Grover Jewells IPO Day 2: Subscription Picks Up, GMP Edges Higher

On Thursday, 5 February 2026, the Grover Jewells Ltd SME IPO saw improved investor interest on its second day of bidding, with modest grey market activity signaling mild listing expectations.

Day 2 Subscription Status
• The IPO was subscribed ~1.36 times overall as of Day 2.
• Retail investors contributed robust demand (~1.57 times).
• Non-institutional investors (NIIs) showed strong participation (~2.69 times).
• Qualified Institutional Investors (QIIs) reported no bids so far.

Grey Market Premium (GMP)
• As of 5 February 2026, the IPO’s GMP stood at ₹2.50 per share, suggesting an estimated listing price of ₹90.50 and a potential listing gain of ~2.84% above the upper price band.

Issue Overview & Key Facts
The Grover Jewells IPO opened on 4 February 2026 and runs through 6 February 2026 on the NSE-SME platform, priced between ₹83 and ₹88 per share, with a face value of ₹10. • Minimum retail lot: 2 lots = 3,200 shares (~₹2,81,600 at upper band).
• Entire issue size: ~38.44 lakh shares (~₹33.83 crore).
• The IPO is scheduled to list on 11 February 2026 after allotment on 9 February 2026.

What This Means for Investors
The Day 2 subscription figures indicate steady retail and NII interest, while the absence of QII bids suggests room for further institutional demand before the IPO closes. The current GMP of ₹2.50 per share points to modest grey market optimism, but grey market indicators can fluctuate and do not guarantee actual listing prices.

Investors following the Grover Jewells IPO will now watch final subscription trends through 6 February 2026 and market sentiment ahead of the expected listing on NSE SME.