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<ul><li>The price band for <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>’s IPO was set at ₹940-₹980.</li><li>The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m.</li><li>It will use the proceeds from the public issue to acquire new businesses and boost its operations.</li></ul>Shares of PB Fintech — the parent company of online insurance platform PolicyBazaar and lending platform PaisaBazaar — started trading at ₹1,150 on the stock exchanges on Monday, November 15.<br /><br />This is a premium of 17.35% over the issue price of ₹980. The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m.<br /><br />The pre-open price of this IPO was ₹1,200 at 9:38 AM.<br /><br />PolicyBazaar's shares were trading at ₹1,233 at 11:33 a.m, representing a premium of 26%.It's market cap reached ₹55,672.80 crore ($7.4 billion) at the same time.<br /><br />PolicyBazaar’s three-day-long initial public offering (IPO) opened on November 1, at a price band of ₹940-₹980 per share. The lot size was set at 15 shares. <br /><br />The cost of each lot was ₹14,700 at ₹980 a share. <br /><br />The grey market ⁠— shares being bought and sold outside the exchanges before the IPO ⁠— was at a premium of ₹150 a share, as per several media reports.<br /><br />The issue size of PolicyBazaar’s IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore. The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore.<br /><br />PB Fintech — which was <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">reportedly</a> valued at $2.4 billion in March 2021 when it raised $45 million from Cyrus Poonawalla Group and others — reported revenue of ₹957 crore in the financial year 2021. Its losses were cut down to ₹150 crore.<br /><br />The company would use the proceeds from the upcoming IPO for marketing of PolicyBazaar and PaisaBazaar. A part of the proceeds would also be used for strategic investments and acquisition of new businesses, it said in its red herring prospectus (RHP).<br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms" data-type="tilCustomLink">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms" data-type="tilCustomLink">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a><br /><br /><a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms" data-type="tilCustomLink">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a><br />

PolicyBazaar starts trading at a premium of over 17%

<ul><li>As startup layoffs continue, Mobile Premier League and FrontRow fire 245 peopleInfo Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>.</li><li>The market cap of both the companies have fallen significantly as the Indian stock market undergoes sharp correction.</li><li><keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> owns 15.23% stake in restaurant aggregator business Zomato and 13.3% in financial services company PolicyBazaar.</li></ul>Sanjeev Bhikchandani-led Info Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups Zomato and PolicyBazaar since their stock market debut. The development comes as tech and startup stocks underwent a meltdown in the last few months. <br /><br />According to Business Insider’s calculations, the Naukri.com and Jeevansathi.com’s parent company has made ₹12,656 crore ($1.6 billion) on its investment in the two companies as of May 30. This investment however was once worth more than twice of what they’re now worth —- at ₹22,148 crore ($2.8 billion), as per their listin day valuations. <br /><br />Notably, Info Edge owns 15.23% stake in restaurant aggregator business Zomato and 13.3% stake in financial services company PB Fintech, which is the parent company of PolicyBazaar and PaisaBazaar.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on the day of listing<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on May 30, 2022<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,957 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,537.9 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech (PolicyBazaar)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,191 crore. <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,119 crore <br /><br /></td></tr></tbody><tbody></tbody></table>Zomato’s shares listed at a<a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms#:~:text=Zomato%20made%20a%20strong%20debut,the%20NSE%2C%20up%2072%25."> premium of 51% </a>as its shares opened at ₹116 in July 2022. Its market cap was at ₹98,211 crore on the closing bell on the first day of listing, down from the ₹100,000 crore mark it breached earlier in the day.<br /><br />The company’s market cap has halved since then to ₹56,060 crore, as of May 30. At the peak of Zomato's stock price, Info Edge’s shareholding in the company was valued at ₹20,190 crore.<br /><br />PB Fintech — which offers insurance and loan facilities to customers — listed on the stock exchange at a premium of 17% on the Indian stock market on November 15, 2021. Its market cap was ₹54,070 crore on the closing bell on the day of market debut, versus ₹30,970 crore on May 30. <br /><br />Info Edge is also an investor in other initial public offering (IPO)-bound companies like ixigo and Shiprocket.<br /><br />The year <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">2022 has not been a great one</a> for these tech stocks, which <a href="https://www.businessinsider.in/stock-market/news/paytm-nykaa-and-zomato-are-now-a-part-of-nifty-next-50/articleshow/89820712.cms">made their debut on the stock market </a>only last year. Besides Zomato and PB Fintech, others like Paytm and Nykaa have also faced a significant drop in their share price and market capitalization ever since the startup of 2022.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage change in stock price since Jan 1, 2022<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-49.6%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.05%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FSN E-Commerce (Nykaa)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32.99%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One97 Communications (Paytm)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-52.13%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EasyTripPlanner (EaseMyTrip)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+41.68%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapMyIndia<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.59%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RateGain<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21.75%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nazara Technology<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.26%<br /><br /></td></tr></tbody><tbody></tbody></table>Source: Bombay Stock Exchange<br /><br />One97 Communications, the parent company of Paytm, was <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">not doing great in 2021</a> but 2022 was somehow even worse when it 52.13% of its share price and marketcap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021.<br /><br />Nykaa was off to a <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">good start last year</a> as the company managed to double investors’ money on the day of listing. However, it has too been on a downwards trajectory this year as it witnessed over 27% dip in its share price in 2022.<br /><br />Info Edge’s share price also fell nearly 32% since the start of this year.<br /><br /><strong>SEE ALSO</strong><br /><a href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms" data-type="tilCustomLink" style="">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a><br /><a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a><br /><a href="http://www.businessinsider.in/business/startups/news/mobile-premier-league-and-frontrow-fire-245-people-as-startup-layoffs-continue/articleshow/91892557.cms" data-type="tilCustomLink" style="">As startup layoffs continue, Mobile Premier League and FrontRow fire 245 people</a><br />

