Over 60% of New Listings Trading Below Their IPO Price
New Delhi: More than half of the new entrants to the stock market this year are trading well below their IPO price, giving negative returns of as much as 31%.
Out of the six companies that have launched their IPOs this year, four are still trading below the price at which they had issued shares to the investors, an analysis of the performance of these firms showed. The other two have managed to make gains by staying above their issue price.
Quick Heal Technologies which gotlistedinFebruaryhastakenthe steepest hit as its shares have slumped 31% against its IPO price.
In t he c a s e o f Preci s i o n Camshafts, the first public offering of 2016, its shares have fallen by over 17%. Similarly, shares of HealthCare Global Enterprises tumbled 12.5% and that of Bharat WireRopeshavelostmorethan1%.
In contrast, Infibeam Incorporation and TeamLease Services have managed to stay afloat even as the broader market sentiment remained weak.