IPO Watch: Nearly 45% of newly listed companies trading below issue price; Paytm, CarTrade, Fino Payments top laggards

Around 45 per cent of the recently listed companies in the last one year are trading below their offer prices, according to domestic brokerage firm Motilal Oswal’s report. Out of the 138 new listings in the last one year around 61 companies are trading below their offer price, the domestic brokerage said further in its report.

The report highlights the stock price performance of 35 companies with an issue size of over Rs 1000 crore. Out of these 35 companies with above Rs 1000 crore issue size, 6 companies are trading 50 per cent higher than their offer price. 

 One-97 Communications-backed Paytm is the biggest laggard as its share price is down by almost 70 per cent from issue price, followed by CarTrade Tech which is down by 61 per cent. Meanwhile, Fino Payments is down 56 per cent and Nuvoco Vistas and Krsnaa Diagnostics are down around 47 per cent, each. 

Edible oil manufacturer Adani Wilmar tops the chart with over 190 per cent surge in the stock price from its issue price, followed by Clean Science which is up over 95 per cent. Sona BLW Precision is up over 90 per cent while Devyani International is up nearly 90 per cent, and Ruchi Soya up 68 per cent. 

Other companies that have reported growth are – KIMS Hospital, Go Fashion, Powergrid Infra, FSN E-Commerce Ventures (Nykaa), CE Infosystems, Campus Activewear, Metro Brands, Vedant Fashions each up between 16-60 per cent in the one last year from their issue price, the brokerage said. 

While other recently listed companies such as Tarsons Products, Delhivery, Medplus Health and CMS Infosystems gained marginally in the range of 8-9 per cent from the issue price.  

Conversely, Glenmark Life and Aditya Birla AMC are down by 41 per cent, followed by Vijaya Diagnostics, and RateGain Travel each down 32 per cent from the issue price. While Star Health, Aptus Value, Chemplast Sanmar, Sapphire Foods are each down between 10-25 per cent from the issue price.