By Kanishka Sarkar Nov 19, 2021 10:59:42 AM IST (Updated)
Paytm’s stock is not the only one that didn’t make the premium listing cut and ended on a negative note despite having an IPO size of more than Rs 1,000 crore. Here's a look at the worst IPOs of all time
Paytm’s initial public offering—India’s largest till date—failed to live up to expectations on listing day, with the shares closing 27 percent below the issue price of Rs 2150.
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But this is not the first time, that high profile IPOs have been cold shouldered by investors on listing day.
In 2008, the street was in a frenzy over Reliance Power’s Rs 10,123 crore IPO. The widely held view among investors was that the shares would list at twice the issue price if not more. A large number of demat accounts were opened by retail investors, who were convinced there was easy money to be made from the IPO. The hype over the Reliance Power IPO was similar to what new-age firms are seeing today.