The IPO Grey Market is an over-the-counter market where dealers may execute orders for preferred customers as well as provide support for a new issue before it is actually issued. (investopedia)
Grey markets(GreyMarket) work in two ways in India. It decide the premium of an IPO (Also known as Grey Market Premium or GMP), which is not yet listed in Stock Exchange and it also allows investors to sell there application or allocated stocks at certain premium before they list. This page provides platform to discuss Grey Market Premiums.
For more information about IPO Grey Market in India Stock Market visit IPO Grey Market FAQs.