These 4 newly listed startups lose steam, shares way below their all-time highs
New Delhi [India], July 8 (ANI): After having witnessed sizable gains on their exchange debut, a majority of the start-ups listed in the past one year have underperformed and fallen sharply from their all-time highs.
New Delhi [India], July 8 (ANI): After having witnessed sizable gains on their exchange debut, a majority of the start-ups listed in the past one year have underperformed and fallen sharply from their all-time highs.
MapmyIndia, CarTrade, Nazara Technologies, Nykaa, Zomato, Policybazaar, Paytm and Delhivery were among several startups which came up with their Initial Public Offerings (IPOs).
Nykaa
Nykaa, the beauty retail company founded by entrepreneur Falguni Nayar caused a buzz in the market when it listed its IPO in 2021. FSN E-Commerce Ventures, which operates the online beauty e-commerce platform Nykaa, raised Rs 5,352 crore through the IPO and was a huge success.
The IPO got subscribed 81.78 times. It made a strong debut on the stock market by getting listed at 79 per cent premium over its issue price.
Currently, Nykaa’s share price is at Rs 1,441.95, which is around a 52-53 per cent decrease from its record high price.
Zomato
Food aggregator Zomato’s IPO too was a success as it was subscribed 38.25 times. It made a stellar debut at a premium of 53 per cent. At present, the share price of Zomato is at Rs 54.50, which is approximately a decrease of 67 per cent from its peak of Rs 169.
Policybazaar
PB Fintech-owned online insurance service provider Policybazaar had listed at a premium of 17.35 per cent on the BSE. It reached a high of Rs 1,470. However, like the others, this also has faced a decline in share price and is currently trading at Rs 571.65.
Paytm
Expected to be a success story for the start-up ecosystem, IPO of One97 Communications-backed Paytm instead had a disappointing debut. With an IPO size of Rs 18,300 crore, it got listed at a discount of 9 per cent to its offer price.
Analysts believe that Paytm’s business lacked systematic direction and well-planned focus, while others attributed the slump to an extremely high valuation of the company.
On the other hand, the silver lining among the recently listed start-up companies is that logistics solution provider Delhivery has risen 13 per cent since its debut on May 24, 2022. Currently trading at Rs 588.50, the listed start-up company has been performing comparatively well as compared to its peers. (ANI)
