How IPO listing gains are calculated

• Price band: the range within which investors bid, for example ₹140–₹150.
• Issue price: the final price at which shares are allotted, usually the upper end of the band.
• Listing price: the opening price of the share on its first trading day, set in the exchange's pre-open session. IPONexa takes it from the official end-of-day price files published by NSE and BSE.

Before listing (estimate):

• Estimated listing price = issue price (or the upper price band if not yet final) + GMP
• Estimated gain per share = GMP
• Estimated gain per lot = GMP × shares per lot

After listing (actual result):

• Listing gain per share = listing price − issue price
• Listing gain per lot = listing gain per share × shares per lot
• Listing gain % = listing gain per share ÷ issue price × 100

Example with made-up numbers: issue price ₹150, 100 shares per lot. If the GMP was ₹40, the estimated gain per lot was ₹4,000. If the share then opened at ₹186, the actual listing gain is ₹36 per share, ₹3,600 per lot, or 24%.

• You may not get shares at all. In oversubscribed IPOs most applicants receive nothing.
• You may sell at a different price. The listing price is only the opening price; the share can move sharply during the first minutes and days of trading.
• Charges. Selling involves brokerage, securities transaction tax (STT), exchange and SEBI fees, GST and demat (DP) charges. They are small on a single lot but not zero.
• Tax. Gains on listed shares sold within 12 months are short-term capital gains. For transfers on or after 23 July 2024 these are taxed at 20% (plus applicable surcharge and cess). Tax rules change; check the current rules or ask a tax adviser for your situation.

Where an estimate uses the upper price band instead of the final issue price, the IPO page says so. All figures exclude brokerage, taxes and charges. Estimates are indicative only and are not a prediction or a promise of any return.