At a glance:
2025 is off to a sizzling start in IPO land. From Indian SME over-subscription frenzies to billion-dollar tech unicorns in the US and Europe, everyone’s rushing to “go public” before the next Fed rate hike slaps valuations back to 2020 levels. But the real question is — are these IPOs worth the GMP hype or just another pump-and-dump scheme in a three-piece suit?
We decoded the biggest IPOs across geographies — and their grey market premiums — so you don’t have to sell your kidney just to buy in early.
đź’¸ IPOs You Should Pretend You Understood in 2025
1. GPT Technologies (US)
- Sector: AI & Enterprise SaaS
- IPO Size: $1.2 Billion
- Valuation: $16 Billion
- Listing: NASDAQ
- Grey Market Premium (Unofficial): 22–28%
What they do: Basically, they sell “ChatGPT for CFOs” — and now every Excel-addicted finance bro is buying licenses like it’s a crypto bull run.
EduInvesting Take: If you had FOMO in 2023 for not buying Nvidia, GPT Tech is your second chance… or your second heartbreak.
2. Balaji Micro Circuits Ltd (India – SME)
- IPO Size: â‚ą52 Crore
- Subscription: 367x Retail. No, that’s not a typo.
- Grey Market Premium: â‚ą155 on â‚ą100 issue price
What they do: They make PCB boards and semiconductors and say “Made in India” loud enough to get 60% GMP without doing anything else.
EduInvesting Take: Probably won’t change the semiconductor game — but might change your bike to a KTM if you get listing gains.
3. Zillex Biopharma (EU – Germany)
- IPO Size: €220 Million
- Valuation: €1.5 Billion
- Grey Market Premium: 8–10% (Berlin pre-IPO desk chatter)
What they do: mRNA meets skincare meets ‘trust me bro’ science.
EduInvesting Take: If Theranos had a European cousin that didn’t lie but just overpromised,
