Actually during pre open session it shows that way, bids and offers will be reversed, you can see the same on any trading day between 9 to 9.07 also.
** correction –
Buyers want to buy at any price and sellers want to sell at any price, any way the trade only happen at equilibrium price, so you can see more buyers are there so likely trade will happen at upper end only.
They are just indicative, you can know more here about pre open.
Also on listing day preopen will be from 9 to 9.45 am.
Yes It is pre open IPO auction system. You can place your orders between 9:00-9:45 and here there is no real trading, this gives Indicative Equilibrium Price (IEP) for listing there are primarily 25% circuit on on down side and 75% upper circuit it is modified according to IEP that is every 10% . In the case of clean Science and Technology IPO issue price was rupees 900 so now in the pre IPO auction the buyers and sellers can place only limit order now the buying orders can be placed 75% premium above the issue price so here 900 + 75% that is 1575 so you can put by order up to 1575 similarly the primary downside circuit is 25% so issue price -25% which equals to 675 rupees the circuits are changed by the exchange with respect to the demand and supply.
The people want to exit from the IPO stock on the listing day can put the sell order at the lower circuit range similarly the person who want to buy the stock can please the order at the upper circuit it does not means that when the stock is listed your order will be executed at the price you have entered in the pre open IPO session. The exchange has its own trading system which determines the IEP by demand supply that is buy and sell orders the indicated equilibrium price shown at 944 on 9:45 hours is the final listing price and the all orders from 9:00 to 9:44/45 are carried out at the listing price only
Now current example
Clean Science and Technology IPO
Issue price was 900
If the buyer want to buy the stock at the listing price have to put the order at the upper circuit or above IEP.
Similarly if your seller want to sell the stock at the listing price have to put the order at the lower circuit or below IEP
It is a pre open auction where the buyers and sellers bid
Now here is the gimmick the the buyers can put buy orders at any price between 675 and 1845 if the order price is Greater or equal to IEP then your order is executed at the listing price and if your order is below the IEP then it remains pending
Now similarly sellers can put the sell order at any price between 675 and 1845 if the order is placed lower aur equal to IEP then then your sell order is executed at the listing price but if your cell order is greater than IEP then it remains pending
Now coming to screenshot
The buyers were willing to buy the stock at 1845 and the sellers wishing to sell the stock at 675 now here IEP was 1755 so at 9:45 those who have put the orders at the lower or upper circuit are executed order listing price only even if the sellers were willing to sell the stock at 675 the stock is sold at the listing price only similarly when the buyers were willing to buy at 1845 the the stock is bought at the listing price @nithin please validate it