2021-11-22 06:13:57
So Paytm IPO opened in red, ended in deep red.
Paytm has been the largest IPO ever in India, raising ₹18,300 crores.
Before this, there have been only 4 more IPOs which have raised above ₹10,000 crores.
Let's see the Paytm and 5 more top IPOs by size and how was their performance on the opening day (closing price).
1. Paytm (₹18,300 crores) : -27.4%
2. Coal India (₹15,200 crores): +40%
3. Reliance Power (₹11,563 crores): -17.3%
4. GIC Re (₹11,176 crores): -4.2%
5. SBI Cards (₹10,355 crores): -9.8%
6. New India Assurance (₹9,600 crores): -9.1%
Source: chittorgarh . com
Now, most of these IPOs came at fag end of a bull sub-cycle. Of course, they won't know it when they launch that market is soon going to correct / consolidate.
GIC Re, NIA came towards end of 2017. We entered a consolidation from Jan end 2018.
SBI Cards came in March 2020. We know what happened after that, whatever the reason.
Reliance Power came in Jan 2008. And we again know what happened in 2008 :)
Coal India came in Nov 2010. Although there was no major correction, but index never went back above that level till Sep 2013 (when Raghuram Rajan assumed office).
Now Paytm... hmmmm
PS: History might not reflect the future. Please take above facts for fun
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