Since One97 Communications, Paytm’s parent company, went public after its IPO in November 2021, its share price has largely disappointed investors.
In the past five months, the share price has fallen by over 60%, slipping below £600 in the latest fall since last week, as RBI banned Paytm Payments Bank from taking on new customers and ordered it to hire an auditing firm appoint .
Reuters
However, Paytm’s parent company’s stock price isn’t the only one bleeding red in stock market. There are nearly 18 stocks that are down over 40% to 60% since their IPO last year.
Out of 60 stocks in the BSE IPO Index, 18 stocks, including Paytm, are down between 40% and 65% from their highs since listing. And about half of the stocks in the index have wiped out a third of investor wealth, data from brokerage firm AceEquity shows in the ET report.
The report also noted that market experts have said the defeat in global tech stocks, aggressive pricing, sell-only issues, high valuations, FII outflows, inflation concerns and uncertainty stemming from the Russia-Ukraine war are increasing pressure on recent debutants who IPO have been rolled out and noted.
Also read: Following rival Zomato’s stock market crash last week, Swiggy is planning an $800 million IPO in early 2023
Other stocks bleeding red
CarTrade Tech has suffered a nearly 63% drop. Since the IPO in August 2021, the share price has fallen from ₹1,501 on August 20 (on the NSE) to ₹553.2 yesterday.
According to ET, startups like Zomato and PB Fintech have eroded more than half of investors’ wealth since their recent peak. Fino Payments Bank and Krsnaa Diagnostics are also down more than 50%.
Also, according to ET, Suryoday Small Finance Bank has eroded 62% of investor assets in the past 1 year since listing. The stock fell to Rs 112.55 yesterday (15 Mar 2022) from Rs 277.8 on 26 Mar 2021, signaling a fall of almost 60%.
Other stocks like Paras Defense And Space Technologies, Nazara Technologies, Windlas Biotech, FSN E-Commerce Ventures (Nykaa) and Railtel Corporation of India are down between 45% and 50% from their post-listing highs, according to the ET report.
RateGain Travel Technologies, Latent View Analytics, AGS Transact Technologies, Glenmark Life Sciences, Hindustan Media Ventures and Tega Industries are other players falling more than 40%, according to ET.
Also Read: Despite Market Turmoil, Warren Buffett’s Company’s Stock Price Hits All-Time High of $500,000
For the latest financial news, Continue reading. Click here.
Comments are closed.