Newly listeds beaten to pulp

The newly listed start-ups, which had received an overwhelming response in the IPO are today battered down to pulp with many touching new lows, obviously way below their listing prices.

With huge sell-offs seen on the Nasdaq and global markets, IT stocks are being pushed down into the red and this is hurting the sentiments for the Indian start-ups.

Its like as though investors paid no attention to the “loos-making” tag during the IPO; they seem to be noticing that only now. Not expecting the financials to improve any time soon, the moods on these newly listed stocks is pretty bearish today.

Zomato, Paytm, PB Fintech, Nykaa all hit new lows. All the other recently listed stocks – Latent View, Sona Comstar, MayMyIndia, Sapphire Foods, RateGain, GR Infra and Metro – all are down in the deep red.