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IPO Stocks Tumble: 3 of 4 Fall Below Issue Price
20 Nov
Summary
- Three out of four IPOs face shareholder lock-in expiry today.
- Nearly ₹410 crore worth of shares become available for trade.
- Several stocks are trading significantly below their initial IPO prices.
The financial markets are closely watching as the shareholder lock-in period concludes for four Indian companies: Vikram Solar, Shreeji Shipping, Gem Aromatics, and Patel Retail. Today, approximately 1.5 crore shares, collectively valued at around ₹410 crore, are set to become available for trading on the open market.
This event is particularly significant as a majority of these newly tradeable stocks are performing poorly. Three out of the four companies are currently trading below their respective Initial Public Offering (IPO) prices, indicating a challenging post-listing performance and raising concerns among investors about potential sell-offs.
Vikram Solar, in particular, will see 93 lakh shares become available, valued at ₹275.7 crore, despite closing below its IPO price. Similarly, Shreeji Shipping, Gem Aromatics, and Patel Retail are also facing the end of their lock-in periods, with a substantial number of shares becoming eligible for trade amidst their underperforming stock values.
