The impact of the decline in the stock market was visible on 18 recently listed companies. Shares of many companies reached their all-time low. These names include Bajaj Housing Finance, Vari Energy, One MobiKwik Systems, Dam Capital Advisors, PN Gadgil Jewellers, Transrail Lighting and Unimech Aerospace and Manufacturing.
Apart from this, shares of companies like ACME Solar Holdings, Indo Farm Equipment, Crystal Integrated Services, Northern Arch Capital, and Suraksha Diagnostics also hit low levels.
11% decline in IPO index
The BSE IPO index has fallen 11% so far this month, while the Sensex is down just 2.6%. The IPO index had made a high of 17,281 on September 24 last year, but now it has fallen to 14,650.
Vari Energy
Shares of solar power giant Vaari Energy fell 15% to Rs 2,266 in three days. The stock had touched a record high of Rs 3,740 in November 2024, but has fallen by 39% from there till now. Nevertheless, it is still up 51% from its issue price of Rs 1,503.
Bajaj Housing Finance
Shares of Bajaj Housing Finance fell at Rs 109, down 42% from their high of Rs 188.45. However, it is still trading 56% above the issue price of Rs 70. The company is among the fast growing housing finance companies, but any slowdown in real estate can affect its business.
Dam Capital Advisors
Shares of Dam Capital Advisors fell below its issue price of Rs 283 to Rs 278. It has fallen 39% from its listing high of Rs 456.90. This company provides merchant banking and equity related services, but the current market condition has dealt a blow to it.