S.A.L. Steel IPO GMP History
S.A.L. Steel IPO has been listed on November 24, 2004 at a listing price of ₹20, against the issue price of ₹14 — a gain of ₹6 (+42.86%). The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
S.A.L. Steel IPO raised ₹58.8 Cr. through its IPO at a price band of ₹12 to ₹14 per share, with a lot size of 500 shares. The IPO was open for subscription from 01 Nov 2004 to 05 Nov 2004.
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, 8:58 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| No GMP history available yet. | |||||
S.A.L. Steel IPO dates
Key dates from opening to listing. Today is 12 November.
- Open 01 Nov 2004
- Close 05 Nov 2004
- Allotment 18 Nov 2004
- Refund/credit TBA
- Listing 24 Nov 2004
S.A.L. Steel IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹14 |
|---|---|
| Listing gain / loss | +₹6 per share |
| Listing date | 24 Nov, 2004 |
| Actual listing price | ₹20 (+42.86%) |
Is S.A.L. Steel IPO GMP reliable?
Grey market premium for S.A.L. Steel 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 S.A.L. Steel IPO full review for a fundamentals-based assessment before making any grey market trades.
S.A.L. Steel IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for S.A.L. Steel 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 S.A.L. Steel IPO
S.A.L. Steel Limited was formerly S.A.L. Steel Private Limited and was incorporated less than a year before its IPO. Its promoters are Shah Alloys Limited, Rajendra V. Shah, Rajendra V. Shah (HUF) and Ragini R. Shah.
It was set up to build a new plant at village Bharapar, Gandhidham taluka, Kutch district, Gujarat, to make sponge iron, ferro alloys and rolling mill products, with a 40 MW captive power plant.
Phase I of the project covered the sponge iron plant, rolling mill capacity and the ferro alloys plant. The promoters brought in Rs 5155.00 lakh as share capital and premium.
The IPO was Rs 58.8 crore and was entirely a fresh issue at Rs 14, the top of the Rs 12 to Rs 14 band, with a face value of Rs 10. The money was for the project.
Frequently asked
What is the GMP of S.A.L. Steel IPO?
The current Grey Market Premium (GMP) of S.A.L. Steel IPO is not yet started or active in the market.
What is the Kostak Price of S.A.L. Steel IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for S.A.L. Steel IPO is not available.
What is the Subject to Sauda Price of S.A.L. Steel 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 S.A.L. Steel IPO?
S.A.L. Steel IPO listed on November 24, 2004 at ₹20, against the issue price of ₹14 — a gain of +42.86%.
How did the GMP of S.A.L. Steel IPO trend before listing?
The GMP of S.A.L. Steel IPO was stable in its final days before listing. View the day-wise table above for the complete GMP history.
Explore S.A.L. Steel 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.
