Newly listed companies siphoned off a lot of investors’ money.
Among them, companies providing online services were leading.
Paytm cleaned up about 70 percent of the investment.
New Delhi. The big-name stocks listed in the last one year of companies doing online business have sunk a lot of investors’ money. From Paytm to Policybazaar and Zomato to Nykaa, no one has given investors a chance to be overjoyed. Zomato shares have once again come in the center of discussion. While 2 brokerage houses are now expecting a rise in it, according to a valuation guru, it will go down further.
Quoting an article published in Mint, we will tell you how much wealth the shares have drowned investors from their issue price so far. The stocks we will talk about are Paytm, PB Fintech or Policybazaar, Nykaa and Car Trade Tech.
Paytm is India’s largest IPO As listed in the market. Its price band was Rs 2150. This stock was listed on NSE at Rs 1950 and on BSE at Rs 1955. That is, about 9 percent below the issue price. After this, it fell 27 percent to Rs 1560 on the day of listing itself. The share price of Paytm is currently Rs 705 and it has drowned 67 per cent of its investors’ investment from the issue price so far.
Policybazaar or PB Fintech brought its IPO in November last year. The company had kept a price band of Rs 940-980. The shares were allotted at Rs 980 and the company entered the stock market at Rs 1150 with a premium of 17 per cent. After this it also went to its lifetime high of Rs 1470, however, it fell back after that and soon touched its 52 week low of Rs 454. The stock is currently priced at Rs 469 and is about 52 per cent below the issue price.
The company came out with an IPO in October 2021. Its shares were allotted at Rs 1125 and listed at a premium of 75 per cent. It soon touched the level of Rs 2573 which is its lifetime high. After doubling investors’ money in a month, the fall in the shares started and today it is at Rs 1400. Although, it is still higher than the price of the IPO, but after the listing, the investors have faced losses.
The company’s IPO came in August 2021. Its price band was from 1585 to 1618 rupees. The company got listed with a discount and since then it has continued to decline. Today its price is Rs 690, which is about 57 percent below the issue price.
FIRST PUBLISHED : July 30, 2022, 16:40 IST