IPO GMP, Feb. 14 -- The typical excitement surrounding IPOs appears to have waned this week, with the Indian stock market facing notable selling pressure arising from concerns over elevated valuations, market fluctuations, and uncertainties in the global economy, significantly affecting the primary market. This week saw the launch of the Ajax Engineering IPO, Hexaware Technologies IPO, and Quality Power Electrical Equipments IPO, and experts believe that the investors' response was influenced by various factors, including the Offer for Sale (OFS) factor, considerable losses in the secondary market, and a lack of comfort in the grey market.

Regarding the issues, the initial public offering of concrete equipment manufacturer Ajax Engineeri...