Market draft pops IPO balloon, now 15 mainboard listings lose air

Deflated: 10 of them down 10% or more below issue price

The majority of initial public offerings (IPOs) in recent months have fallen into the red. Of the 25 firms that listed on the mainboard since September, 15 are now trading below their issue price, with 10 of them down by 10 per cent or more.

 

A mix of disappointing debuts and a sharp decline in market sentiment has contributed to the drop. Companies such as Western Carriers (India), Deepak Builders & Engineers India, Godavari Biorefineries, Tolins Tyres, and Baazar Style Retail have all lost over 20 per cent of their value since going public. 

2024 began strong for IPOs, with