{"id":86137,"date":"2026-05-13T10:16:06","date_gmt":"2026-05-13T04:46:06","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=86137"},"modified":"2026-05-13T10:16:07","modified_gmt":"2026-05-13T04:46:07","slug":"goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/","title":{"rendered":"Goldline Pharmaceutical IPO GMP Day 2 13 May 2026: Grey Market Holds at Rs 17, Subscription Picks Up as Issue Closes Tomorrow"},"content":{"rendered":"<p><strong>The Goldline Pharmaceutical IPO<\/strong> is on Day 2 of its subscription window on 13 May 2026 with the grey market premium (GMP) holding firm at Rs 16 to Rs 17 per share, implying an expected listing price of approximately Rs 59 to Rs 60 against the upper issue price of Rs 43, a 37 to 40 percent listing premium. Day 1 saw early subscription build-up as retail investors began placing bids, but the bulk of institutional participation from QIBs (allocated 50 percent) is typically concentrated on Day 3. The Goldline Pharmaceutical IPO closes tomorrow, 14 May 2026.<\/p><p>The sustained GMP of Rs 16 to Rs 17 across multiple days (from 11 May through today 13 May) is one of the most stable and consistent grey market premiums among all currently open SME IPOs, signalling genuine grey market conviction in the Nagpur-based pharma marketing company. For context, RFBL Flexi Pack, which opened on the same day, has a GMP of Rs 0 versus Goldline Pharma&#8217;s Rs 17, making Goldline the standout grey market story in the current SME IPO cycle.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Goldline_Pharmaceutical_IPO_Key_Details_on_Day_2\" title=\"Goldline Pharmaceutical IPO Key Details on Day 2\">Goldline Pharmaceutical IPO Key Details on Day 2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Why_Goldline_Pharmaceutical_IPO_GMP_Has_Stayed_at_Rs_16-17\" title=\"Why Goldline Pharmaceutical IPO GMP Has Stayed at Rs 16-17\">Why Goldline Pharmaceutical IPO GMP Has Stayed at Rs 16-17<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Highest_GMP_Among_All_Currently_Open_SME_IPOs\" title=\"Highest GMP Among All Currently Open SME IPOs\">Highest GMP Among All Currently Open SME IPOs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Fair_Valuation_at_1048x_PE_Supports_the_Premium\" title=\"Fair Valuation at 10.48x PE Supports the Premium\">Fair Valuation at 10.48x PE Supports the Premium<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#What_Day_2_Subscription_Looks_Like_for_Goldline_Pharmaceutical_IPO\" title=\"What Day 2 Subscription Looks Like for Goldline Pharmaceutical IPO\">What Day 2 Subscription Looks Like for Goldline Pharmaceutical IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Should_You_Apply_for_Goldline_Pharmaceutical_IPO_on_Day_2\" title=\"Should You Apply for Goldline Pharmaceutical IPO on Day 2\">Should You Apply for Goldline Pharmaceutical IPO on Day 2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#FAQs_on_Goldline_Pharmaceutical_IPO_Day_2\" title=\"FAQs on Goldline Pharmaceutical IPO Day 2\">FAQs on Goldline Pharmaceutical IPO Day 2<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#What_is_the_Goldline_Pharmaceutical_IPO_GMP_on_Day_2_13_May_2026\" title=\"What is the Goldline Pharmaceutical IPO GMP on Day 2, 13 May 2026?\">What is the Goldline Pharmaceutical IPO GMP on Day 2, 13 May 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#When_does_the_Goldline_Pharmaceutical_IPO_close\" title=\"When does the Goldline Pharmaceutical IPO close?\">When does the Goldline Pharmaceutical IPO close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#Why_is_Goldline_Pharma_GMP_higher_than_RFBL_Flexi_Pack\" title=\"Why is Goldline Pharma GMP higher than RFBL Flexi Pack?\">Why is Goldline Pharma GMP higher than RFBL Flexi Pack?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/goldline-pharmaceutical-ipo-gmp-day-2-may-13-2026\/#How_can_I_check_Goldline_Pharmaceutical_IPO_allotment_status\" title=\"How can I check Goldline Pharmaceutical IPO allotment status?\">How can I check Goldline Pharmaceutical IPO allotment status?