Experts note that most grey market activity for IPOs occurs before the issue is launched. IPOs with higher grey market premiums often see strong subscription numbers, making GMP a key factor for investors.

Speaking at an event organised by the Association of Investment Bankers of India (AIBI), Buch said discussions were underway with the two stock exchanges to put in place a 'when listed' platform where

The Securities and Exchange Board of India is considering allowing ’when-listed’ securities to trade on stock exchanges, as investors seek opportunities during the IPO listing process.

In a move to bring transparency and regulation to India’s capital markets, the Securities and Exchange Board of India (SEBI) is exploring the concept of 'when-listed' securities trading. This initiative would allow IPO allottees to trade shares during the three-day gap between the close of an IPO and its official listing,

India’s securities market regulator is considering steps to formalize trading in initial public offerings where bidding has closed, but the shares are yet to be listed.

SEBI is working on introducing a new system that allows trading in shares of companies that are in the process of listing.

When-listed' securities refer to those securities that are available for trading between the close of a company’s IPO and before its listing

Markets regulator, the Securities and Exchange Board of India, is actively looking at allowing 'when-listed' securities to trade on the country's stock exchanges, Chairperson Madhabi Puri Buch said on Tuesday.