The combined market value of five new-age companies have fallen below Rs 2 lakh crore mark, thanks to the recent broader market selloff and muted set of quarterly earnings. Three of these companies commanded m-caps of about Rs 1 lakh crore on their respective listing days.
At 12.26 pm,
was trading at Rs 66.45, down 3.84 per cent. The food aggregator holds an m-cap of Rs 52,320.44 crore compared with Rs 98,731.59 crore on July 23, 2021, its listing day
Shares of
were trading at Rs 588.45, down 2.02 per cent. At the prevailing price, the company commands an m-cap of Rs 38,146.17 crore compared with an m-cap of Rs 1,01,399.72 crore as of its listing day, November 18
(Policybazaar) fell 0.45 per cent to Rs 589, commanding an m-cap of Rs 26,475.54 crore compared with Rs 54,070.33 crore on November 15, 2021, its listing day.
FSN E-Commerce Ventures (
), which was down in the morning trade, recovered smartly and was trading 1.32 per cent higher at Rs 1,465. This stock commanded a m-cap of Rs 69,471.04 crore compared with listing day’s (November 10) closing m-cap of Rs 1,04,360.85 crore.
CarTrade fell 5.02 per cent to Rs 661.65. This company commanded an m-cap of Rs 3,087.30 crore compared with Rs 6,875.57 crore on its listing day.
Together, these five companies now command Rs 1,89,500 crore m-cap against Rs 3,65,438 crore on Day 1 of their listings.
The recent fall in these stocks would hurt individual investors holding up to Rs 2 lakh worth of shares as they had raised stakes in these companies in March quarter. The five companies have also reported a deterioration in the bottom line for the quarter.
In the case of Zomato, retail investors owned 3.52 per cent stake as of March quarter compared with 1.6 per cent stake at the end of December quarter and 1.4 per cent stake as of September 30, 2021, data available with corporate database AceEquity suggests.
For Paytm, retail holding went up to 7.72 per cent in March quarter from 3.49 per cent in December quarter. FPIs cut their holding by 494 basis points in this company as of March quarter.
In case of PolicyBazaar, retail stake has gone up to 2.49 per cent from 2.12 per cent sequentially.
For Nykaa, retail stake moved up to 2.66 per cent from 2.18 per cent, as per AceEquity data.
CarTrade, meanwhile, saw retail stake rising to 15.44 per cent in March quarter from 14.79 per cent in December quarter and 14.19 per cent in September quarter. CarTrade got listed in August 2021.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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