Not Just Paytm, These 18 Stocks Have Tumbled Over 40%-60% Since IPO Last Year
The stock price of Paytm¡¯s parent company is not the only one bleeding red. There are nearly 18 stocks that have tumbled over 40%-60% since their IPO last year.
Ever since One97 Communications, the parent company of Paytm, got listed after its IPO in November 2021, its stock price has largely disappointed the investors.
Over the past five months, its stock price has fallen over 60%, slipping below ?600 in the most recent downfall since last week, which has been because the RBI banned Paytm Payments Bank from onboarding new customers and directed it to appoint an audit firm.
However, the stock price of Paytm¡¯s parent company is not the only one bleeding red in stock market. There are nearly 18 stocks that have tumbled over 40%-60% since their IPO last year.
Out of 60 stocks on the BSE IPO Index, 18 stocks, including Paytm, have dropped between 40% -65% from their highs since listing. And about half of the stocks in the index have wiped out one third of the investors' wealth, as per the data from brokerage firm AceEquity shows in ET report.
The report also stated that market experts have said the rout in global tech stocks, aggressive pricing, pure offer for sale issues, rich valuations, FII outflows, inflationary concerns and uncertainty due to the Russia-Ukraine war are adding pressure on the latest debutantes who have rolled out IPO and got listed.
Also Read: After Rival Zomato's Stock Price Crash Last Week, Swiggy Eyes $800 Million IPO In Early 2023
Other Stocks That Have Been Bleeding Red
CarTrade Tech has suffered nearly 63% fall. Since its IPO in August 2021, its stock price has fallen from ?1501 on August 20th (on NSE) to ?553.2 yesterday.
As per ET, startups including Zomato and PB Fintech have eroded more than half of investors' wealth from their recent peak. Fino Payments Bank and Krsnaa Diagnostics have also plunged more than 50%.
Also, Suryoday Small Finance Bank has eroded 62% of the investors wealth in the last 1 year since listing, as per ET. The stock has fallen to Rs 112.55 yesterday (15th March 2022), from Rs 277.8.on March 26th 2021, signaling a nearly 60% fall.
Other stocks such as Paras Defence And Space Technologies, Nazara Technologies, Windlas Biotech, FSN E-Commerce Ventures (Nykaa) and Railtel Corporation of India have slipped between 45-50% from their post listing peaks, as per ET report.
RateGain Travel Technologies, Latent View Analytics, AGS Transact Technologies, Glenmark Life Sciences, Hindustan Media Ventures and Tega Industries are other players to fall more than 40%, according to ET.
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