Rentomojo IPO listing: 72.88x subscription, ₹86 GMP — what investors should know

Ahead of listing, Rentomojo shares are commanding a premium of ₹86 per share in the grey market, implying a premium of around 21% over the issue price of ₹404. However, grey market premium (GMP) rates are speculative and are not an indicator of the actual listing price. The stock can list at a price different from the level implied by the GMP.