Investors will start trading in four new companies – Hexaware Technologies, Voler Car, PS Raj Steels, and Maxvolt Energy Industries – effective February 19. But there seems to be less excitement with respect to their debuts considering all trading at subdued to moderate premium in the grey market premium. This was following not-so-robust subscription numbers reported by these IPOs last week. Experts say the entire offer-for-sale component along with weakness in IT sector since the mid of December 2024 and subdued market conditions may be the reasons behind lack of interest in Hexaware from grey market investors. The Nifty IT index was down 12 percent since the record high hit in mid-December 2024, while the benchmark Nifty 50 plunged 13.5 percent from its all-time high seen at the end of September 2024. The subdued response in thegrey market could indicate that investors prioritise stability over abstract gains, making them more careful in their IPO participation, he said. The absence of GMP suggests a cautious sentiment among investors due to broader market volatility and uncertainty. A changing market situation often makes investors wary, leading to lower GMP as they adopt a wait-and-watch approach, Abhishek Pandya, Research Analyst at StoxBox said.
