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 per cent of the 108 firms in the IPO index are trading below their offer price, with a dozen down more than 25 per cent.
The slowdown in post-listing gains comes even as fundraising from first-time share sales nears last year’s record of almost $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.
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