The grey market premium for the shares stood at Rs 309 as of 3:59 p.m. on Monday, according to the website Investor Gain. This takes the estimated listing price to Rs 789, which is 64.3% higher than the upper end of the IPO price band of Rs 480. However, GMP is not an official price quote for the stock and is based on speculation.

Pune-based PN Gadgil sold its IPO in the price band of Rs 458-480 per share with a lot size of 31 shares, which was open for bidding between September 10 and September 12.

The IPO of Bajaj Housing Finance was open for bidding between September 9-11, which offered its shares in the price band of Rs 66-70 per share with a lot size of 214 shares.Bajaj Housing Finance shares listing bonanza: Shares debut at 114% premium over IPO price;

Operating 39 stores—38 in Maharashtra and Goa and one in the US—PNG has established a strong brand presence and is strategically expanding into underserved Tier I and Tier II cities.

The Maharashtra-based jewellery retail chain saw a strong listing on the Bombay Stock Exchange (BSE), where its shares opened at Rs 834, marking a 73.75% premium.

The shares of PN Gadgil Jewellers will be listed on the exchanges on Tuesday, September 17. The company's shares are trading with a GMP of nearly 63% over the issue price, just a day before the listing.