosed₹690₹69+0.0%29 Jul 20268 Aug 2026, 3:48 am
Propshop Events and Exhibitions Ltd.SMEClosed₹690₹69+0.0%29 Jul 202618 Aug 2026, 7:01 pm
Advance Technoforge LimitedSMEClosed₹954₹99+4.2%29 Jul 202618 Aug 2026, 7:01 pm
Silverstorm Parks and Resorts Ltd.SMEClosed₹1335₹138+3.8%28 Jul 202618 Aug 2026, 7:01 pm
Silverstorm Parks & Resorts LimitedSMEClosed₹1335₹138+3.8%28 Jul 20268 Aug 2026, 3:48 am
Indo-MIM LimitedMainboardClosed₹485184₹669+37.9%27 Jul 202618 Aug 2026, 7:01 pm
Lohia Corp LimitedMainboardClosed₹42517₹442+4.0%27 Jul 202618 Aug 2026, 7:01 pm
Xtranet Technologies Ltd.MainboardClosed₹12714.5₹141.5+11.4%27 Jul 202618 Aug 2026, 7:01 pm
Shree Balaji (Mala) Textiles Ltd.SMEClosed₹7056₹126+80.0%24 Jul 202618 Aug 2026, 7:01 pm
Cube Highways Trust LimitedMainboardClosed₹1521.75₹153.75+1.2%24 Jul 202618 Aug 2026, 7:01 pm
METALIC TECHNOFORGE Ltd.SMEClosed₹776₹83+7.8%23 Jul 202618 Aug 2026, 7:01 pm
Gulf Lloyds (India) LimitedSMEClosed₹1001₹101+1.0%22 Jul 202618 Aug 2026, 7:01 pm
Caliber Mining and Logistics Ltd.MainboardClosed₹42460₹484+14.2%21 Jul 202618 Aug 2026, 7:01 pm
Sotefin Bharat LimitedSMEClosed₹1872.5₹189.5+1.3%20 Jul 202618 Aug 2026, 7:01 pm
Alpine Texworld LimitedMainboardClosed₹100 – ₹1051₹106+1.0%16 Jul 202618 Aug 2026, 7:01 pm
Millworks Technologies LimitedSMEClosed₹331395₹726+119.3%16 Jul 202618 Aug 2026, 7:01 pm
SBI Funds Management Ltd.MainboardClosed₹545 – ₹57465₹639+11.3%16 Jul 202618 Aug 2026, 7:01 pm
Happy Steels LimitedSMEClosed₹6610₹76+15.2%13 Jul 202610 Aug 2026, 8:06 am
Laser Power & Infra Ltd.MainboardClosed₹21439₹253+18.2%13 Jul 20268 Aug 2026, 9:16 am
Devson Catalyst LimitedSMEClosed₹11849₹167+41.5%13 Jul 20269 Aug 2026, 6:51 pm
Laser Power & Infra Ltd.MainboardClosed₹21439₹253+18.2%13 Jul 202629 Jul 2026, 5:35 pm
Kusumgar LimitedMainboardClosed₹419 – ₹0161₹16110 Jul 20266 Aug 2026, 10:40 pm
Knack Packaging LimitedMainboardClosed₹17013₹183+7.6%3 Jul 20266 Aug 2026, 12:11 am
Sampark India Logistics LimitedSMEClosed₹842.5₹86.5+3.0%2 Jul 20265 Aug 2026, 5:59 am
Teja Engineering Industries Ltd.SMEClosed₹22036₹256+16.4%2 Jul 20265 Aug 2026, 8:35 am
Seemax Resources LimitedSMEClosed₹1410₹141+0.0%2 Jul 20265 Aug 2026, 7:33 am
Atharva Polyplast LimitedSMEClosed₹6010₹70+16.7%2 Jul 20265 Aug 2026, 11:27 am
Vinit Mobile LimitedSMEClosed₹1580₹158+0.0%2 Jul 20265 Aug 2026, 8:20 am
Kratikal Tech LimitedSMEClosed₹13578₹213+57.8%2 Jul 20265 Aug 2026, 8:20 am
Aastha Spintex LimitedMainboardClosed₹1365₹141+3.7%1 Jul 202631 Jul 2026, 7:24 am
Adon Agro Commodities LimitedSMEClosed₹700₹70+0.0%1 Jul 20262 Aug 2026, 5:02 pm
Twinkle Papers LimitedSMEClosed₹690₹69+0.0%1 Jul 202610 Sept 2026, 10:02 am
Crazy Snacks LimitedSMEClosed₹420₹42+0.0%30 Jun 202629 Jul 2026, 9:28 am
IC Electricals Company LimitedSMEClosed₹9947₹146+47.5%30 Jun 20266 Aug 2026, 7:59 am
Dhanwel Hybrid Seeds LimitedSMEClosed₹991₹100+1.0%29 Jun 20267 Sept 2026, 6:55 am
Sri Priyanka Geo LimitedSMEClosed₹2120₹212+0.0%29 Jun 202610 Sept 2026, 10:02 am
Sri Priyanka Geo Commex LimitedSMEClosed₹2120₹212+0.0%29 Jun 202629 Jun 2026, 11:59 am
CSM Technologies LimitedMainboardClosed₹1130₹113+0.0%29 Jun 202627 Jul 2026, 8:32 am
Waterways Leisure Tourism LimitedMainboardClosed₹808-51₹757-6.3%25 Jun 202625 Jul 2026, 8:41 am
