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Over the last few years, primordial black holes (PBHs) have emerged as a strong candidate for cold dark matter. A significant number of PBHs are produced when the strength of the primordial scalar power spectrum is enhanced on small scales (compared to the COBE normalized values on large scales). Such primordial spectra also inevitably lead to strong amplification of the scalar-induced, secondary gravitational waves (GWs) at higher frequencies. The recent detection of the stochastic gravitational wave background (SGWB) by the pulsar timing arrays (PTAs) has opened up the possibility of directly probing the very early universe. Different studies have shown that, when PBHs are assumed to have been formed during the epoch of radiation domination, the mechanism for the amplification of the scalar-induced GWs that is required to explain the PTA data can overproduce the PBHs over some ranges of masses. In this work, we assume a specific functional form for the primordial scalar power spectrum and examine the production of PBHs and the scalar-induced secondary GWs during the phase of reheating, which precedes the standard epoch of radiation domination. Specifically, we account for the uncertainties in the conditions for the formation of PBHs and ensure that the extent of PBHs produced remains within the observational bounds. We find that the scalar-induced SGWB generated during a phase of reheating with a steeper equation of state (than that of radiation) fit the NANOGrav 15-year data with a stronger Bayesian evidence than the astrophysical scenario involving GWs produced by merging supermassive binary black holes.
Maity et al. (Mon,) studied this question.