Ola Electric Mobility Limited IPO Message Board (Page 8)

Those who want to get rid at open price, they put an order at lowest bid, which is 22.80. Similarly those who want to buy irrespective of open price they bid highest price which is 152. This is how preopen works for any stock.
Higher Buy bids at equilibrium price is what increases the price , its a cycle. Equilibrium price determination is difficult to understand as most times their are fake orders which gets cancelled just before close of pre open.

​@UjwalG But doesn't common sense say that they should put orders near listing price so that they can exit at higher prices.

Some grey market rules maybe, right?

same question for me, seniors please help.