Indian listed startups vs the stock market mayhem

Amidst the volatility in equity markets, YourStory analyses eight tech startups IPOs of 2021, and arrives at their invested value vs. Sensex, and also the fate of IPOS in 2022.

Tuesday January 25, 2022 , 4 min Read

Good Morning,

In a matter of just 16 trading days in 2022, since January 3, the S&P BSE Sensex has seen a huge bout of volatility.

On January 24, at the day’s low of 56,984.01, the 30-stock Sensex was down 1,326.08 points – or 2.27 percent – compared to 2022’s opening value of 58,310.09 on January 3.

Just five trading days back, on January 18, the Sensex had touched 61,475.15 points – its highest in 2022. In comparison, at Monday's low, the index was down by a whopping 4,491.14 points – or 7.31 percent.

And if one compares the Sensex’s 52-week high (and also its recent life-high) of 62,245.43 points, on October 19 last year, at Monday’s low point, the benchmark index has seen a fall of 5,261.42 points – 8.45 percent – in a matter of just 68 trading days.

Clearly, the recent bout of volatility shows steep moves on the benchmark index, and the same has its bearing on the market performance of eight tech startups that took the public route through their initial public offerings (IPOs) in 2021 – also hailed as the best year ever for IPOs.

On Monday, alongside the 1,545.67 – or 2.62 percent – decline in the S&P BSE Sensex, the eight tech startups witnessed an erosion of Rs 38,171 crore ($5.1 billion) in their total market value. It stood close to Rs 2.70 lakh crore ($36.3 billion) on Monday, as compared to Rs 3.08 lakh crore ($41.4 billion) on Friday.

At YourStory, we analysed these eight tech startups’ listing day closing prices and the value at which the S&P BSE Sensex closed on the respective listing days.

And, after rebasing the closing prices and the Sensex’s close to 10,000 on the respective listing days, we have arrived at the invested value’s performance at the close of trade on January 24 (Monday). Read more.

The Interview

FarEye CEO Kushal Nahata deep-dives into the journey behind building a global end-to-end logistics startup from India and outlines the company’s expansion plans, and the road ahead.

Founded in 2013 by Kushal, Gaurav Srivastava, and Gautam Kumar, FarEye is gunning for an enhanced delivery experience for end-customers through its intelligent delivery management platform.

Editor’s Pick: Techie Tuesday

Prasanta Kumar Ghosh, Associate Professor at the Indian Institute of Sciences (IISc), Bengaluru, has developed several patented voice technologies using Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR). His love for science and technology developed early on when he was in school.

In this week’s Techie Tuesday, we feature Prasanta, whose work in speech recognition is transforming many lives. Read more.

Startup Spotlight

To become a leader in the communication skill segment

Started in 2016 by XLRI graduates Kunal Malik and Maneesh Dhooper to disrupt the unorganised private tuition sector in India, PlanetSpark sought to transform traditional KG to Class 8 tuitions by combining physical teaching with mobile technology.

However, the platform pivoted to online classes in October 2019 after seeing the dramatic rise in demand for edtech. With over 2,000 tutors and 22,000 students trained so far on its platform, the Gurugram-based startup aims to make children between 4 and 16 years confident communicators. Read more.

News & Updates

Foodtech unicorn Swiggy has turned decacorn after raising $700 million in funding led by Invesco, six months after it raised $1.25 billion. Swiggy is now valued at $10.7 billion, up from its previous $5.5 billion.

Fullerton India and One97 Communications Limited, the parent company of Paytm, have partnered to provide lending products to MSMEs. The initiative aims to fulfil the credit needs of MSMEs across small cities and towns to help them scale up their businesses.

Ezetap has announced that Byas Nambisan, CEO since 2019, has now been elevated as a Co-founder by the Board. This is in recognition of his leadership in bringing the company to the forefront of India’s dynamic fintech landscape.

Flipkart has ramped up its grocery operations to now service consumers in 1,800 cities, including Ajmer, Amritsar, Bhuj, Dehradun, and Kanyakumari, among others. With this expansion, Flipkart is now present in 23 states, taking its reach to 10,000 pin codes.