IRCON International IPO GMP History
IRCON International IPO has been listed on September 28, 2018 at a listing price of ₹412, against the issue price of ₹475 — a loss of ₹63 (-13.26%). The GMP peaked at ₹97.5 on 11 September 2018 and reached a low of ₹9 on 25 September 2018. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
IRCON International IPO raised ₹466.93 Cr. through its IPO at a price band of ₹470 to ₹475 per share, with a lot size of 30 shares. The IPO was open for subscription from 17 Sep 2018 to 19 Sep 2018.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 12 Nov, 3:12 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 25 Sep 2018 | ₹ 9 | — | 2% | — | — |
| 24 Sep 2018 | ₹ 9 | ▼ | 2% | — | — |
| 23 Sep 2018 | ₹ 27.5 | — | 6% | — | — |
| 22 Sep 2018 | ₹ 27.5 | — | 6% | — | — |
| 21 Sep 2018 | ₹ 27.5 | ▼ | 6% | — | — |
| 20 Sep 2018 | ₹ 37.5 | — | 8% | — | — |
| 19 Sep 2018 | ₹ 37.5 | — | 8% | — | — |
| 18 Sep 2018 | ₹ 37.5 | ▼ | 8% | — | — |
| 17 Sep 2018 | ₹ 47.5 | ▼ | 10% | — | — |
| 16 Sep 2018 | ₹ 87.5 | — | 18% | — | — |
| 15 Sep 2018 | ₹ 87.5 | — | 18% | — | — |
| 14 Sep 2018 | ₹ 87.5 | — | 18% | — | — |
| 13 Sep 2018 | ₹ 87.5 | — | 18% | — | — |
| 12 Sep 2018 | ₹ 87.5 | ▼ | 18% | — | — |
| 11 Sep 2018 | ₹ 97.5 | ▲ | 21% | — | — |
| 10 Sep 2018 | ₹ 82.5 | ▲ | 17% | — | — |
| 09 Sep 2018 | ₹ 45 | — | 9% | — | — |
| 08 Sep 2018 | ₹ 45 | — | 9% | — | — |
IRCON International IPO dates
Key dates from opening to listing. Today is 12 November.
- Open 17 Sep 2018
- Close 19 Sep 2018
- Allotment 25 Sep 2018
- Refund/credit 26 Sep 2018
- Listing 28 Sep 2018
IRCON International IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹475 |
|---|---|
| GMP-based estimate (pre-listing) | ₹484 (+1.9%) |
| Listing gain / loss | −₹63 per share |
| Listing date | 28 Sep, 2018 |
| Actual listing price | ₹412 (-13.26%) |
Is IRCON International IPO GMP reliable?
Grey market premium for IRCON International IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the IRCON International IPO full review for a fundamentals-based assessment before making any grey market trades.
IRCON International IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for IRCON International IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About IRCON International IPO
IRCON International Limited was incorporated in 1976 and is a Delhi based government company under the Ministry of Railways. Its promoter is the President of India.
It works in engineering and construction, specialising in major infrastructure projects.
Its projects include highways, railways, bridges, flyovers, electrical and mechanical works, and commercial, residential and industrial developments.
The IPO was Rs 466.93 crore and was entirely an offer for sale by the Government of India at Rs 475, the top of the Rs 470 to Rs 475 band, so the company received no money.
Frequently asked
What is the GMP of IRCON International IPO?
The current Grey Market Premium (GMP) of IRCON International IPO is ₹ 9.
What is the Kostak Price of IRCON International IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for IRCON International IPO is not available.
What is the Subject to Sauda Price of IRCON International IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of IRCON International IPO?
IRCON International IPO listed on September 28, 2018 at ₹412, against the issue price of ₹475 — a loss of -13.26%.
How did the GMP of IRCON International IPO trend before listing?
The GMP of IRCON International IPO was stable in its final days before listing. The GMP peaked at ₹97.5 on 11 September 2018. View the day-wise table above for the complete GMP history.
Explore IRCON International IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