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Goldline_Pharmaceutical_IPO_Key_Details_on_Day_2\"><\/span><strong>Goldline Pharmaceutical IPO Key Details on Day 2<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><ul class=\"wp-block-list\"><li><strong>Exchange: <\/strong>BSE SME<\/li>\n\n<li><strong>Issue Opens: <\/strong>12 May 2026<\/li>\n\n<li><strong>Issue Closes: <\/strong>14 May 2026 (tomorrow, LAST CHANCE to apply)<\/li>\n\n<li><strong>Allotment Date: <\/strong>15 May 2026<\/li>\n\n<li><strong>Credit of Shares: <\/strong>18 May 2026<\/li>\n\n<li><strong>Listing Date: <\/strong>19 May 2026<\/li>\n\n<li><strong>Price Band: <\/strong>Rs 41 to Rs 43 per share<\/li>\n\n<li><strong>Issue Size: <\/strong>Rs 11.61 crore (100% fresh issue, 27 lakh shares)<\/li>\n\n<li><strong>Lot Size: <\/strong>3,000 shares<\/li>\n\n<li><strong>Minimum Retail Application: <\/strong>2 lots (6,000 shares) at Rs 2,58,000<\/li>\n\n<li><strong>Category Split: <\/strong>QIB 50%, Retail 35%, NII 15%<\/li>\n\n<li><strong>GMP on Day 2 (13 May 2026): <\/strong>Rs 16 to Rs 17 (37 to 40% implied listing premium)<\/li>\n\n<li><strong>Implied Listing Price (GMP basis): <\/strong>Approximately Rs 59 to Rs 60<\/li>\n\n<li><strong>PE at Issue Price: <\/strong>10.48 times at Rs 43 upper band<\/li>\n\n<li><strong>Lead Manager: <\/strong>Cumulative Capital Pvt Ltd<\/li>\n\n<li><strong>Registrar: <\/strong>Bigshare Services Pvt Ltd<\/li>\n\n<li><strong>Market Maker: <\/strong>Nirman Share Brokers<\/li><\/ul><p>Track live Goldline Pharmaceutical IPO subscription on the <a href=\"https:\/\/univest.in\/screeners\">Check the Univest Screener for live data<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Goldline_Pharmaceutical_IPO_GMP_Has_Stayed_at_Rs_16-17\"><\/span><strong>Why Goldline Pharmaceutical IPO GMP Has Stayed at Rs 16-17<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Highest_GMP_Among_All_Currently_Open_SME_IPOs\"><\/span><strong>Highest GMP Among All Currently Open SME IPOs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The Goldline Pharmaceutical IPO GMP of Rs 16 to Rs 17 has been one of the most consistently elevated grey market premiums of the current SME IPO cycle. Sources including Investorgain and IPO Guru tracked GMP at Rs 16 to Rs 17 from 11 May through 13 May, a level of stability that is unusual and constructive. Most SME IPO GMPs fluctuate sharply with broader market sentiment. Goldline&#8217;s GMP holding despite Sensex falling 1,312 points on 11 May is a noteworthy sign of underlying grey market conviction.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fair_Valuation_at_1048x_PE_Supports_the_Premium\"><\/span><strong>Fair Valuation at 10.48x PE Supports the Premium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The Goldline Pharmaceutical IPO is priced at 10.48 times FY25 earnings at the Rs 43 upper band. Industry P\/E for comparable pharmaceutical marketing companies ranges from 13 to 15 times. This discount to industry valuation means that investors are getting a pharma marketing business at a meaningful PE discount, which underpins the GMP premium. The company&#8217;s FY25 revenue of Rs 28.06 crore grew 19 percent year-on-year and PAT grew 56 percent to Rs 2.83 crore with ROE at 27.34 percent.<\/p><p><a href=\"https:\/\/univest.in\/user\/log-in\"><strong>Tap to Access Best Research Pieces on Univest<\/strong><\/a><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Day_2_Subscription_Looks_Like_for_Goldline_Pharmaceutical_IPO\"><\/span><strong>What Day 2 Subscription Looks Like for Goldline Pharmaceutical IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Day 2 for SME IPOs like Goldline Pharmaceutical typically sees the NII (HNI) category begin to fill up as high-net-worth individuals assess Day 1 data. The QIB category, allocated 50 percent of the Goldline Pharmaceutical IPO (an unusually large QIB allocation for an SME), typically moves on Day 3. If QIBs show meaningful subscription by closing on 14 May, the overall book could be oversubscribed meaningfully, which would validate the Rs 17 GMP.<\/p><p>One independent analyst on IPO Watch flagged the large 50 percent QIB allocation as unusual for an SME IPO, noting it could affect retail allotment dynamics. Retail applicants get 35 percent of the issue. When retail subscription is below 1x, every applicant gets full allotment without a lottery. If it crosses 1x, a computerised lottery applies.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Should_You_Apply_for_Goldline_Pharmaceutical_IPO_on_Day_2\"><\/span><strong>Should You Apply for Goldline Pharmaceutical IPO on Day 2<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The Goldline Pharmaceutical IPO offers the highest GMP among all currently open SME IPOs at Rs 16 to Rs 17, fair PE valuation at 10.48 times and a 19 percent revenue CAGR over the past two years. For short-term investors, the GMP-implied 37 to 40 percent listing gain is attractive if it holds through the listing on 19 May.