The public issue worth ₹18,300 crore was received ‘not so encouraging’ response from the bidders and that having its impact on the grey market as well.
They said that on yesterday morning, Paytm IPO grey market price was ₹55 and it went down to ₹30 as there wasn’t much improvement in the response from bidders in regard to the public issue.
Market observers maintained that grey market premium reflects listing gain expected by the grey market.
However, stock market experts maintained that grey market is not the only criteria to guess about the listing gain in regard to a particular public issue.