Grey market punters already trading on planned unicorn IPOs

Punters in the unofficial grey market are being choosy about trading in the unlisted shares of IPO-bound new-age businesses. Online beauty and wellness retailer Nykaa and PB Fintech – operator of insurance marketplace platform Policybazaar, which are yet to receive the Securities and Exchange Board of India’s (Sebi) approval to launch IPOs, are seeing a pick-up in activity in the grey market.