Jivial Industries LimitedSMEClosed₹1960₹196+0.0%25 Jun 202625 Jul 2026, 8:10 am
Advit Jewels LimitedMainboardClosed₹138 – ₹049.5₹49.525 Jun 202625 Jul 2026, 11:04 am
Shreedhar Spinners Ltd.SMEClosed₹530₹53+0.0%25 Jun 202625 Jul 2026, 11:04 am
Turtlemint Fintech Solutions Ltd.MainboardClosed₹152-5₹147-3.3%23 Jun 202624 Jul 2026, 6:33 am
Anubhav Plast LimitedSMEClosed₹800₹80+0.0%23 Jun 202624 Jul 2026, 6:33 am
Avience Biomedicals Ltd.SMEClosed₹208145₹353+69.7%22 Jun 202623 Jul 2026, 8:33 am
Riyaasat Lifestyle LimitedSMEClosed₹1080₹108+0.0%22 Jun 202622 Jul 2026, 11:57 pm
Clay Craft India LimitedSMEClosed₹20372₹275+35.5%19 Jun 202615 Jun 2026, 6:41 am
Leapfrog Engineering Services Ltd.SMEClosed₹230₹23+0.0%19 Jun 202620 Jul 2026, 9:41 am
Diksha Polymers LimitedSMEClosed₹1120₹112+0.0%19 Jun 202622 Jul 2026, 1:48 am
Liotech Industries LimitedSMEClosed₹3210₹321+0.0%19 Jun 202622 Jul 2026, 1:15 am
Clay Craft India LimitedSMEClosed₹193 – ₹20335₹238+17.2%19 Jun 202622 Jul 2026, 12:21 am
Complete Sports and Management India LimitedSMEClosed₹1350₹135+0.0%1 Sept 20268 Sept 2026, 5:18 pm
Utkal Speciality Industries India Ltd.SMEClosed₹660₹66+0.0%12 Jun 202616 Jul 2026, 7:45 pm
Aureate Tradde LimitedSMEClosed₹701₹71+1.4%2 Jun 20267 Jul 2026, 2:38 pm
Rajnandini Fashion India Ltd.SMEClosed₹636₹69+9.5%29 May 20265 Jul 2026, 12:28 am
Yaashvi Jewellers LimitedSMEClosed₹830₹83+0.0%27 May 20262 Jul 2026, 9:51 am
M.R.Maniveni Foods LimitedSMEClosed₹520₹52+0.0%26 May 20262 Jul 2026, 2:21 am
Q-Line Biotech LimitedSMEClosed₹343112₹455+32.7%25 May 202629 Jun 2026, 7:51 pm
Bio Medica Laboratories LimitedSMEClosed₹139-9₹130-6.5%25 May 202629 Jun 2026, 7:51 pm
Autofurnish LimitedSMEClosed₹410₹41+0.0%25 May 202629 Jun 2026, 7:51 pm
Vegorama Punjabi Angithi Ltd.SMEClosed₹779₹86+11.7%22 May 202629 Jun 2026, 7:51 pm
Harikanta Overseas LimitedSMEClosed₹910₹91+0.0%27 May 202629 Jun 2026, 7:51 pm
Teamtech Formwork Solutions Ltd.SMEClosed₹635₹68+7.9%21 May 202617 Jun 2026, 1:24 pm
NFP Sampoorna Foods Ltd.SMEClosed₹550₹55+0.0%20 May 202624 Jun 2026, 7:00 pm
Goldline Pharmaceutical LimitedSMEClosed₹4315₹58+34.9%14 May 202624 Jun 2026, 5:39 pm
RFBL Flexi Pack LimitedSMEClosed₹501.5₹51.5+3.0%14 May 202624 Jun 2026, 5:39 pm

Disclaimer: GMP rates are based on unofficial grey market activity and are provided for informational purposes only. Do not make investment decisions based on GMP alone.

IPO GMP — frequently asked questions

What does IPO GMP mean?

IPO GMP (Grey Market Premium) is the extra amount, over and above the issue price, at which IPO shares trade unofficially in the grey market before they list on the exchange. It reflects market sentiment about expected listing gains and is indicative only, not investment advice.

How is the estimated listing price calculated from GMP?

The estimated listing price is calculated by adding the GMP to the upper end of the IPO price band. For example, if the price band is Rs 100 and the GMP is Rs 30, the estimated listing price is around Rs 130. Actual listing prices can differ significantly.

Is grey market premium reliable?

GMP is an unofficial, sentiment-driven indicator and can change rapidly before listing. It is not regulated and should not be the sole basis for an investment decision.