Stock market crash dampens IPO buzz as GMPs of Ola Electric, Firstcry fall

Allaying frayed nerves, analysts say the sell off is more of a short-term volatility and it does not indicate any long-term panic mode set in the Indian equities. The primary market is taking a hit in terms of IPO demands. Ola Electric’s GMP has fallen to Rs 10, compared with Rs 15 a few days ago. At the current GMP, the stock is expected to list at a premium of 13% to the issue price.