The startup sizzle has come to an end with their shares now down up to 67% from the issue price.
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Last year we saw a frenzy on Dalal street even though the investment in these companies only led to huge losses to investors. This comes at a time when the benchmark index Nifty is up over 12% in the last one year even after suffering a huge decline due to the Russia Ukraine crisis.
Share prices of startups like Paytm and CarTrade Tech are down as much as 67% from their issue prices.
Also read/watch | Paytm downgraded by Morgan Stanley after RBI order, target price slashed
Zomato, after seeing a bumper listing, is trading 32% down from its listing price. However, it is 4% higher than its offer price during the IPO.
Ashneer Grover's favourite IPO Nykaa is down 31% from its listing price of Rs 2,001.
Policybazaar parent PB Fintech made losses to the tune of 40% for its investors.
Also read/watch | Adani, Piramal, Poonawala all eyeing to acquire this business from Anil Ambani