Where do Zomato, Nykaa, Paytm stocks stand today?

Indian startups looking to list on public markets are on the back foot as value correction of new-age technology stocks has made retail investors wary.

Good Morning,

The financial year 2021-22 has proved to be a stellar one for the Indian startup ecosystem with the emergence of a record number of unicorns, and many technology companies such as Zomato, Paytm, Nykaa, and PolicyBazaar going for IPOs.

However, sunny days may be over as value correction for the stocks of the newly listed tech stocks and volatility in the global markets have dampened these spirits. Many startups are on the back foot as value corrections have made retail investors wary.

Foodtech major Zomato closed March 2 at Rs 82.15 per share — down from its peak of Rs 169.10 on November 16, 2021. The company’s market cap stood at $8.51 billion as compared to its $12 billion public market debut.

Meanwhile, PB Fintech Ltd, the parent entity of PolicyBazaar, closed the day at Rs 659.45 per share on Thursday — nowhere close to its offer price of Rs 980 per share set during the IPO. The current market cap of the company stood at $1.09 billion, a sharp decline since its public market debut.

Click here to look at the performance of the new-age technology stocks listed in FY 2021-22 and where they stand today.

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