Sebi to start pre-listing trading in IPO to curb grey market activity: Buch

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Sebi to start pre-listing trading in IPO to curb grey market activity: Buch - Business Standard

Quick Summary:

Sebi is looking at introducing a system where an investor can sell shares as soon as they are allotted in an Initial Public Offering (IPO) to curb grey market activity, chairperson Madhabi Puri Buch said on Tuesday.

It can be noted that many IPOs in the recent past have seen very high subscriptions, and many of the issuances have also made huge listing-day gains which result in the grey market activity of passing on allotted shares.

Buch, an i-banker turned markets regulator, reminisced that during her banking days, this grey market activity used to be called "curb trading".