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Grey market premiums cool for Groww, PhysicsWallah, and Pine Labs as tech IPO appetite wanes
Grey market premiums for Groww, PhysicsWallah, and Pine Labs declined sharply, indicating waning short-term appetite for new-age tech IPOs.
Investor enthusiasm for new-age tech IPOs appears to be moderating as grey market premiums (GMPs) for Groww, PhysicsWallah, and Pine Labs slipped sharply this week. Groww’s GMP fell to ₹12 from ₹35, while PhysicsWallah’s premium dropped to ₹18. Pine Labs’ unlisted shares remained flat amid cautious secondary sentiment. Market analysts attribute the cooling to profit-taking post major digital IPOs and investor preference shifting toward traditional sectors. Despite reduced speculative activity, long-term demand for scalable fintech and edtech firms is expected to sustain institutional allocations.