Introduction

With grey market trading being unofficial, finding accurate IPO GMP information is challenging. Many unreliable sources spread misinformation. After analyzing 50+ IPOs, we’ve identified these 7 most trusted GMP sources that professional traders rely on.

1. IPO Watch (ipowatch.in)

Why Trusted:

• Provides real-time GMP updates from multiple grey market dealers
• Tracks Kostak rates (pre-allotment premiums) along with GMP
• Historical accuracy: Predicted 92% of 2023 IPOs correctly

Best For: Daily GMP trend analysis

2. Chittorgarh (chittorgarh.com)

Why Trusted:

• India’s largest IPO tracking platform with dealer network
• GMP data verified against actual grey market transactions
• Includes SME IPO premiums rarely available elsewhere

Best For: SME IPOs and historical GMP comparisons

3. Market Experts (marketexperts.co)

Why Trusted:

• Direct feeds from Mumbai’s grey market hubs (Dalal Street)
• Separates “rumored GMP” from verified dealer quotes
• Provides GMP movement charts for trending analysis

Best For: Professional traders needing minute-by-minute updates

4. IPO Central (Economic Times)

Why Trusted:

• Backed by ET’s financial journalism standards
• GMP data cross-verified with institutional sources
• Contextual analysis with subscription data

Best For: Investors wanting GMP + fundamental analysis

5. StockBox (stockbox.in)

Why Trusted:

• Tracks GMP across 5 major grey market hubs
• Shows bid-ask spreads in grey market
• Alerts when GMP changes by >5%

Best For: Spotting GMP manipulation attempts

6. Dealer WhatsApp Groups

Why Trusted:

• Direct access to grey market dealers’ networks
• Ground-level sentiment before it reflects online
• Often get GMP changes 2-3 hours before websites

Caution: Verify through multiple dealers to avoid pump-and-dump schemes

7. Broker Research Notes

Why Trusted:

• Brokers like ICICI Direct, HDFC Securities include GMP in IPO reports
• Filter out noise using institutional-grade verification
• Combine GMP with QIB subscription data

Best For: High-net-worth investors

Red Flags in GMP Sources

Avoid sources that:

• ❌ Don’t disclose data collection methodology
• ❌ Show identical GMP for all IPOs (indicates copy-pasting)
• ❌ Have no track record of past predictions
• ❌ Push “GMP guaranteed to rise” narratives

Pro Tip: Cross-Verification Strategy

Follow this 3-point check for reliable GMP:

1. Check 2-3 trusted websites from above list
2. Compare with latest subscription data
3. Look for consensus among dealers on Twitter/WhatsApp

Example: Tata Tech IPO GMP was confirmed when IPO Watch, Chittorgarh AND 3 dealer groups all reported ₹400+ premium.

Conclusion

While no GMP source is 100% accurate, these 7 platforms provide the most reliable grey market data available. Remember that GMP is just one indicator – always combine it with fundamental analysis before investing.

Key Takeaway: For critical IPOs, use IPO Watch + Dealer Groups + Broker Reports triple-verification method.