<p> With quite a number of large-sizeinitial public offerings (IPOs) set to open for subscription during the next fortnight, the unofficial market -- popularly known as grey market -- for these issues will become active.<br /><br /></p>.<p>Market pundits tracking this ‘informal’ market aver that the volumes this time may not be as big as those witnessed during the bull-run of 2007-08, nevertheless they are a considerable improvement from the levels seen last year.<br /><br />Shares of CARE are quoting at a premium of Rs 170 per share as against the official price band of Rs 700-750, while PC Jewellers (price band: Rs 125-135) are quoting at a premium of Rs 24, said a grey market operator responding to a query. <br /><br />In recent times, only the Coal India IPO made some good business in the grey market, whose share price remained above the issue price level even during the financial crisis.<br />Even now, grey market trades are conducted purely on faith, with the verbal transactions entered into the system once shares are credited in the demat system.<br /><br /></p>
<p> With quite a number of large-sizeinitial public offerings (IPOs) set to open for subscription during the next fortnight, the unofficial market -- popularly known as grey market -- for these issues will become active.<br /><br /></p>.<p>Market pundits tracking this ‘informal’ market aver that the volumes this time may not be as big as those witnessed during the bull-run of 2007-08, nevertheless they are a considerable improvement from the levels seen last year.<br /><br />Shares of CARE are quoting at a premium of Rs 170 per share as against the official price band of Rs 700-750, while PC Jewellers (price band: Rs 125-135) are quoting at a premium of Rs 24, said a grey market operator responding to a query. <br /><br />In recent times, only the Coal India IPO made some good business in the grey market, whose share price remained above the issue price level even during the financial crisis.<br />Even now, grey market trades are conducted purely on faith, with the verbal transactions entered into the system once shares are credited in the demat system.<br /><br /></p>
