3 New Listed IPOs Trading Dow Up to 40% of the Issue Price: Do You Own Any?

The Indian stock market has witnessed a flurry of IPO activity over the past few trading sessions. With more than 20 companies making their stock market debut, the Indian Inc have raised enormous capital.

Turning to the post-listing performance, there is entirely a different story. Around two-thirds of these new entrants are now trading below their respective issue prices. Despite the overall weak sentiment, a few listings have stood out, though not necessarily for positive reasons.

Om Freight Forwarders Limited

Om Freight Forwarders made its debut on Wednesday, October 8, listing at a sharp discount of over 30% to its issue price of ₹135 per share. The weak listing set the tone for the rest of the day, with the stock closing 36% lower on its first trading session.

The company’s ₹122 crore IPO was subscribed nearly 4 times overall, with retail investor demand coming in at just over 2 times the shares on offer. However, the strong subscription figures did little to support the stock post-listing.

Glottis Ltd

Glottis Ltd was listed on the stock exchange just a day earlier at a similar discount. Priced at ₹129 per share in the IPO, Glottis closed its first trading session down 35%. While the stock attempted a minor recovery on Wednesday, the gains were quickly wiped out, ending the session flat.

The Glottis IPO was subscribed 2.05 times overall, with retail investor interest coming in at 1.42 times. Despite the decent demand, the stock failed to hold investor confidence on the bourses.

BMW Ventures Ltd

BMW Ventures Ltd. also joined the list of underperformers, debuting last week at a 25% discount to its IPO price of ₹99. Since listing, the stock has remained under pressure, repeatedly hitting or nearing the 5% lower circuit over the last four sessions. By Wednesday's close, it had slipped nearly 40% from its issue price.

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Conclusion

These listings come amid an IPO frenzy, with nearly 50 companies hitting the primary markets during the July–September quarter alone. However, the dismal post-listing performance of several newly listed stocks suggests that investor appetite may be cooling, especially in the face of rich valuations and volatile market conditions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.