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The grey market premium (GMP) of two heavyweight initial public offerings (IPOs) of recent times — Lenskart Solutions and Groww — has seen a sharp dip following the closure of their subscription windows. The decline reflects the prevailing market sentiment, where most public issues have struggled to sustain momentum post-listing, barring a few exceptions like LG Electronics.

GMPs of both Lenskart and Groww have dropped nearly 75 per cent from their record highs.

GMP is driven by market sentiment and is subject to constant change. The ‘grey market premium’ essentially indicates investors’ willingness to pay more than the issue price of a stock.

Despite the volatility in GMPs, investors actively participated in both IPOs, leading to oversubscription during the thr

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