<\/p><p>Key risks to weigh: 22 percent of company revenue comes from promoter-related entities (related-party dependency), geographic concentration in Maharashtra (44 percent of revenue), no owned manufacturing facility and small revenue scale at Rs 28 crore. Tomorrow is the last day to apply. Consult a SEBI-registered advisor before acting on the Goldline Pharmaceutical IPO.<\/p><p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or the <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get daily stock recommendations and insightful research pieces on Goldline Pharmaceutical IPO live updates, GMP and BSE SME IPO calendar!<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><strong>The Goldline Pharmaceutical IPO<\/strong> on Day 2 (13 May 2026) holds the strongest GMP among all open SME IPOs at Rs 16 to Rs 17, implying a 37 to 40 percent listing premium over the Rs 43 issue price. The nil GMP on RFBL Flexi Pack versus Rs 17 GMP on Goldline Pharma highlights the stark grey market divergence between the two co-opening SME IPOs. The issue closes tomorrow 14 May 2026. Track live subscription data and the final Day 3 QIB numbers on Univest before making your application decision.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_on_Goldline_Pharmaceutical_IPO_Day_2\"><\/span><strong>FAQs on Goldline Pharmaceutical IPO Day 2<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Goldline_Pharmaceutical_IPO_GMP_on_Day_2_13_May_2026\"><\/span><strong>What is the Goldline Pharmaceutical IPO GMP on Day 2, 13 May 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>The Goldline Pharmaceutical IPO GMP on Day 2 stands at Rs 16 to Rs 17 per share, implying an expected listing price of Rs 59 to Rs 60 against the upper band of Rs 43. This represents a 37 to 40 percent potential listing premium, the highest GMP among all currently open SME IPOs. GMP is unofficial and can change before the 19 May listing.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_does_the_Goldline_Pharmaceutical_IPO_close\"><\/span><strong>When does the Goldline Pharmaceutical IPO close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>The Goldline Pharmaceutical IPO closes tomorrow, 14 May 2026, at 5 PM. Allotment is on 15 May, shares are credited on 18 May and listing on BSE SME is expected on 19 May 2026. This is the last day to apply for retail and HNI investors.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_is_Goldline_Pharma_GMP_higher_than_RFBL_Flexi_Pack\"><\/span><strong>Why is Goldline Pharma GMP higher than RFBL Flexi Pack?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>The Goldline Pharmaceutical IPO GMP is Rs 17 versus Rs 0 for RFBL Flexi Pack because of different grey market assessments of the two companies. Goldline&#8217;s 10.48x PE is at a steeper discount to industry versus RFBL&#8217;s 9.74x, its ROE of 27.34 percent is stronger and the pharma marketing sector has consistently attracted higher grey market interest than flexible packaging. Both issues close on 14 May.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_can_I_check_Goldline_Pharmaceutical_IPO_allotment_status\"><\/span><strong>How can I check Goldline Pharmaceutical IPO allotment status?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Goldline Pharmaceutical IPO allotment status will be available on the Bigshare Services Pvt Ltd registrar website from 15 May 2026. Check using your PAN number, application number or DP ID on the registrar portal or directly on the BSE website.<\/p>","protected":false},"excerpt":{"rendered":"<p>The Goldline Pharmaceutical IPO is on Day 2 of its subscription window on 13 May 2026 with the grey market premium (GMP) holding firm at Rs 16 to Rs 17 per share, implying an expected listing price of approximately Rs 59 to Rs 60 against the upper issue price of Rs 43, a 37 to<\/p>\n","protected":false},"author":28,"featured_media":86140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[1352],"class_list":["post-86137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-ipo-gmp"],"metadata":{"_edit_lock":["1778647570:28"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["1281"],"rank_math_seo_score":["64"],"rank_math_description":["Goldline Pharmaceutical IPO GMP Day 2 on 13 May 2026 holds at Rs 16-17 (37-40% premium). BSE SME IPO closes 14 May. Price band Rs 41-43, listing 19 May. 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