Powergrid Grey Market

I am making project on the topic Powergrid and came to know about the term Powergrid Grey Market want to know details about this. Will you tell me what the meaning of Powergrid Grey Market and tell me all other details related to Powergrid Grey Market?

[Kiran Chandar]

About Powergrid Grey Market:

The buzz surrounding the follow-on public issue of state-owned Power Grid Corporation has revived activity in the grey market.

Live Market of Powergrid:

BSE 131.452.65 (2.06%)
NSE 131.652.70 (2.09%)

Grey market operators have worked out the rates on expectations the stock would trade at least above Rs 92 after the follow-on offer.

With the listing date of Power Grid IPO nearing, the activity in the power gird counter in the grey market is seeing a huge rise.

The Power Grid IPO Grey Market Premium in the IPO grey market of Ahmedabad is Rs. 50 per share.

On the Delhi grey market, Power Grid IPO is quoting a premium of Rs. 54 per share.

About 27.4 million of the 78.4 million shares on offer have been set aside for retail investors.

The grey market rate depends on the size of the application; a retail investor who applies for a maximum of 2,100 shares is getting as much as Rs 6000 for ‘selling’ the application form to the operator.