Paytm, Nyka, and other recently listed equities are well down their all-time highs

Nykaa shares have fallen by over 45% since their record high.


A record-breaking streak of IPOs occurred in 2021. Many listed unicorns, including Nykaa, Zomato, Paytm, and Policybazaar, have seen a significant reduction in their valuation as a result of the sell-off, which has caused the prices of newly listed stocks to fall much below their respective highs. In addition to several other firms, MapmyIndia, CarTrade, Nazara Technologies, and Delhivery have all launched their initial public offerings (IPOs).


Since listing in November of last year, the parent company of Nykaa, FSN E-Commerce Ventures Ltd., has seen a nearly 37 percent decline in share price. This decline is a result of the general market turmoil that has put additional pressure on technology company stock prices as interest rates are expected to rise globally. However, since its IPO issue price of ₹1,125 per share, Nykaa shares have increased by nearly 28 percent.


When Nykaa, the businesswoman Falguni Nayar’s retail cosmetics brand, listed its IPO in 2021, it created a stir in the marketplace. Despite a promising start, Nykaa’s stock price is at Rs 1,425, down almost 45% from its all-time high.


Zomato, a food aggregator, also had a successful IPO because it was 38.25 times oversubscribed. Zomato’s share price is currently Rs 54.50, which represents a roughly 68 percent decline from its all-time high of Rs 169. Zomato stock has decreased by more than 57 percent (YTD) so far in 2022.


Paytm’s parent company, One 97 Communications Ltd, raised $2.5 billion in its initial public offering (IPO), but a 27 percent decline on November 18, 2021, marked its debut, making it one of the worst opening showings by a significant technological corporation since the dot-com bubble phase of the late 1990s. The stock is trading at a discount of 65% to its all-time high.


Online insurance service business Policybazaar, which is owned by PB Fintech, floated at a premium of 17.35% on the BSE. It grew to a maximum of 1,470. However, this has also experienced a decrease in share price, and it is currently trading less than 60% off of its all-time high.

In a similar vein, shares of MapMyIndia (CE Info Systems) and CarTrade are down roughly 30% and 67%, respectively, from their record highs.