KUALA LUMPUR (Nov 17): India’s primary market may be buzzing with activity, but that hasn’t translated into big rewards for investors.
BSE Ltd’s gauge of newly listed firms — which tracks companies for a year after debut — is lagging the broader market and is on course for its first underperformance since 2022. About 40% of the 108 firms in the IPO index are trading below their offer price, with a dozen down more than 25%.
The slowdown in post-listing gains comes even as fundraising from first-time share sales nears last year’s record of almost US$21 billion, highlighting the uneven returns for investors in India’s stock market boom.
Still, some newcomers have bucked the trend: electric-scooter maker Ather Energy Ltd and solar technology firm Waaree Energies Ltd have more than doubled since listing.
Uploaded by Arion Yeow
