IPO market in India has boomed in leaps and bounds over the last decade, the journey has not been smooth for every company. At least eight IPOs debuted with billion-dollar market caps in the last 10 years, only to struggle to maintain their momentum and eventually slip below the threshold.
A report from Motilal Oswal highlighted this stark trend of companies, which include IndiGo Paints, Ujjivan SFB, Powergrid Infra, Chemplast Sanmar, Juniper Hotels, TVS Supply and TN Mercantile Bank.
Indigo Paints, listed in January 2021 with a market cap of $2.03 billion, has seen its market cap drop sharply to $0.82 billion, less than half of its debut figure.
Similarly, Ujjivan Small Finance Bank, which went public in December 2019 with a market cap of $1.36 billion, is now valued at just $0.81 billion. These companies have likely faced sectoral headwinds, market corrections, or operational challenges that eroded their valuations.
Also Read: Forgotten bluechip! Asian Paints shares near 4-year-low, will 2025 be a comeback year?
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