New Delhi, Dec. 8 -- Of the 98 listed companies on the mainboard this year, 47 are currently trading below their initial public offering (IPO) prices. Leading the decline is Gem Aromatics, which has dropped more than 55%, followed by Glottis, VMS TMT, Arisinfra Solutions, BMW Ventures, Jaro Institute, and another 41 companies. While the number of IPOs remains steady, the performance after listing appears to be disappointing.

Considering the trend, a question that comes to mind is whether investors are purchasing shares based on the grey market and if they are observing high oversubscription figures.

Experts suggest that this indicates a clear softening trend in India's primary market sentiment. The significant post-listing drops, rangin...