Info Edge has lost over $1.2 billion on its investment in Zomato, PolicyBazaar

<ul><li>Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>.</li><li>Part of the sell-off in <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> could also be a reflection of the market mood.</li><li>But, there is a lot more that the street is worried about.</li><li>Founder <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> wants the market to be excited about Paytm as a superapp but many others have argued that a smartphone itself is a super app.</li><li>Check out the latest news and updates on<a href="https://www.businessinsider.in/stock-market"> Business Insider</a>.</li></ul>Two of India’s most-awaited tech IPOs, that of Zomato and Paytm, came with a lot of anxiety around the price at which the shares were being sold to the first lot of public investors. Zomato still made some money for those who got the shares in the initial public offering (IPO) but those who got shares in the Paytm IPO have lost 27% on the opening day. <br /><br />By noon, Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant Paytm. The overall market mood played a role in pushing down Paytm’s share price, Deven Choksey, managing director of KR Choksey Shares and Securities, told Business Insider. The sell-off seen earlier in the week intensified on Thursday (the day of Paytm’s market Debut) and 42 out of the Nifty 50 stocks were in the red. But that’s not the only reason why people sold Paytm shares. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation pre-IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valution sought in IPO</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap, as on November 18<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.1 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,21,731 crore ($16.3 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$19.9 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,399 crore ($13.6 billion)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Companies, BSE<br /><br />It’s not that Paytm's advisors didn't see it coming. According to a Bloomberg report <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms">published in October</a>, Paytm was advised to go for a lower valuation than $20 billion in its pre-IPO round but the company decided to skip the round altogether. Even stock brokerage firm Macquarie had given Paytm a with an underperform rating, and projected that the stock may fall to as much as ₹1,200 (compared to an issue price of ₹2,150) any time in the next one year .<br /><br />Interestingly, Paytm was the highest valued Indian startup between 2019 to me this year. The company got a valuation of $19.9 billion in its public issue. The only smile that Paytm believers could steal was thanks to the meme fest on Twitter.<br /><br />                          <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778007" hostid="261"></div><br />The drop in Paytm’s share price led to a fall of the stock market. “Today’s fall in the market is also largely due to collateral damage, Paytm loss to investors,” Deven Choksey, managing director of KRChoksey Shares and Securities said.<br /><br />Manoj Dalmia, founder and director of Proficient Equities Private Limited also highlighted three reasons behind Paytm’s weak listing on the stock exchange. The issue ranges from high valuation to intense competition.<br /><br />These are some of the issues pointed out by Manoj Dalmia of Proficient Equities, Scenes by Avalon’s Shashank Udupa, TaxationHelp.in’s Neha Nagar<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reason<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overvaluation <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company is overvalued at a Price to Sales (P/S) value of 26 compared to its global peers, who have a P/S of 0.3-0.5<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Limited promoters in India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nearly 75% of the promoters of Paytm are from other countries and are selling shares worth ₹10,000 crore, which is more than 50% of the issue.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not a market leader<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm is not a market leader in any business it operates in.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst rating<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falling grey market premium and Macquarie's downrating has pushed the stock into a downward momentum. <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lack of focused business model<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It is present in all over the Fintech space but not doing well in any of them while the competition is rising from players like Google, Amazon, PhonePe. <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Dalmia is not alone in his pessimism around Paytm’s near-term prospects. “Dabbling in multiple business lines inhibits PayTM from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. Competition and regulation will drive down unit economics and/or growth prospects in the medium term in our view,” Macquarie Research analysts Suresh Ganapathy and Param Subramanian said. <br /><br /><strong>ALSO WATCH: Even the biggest of conglomerates find it difficult to do more than two things right, market expert Saurabh Mukherjea told Business Insider. <br /></strong><br />                            <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div><br />Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.The company has 333 million total customers, 114 million annual transacting users and 21 million registered merchants. <br /><br />Paytm has a strong market share in digital payments via the unified payments interface (UPI) but the margin is zero in peer-to-peer payments and wafer thin when merchants get paid. <br /><br />In the personal finance space ⁠— where Paytm sells mutual funds, gold and stocks ⁠— it has a less than 1% market share and makes zero commission, according to Macquarie. In insurance, only one out of 100 policies are sold online and Paytm is pitted against an early bird like Policybazaar as well as legacy banks, which dominate the space.<br /><br />Paytm aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie, which pegged the potential market for buy now, pay later schemes to be anywhere between $45 billion and $50 billion by March 2026.<br /><br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778072" hostid="261"></div><br />Despite a massive user base, the company’s revenue has been marginally declining on a year-on-year (YoY) basis. The company reported a revenue of ₹3,186 crore, with net loss of ₹1,761 crore. “Loss-making businesses will find it hard to sustain premium valuations,” Choksey added.<br /><br />Ravi Singh, head of research and vice president at ShareIndia, noted that Paytm’s future growth is a key to watch for long term investors. “We advise the investors after looking at the overall valuations and earlier losses of Paytm, to book their positions and wait for 1700-1600 levels for fresh investment. Retail investors may remain cautious as the overall market is in profit booking zone pushing maximum stocks in downside territory,” he added. <br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778081" hostid="261"></div><br />“People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” founder and chief executive officer Vijay Shekhar Sharma. He wanted India to be as excited about his dream of a super app for anything that can be bought and sold online. <br /><br />But many others have argued that a smartphone itself is a super app. Another startup founder Kavin Mittal, the man behind the $1.4 billion Hike Messenger, had similar ambitions but found it to be a misguided goal and dropped the plan in January 2021. <br /><br />Will Sharma prove his detractors wrong with Paytm? Only time will tell. <br /><br /><strong>SEE ALSO:<br /></strong><a href="https://www.businessinsider.in/stock-market/news/paytm-ipo-listed-at-discount-of-9-starts-trading-at-1955/articleshow/87772082.cms" data-type="tilCustomLink">India’s biggest IPO lists 9% below the IPO price and it may fall even further, warn analysts</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a><br />

Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

<ul><li>An American fund, owned by the Capital Group, bought one in every three shares of PB Fintech that are available for trading.</li><li>Newly-listed Sigachi, being one of the top players in its segment without any listed peer, saw its shares continue to ride the scarcity premium.</li><li>Check out the latest news, analysis and updates on <a href="https://www.businessinsider.in/stock-market/news">Business Insider</a>.</li></ul>Shares of PB Fintech ⁠— the company that owns the online insurance platform <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> and [descriptor] Paisabazaar ⁠— spiked another 17% a day after its listing on the stock exchange. The shares were trading at ₹1,408.00 at 9:59 a.m. on November 16, increasing its market cap to ₹63,289 crore ($8.5 billion).<br /><br />The same day, Sigachi Industries, another stock that is just a day old on the Indian bourses, hit the upper circuit ⁠— which halts trading in the script temporarily ⁠— after surging 5%.<br /><br />An American fund, part of the Capital Group, lapped up nearly 3.5 million shares of Policybazaar at ₹1,912 a piece on Monday, <a href="https://www.chittorgarh.com/newportal/stock-nse-bulk-deals.asp">according to bulk deals from the National Stock Exchange</a>. That’s nearly 3% of the shares available for trading. <br /><br />The company was listed on the stock exchange yesterday, at a premium of 17% over the issue price of ₹980. The company has given another 17% returns to its investors since yesterday. <br /><br />The excitement around Sigachi was visible at listing ⁠— when the stock spiked over<a href="https://www.businessinsider.in/stock-market/news/shares-of-sigachi-industries-list-at-575-while-the-shares-were-allotted-at-163-per-share/articleshow/87708763.cms"> 3 times the issue price</a> ⁠— and continued on day two.<br /><br />Experts have advised to hold on to the Sigachi stock for long term gains given that it is one of the leading manufacturers of cellulose-based excipients in India. There are no other listed entities in this domain. The company plans to expand its business further with the capital it has raised from this public issue, which will give it an edge over other private players. <br /><br />“Sustained demand for microcrystalline cellulose (MCC) from various industries and the expansion programme, earnings growth momentum looks sustainable. It has been paying a dividend consistently for the last three years, which bodes well,” <a href="https://www.businessinsider.in/stock-market/news/sigachi-industries-ipo-grey-market-premium-rises-to-160/articleshow/87484497.cms">Reliance Securities had said</a>. <br /><br />SEE ALSO: <br /><a href="https://www.businessinsider.in/business/corporates/news/jpmorgan-takes-tesla-to-court-over-elon-musks-2018-tweets-demands-162-million/articleshow/87729405.cms" data-type="tilCustomLink">JPMorgan takes Tesla to court over Elon Musk’s 2018 tweets ⁠— demands $162 million</a><br /><br /><a href="https://www.businessinsider.in/thelife/news/the-un-responded-to-elon-musks-challenge-to-prove-how-his-wealth-could-tackle-world-hunger-by-revealing-a-6-6-billion-plan/articleshow/87726851.cms" style="">The UN responded to Elon Musk's challenge to prove how his wealth could tackle world hunger by revealing a $6.6 billion plan</a><br /><br /><a href="https://www.businessinsider.in/politics/world/news/elon-musk-initiates-another-twitter-fight-by-squabbling-with-bernie-sanders-over-extreme-wealth/articleshow/87706421.cms" style="">Elon Musk initiates another Twitter fight by squabbling with Bernie Sanders over extreme wealth</a><br /><br />

Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing

<ul><li><keyword id="6379793" type="General" weightage="20" keywordseo="falguni-nayar" source="Orion">Falguni Nayar</keyword>’s net worth surged to $6.5 billion as <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> listed at a over 70% premium on the stock exchange.</li><li>The company’s market cap also breached the ₹100,000 crore mark within a few hours of its stock exchange debut.</li><li>Nayar founded Nykaa at the age of 50 after quitting as the MD of Kotak Investment Banking.</li></ul>Nykaa’s founder and chief executive Falguni Nayar has become India’s wealthiest self-made female billionaire after the beauty ecommerce brand’s successful initial public offering (IPO). <br /><br />According to the Bloomberg Billionaires Index, Nayar’s net worth surged to $6.5 billion as Nykaa listed at a over 70% premium on the stock market. <br /><br />Indian Institute of Management (IIM), Ahmedabad graduate Nayar has previously worked with AF Ferguson &amp; Co and Kotak Mahindra Group. She was appointed as the managing director of Kotak Investment Banking in 2007, but exited the company in 2012.<br /><br />At the age of 50, she founded Nykaa. <br /><br />Nykaa’s (FSN E-Commerce Venture Limited) shares were offered within a price range of ₹1,085 to ₹1,125, but the company made its <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">stock market debut ₹2,001 earlier today</a>. This is a premium of 77.87%.<br /><br /><strong>WATCH MORE: </strong>Nykaa, an Indian fashion and cosmetics brand, has beaten the country’s <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-now-bigger-than-coal-india-britannia-irctc-and-almost-double-of-hero-motocorp/articleshow/87635312.cms" data-type="tilCustomLink">biggest biscuits maker and online job portal</a> with a blockbuster IPO.<br /><div type="Video" msid="87641712" hostid="261" title="Nykaa's bumper listing" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87641712"></div><br />The shares were trading at ₹2,203 at 12:39 p.m., on November 10, representing a premium of nearly 96% over the issue price of ₹1,125. The company’s market cap also breached the ₹100,000 crore mark within a few hours of its stock exchange debut. <br />.<br />A total of<a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms"> 17 investors</a> — both institutional and individual — sold part of their shareholdings as OfS in Nykaa’s IPO. This included Falguni and her husband Sanjay Nayar’s family office named Sanjay Nayar Family Trust, TPG Growth, Lighthouse India, J M Financial and Investment Consultancy and others.<br /><br /><strong>SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms">Half of Paytm’s shares have been subscribed so far — today is the last day to subscribe</a><br /><br /><a href="https://www.businessinsider.in/science/news/nasa-is-pushing-its-human-moon-landing-back-to-2025-and-its-top-official-worries-china-will-beat-the-us-there/articleshow/87616430.cms">NASA is pushing its human moon landing back to 2025, and its top official worries China will beat the US there</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-how-to-check-allotment-status/articleshow/87609021.cms">PolicyBazaar’s IPO will be allotted today — here’s how you can check the status</a><br />

Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO

<ul><li>The price band for <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>’s IPO was set at ₹1,085-₹1,125.</li><li>The company’s market cap also breached the ₹100,000 crore mark within a few hours of its stock exchange debut</li><li>It will use the proceeds from the public issue to acquire new businesses and boost its operations.</li></ul>Nykaa made a strong debut on the stock exchanges on Wednesday, November 10, as its shares opened at ₹2,001 on the BSE. This is a premium of 77.87%.<br /><br />The shares were trading at ₹2,203 at 12:39 p.m., on November 10, representing a premium of nearly 96% over the issue price of ₹1,125. <br /><br />The company’s market cap also breached the ₹100,000 crore mark within a few hours of its stock exchange debut.<br /><br />Nykaa — which is a brand of the parent company FSN E-Commerce Venture Limited — was supposed to make its stock exchange debut on November 11, but the listing date was postponed by a day. <br /><br />The company had launched its initial public offering (IPO) on<a href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-subscribed-1-56-times-on-first-day-today-is-the-second-day-to-subscribe/articleshow/87339302.cms"> October 28</a> and it closed on <a href="https://www.businessinsider.in/business/startups/news/nykaa-ipo-today-is-the-last-day-to-subscribe-grey-market-premium-at-700/articleshow/87370518.cms">November 1</a>. The allotment status of the IPO was announced on Monday, <a href="https://www.businessinsider.in/business/startups/news/nykaa-ipo-how-to-check-your-allotment-status/articleshow/87510136.cms">November 8</a>. <br /><br />The company has raised ₹5,352 crore with this public issue. Nearly ₹630 crore will be raised through fresh issue of shares. <br /><br />The price band was set at ₹1,085 to ₹1,125, and the lot size was 12 shares. At a price of ₹1,125, one lot cost up to ₹13,500. <br /><br />Nykaa’s issue was subscribed over 82 times at the end of the bidding process on November 1. The IPO received bids for 216 crore shares against 2.64 crore shares that were offered.<br /><br />A day before its IPO, on October 27, Nykaa raised ₹2,395.8 crore from 174 anchor investors. The Government of Singapore, Goldman Sachs, JP Morgan, Fidelity Investment Fund, JP Morgan Investment Trust, T Rowe Price and others participated in the round.<br /><br />Nykaa intends to use this capital for acquisition of customers as well as new businesses. The beauty and fashion ecommerce brand also plans to increase its international presence by foraying into the <a href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Middle East as well as the United Kingdom</a>.<br /><br />The company will also use the capital to set up <a href="https://www.businessinsider.in/business/news/ipo-bound-nykaa-plans-to-set-up-more-retail-stores-and-warehouse-for-ecommerce/articleshow/87274137.cms">more retail stores and warehouses </a>to promote its ecommerce business. <br /><br /><strong>SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms">Half of Paytm’s shares have been subscribed so far — today is the last day to subscribe</a><br /><br /><a href="https://www.businessinsider.in/science/news/nasa-is-pushing-its-human-moon-landing-back-to-2025-and-its-top-official-worries-china-will-beat-the-us-there/articleshow/87616430.cms">NASA is pushing its human moon landing back to 2025, and its top official worries China will beat the US there</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-how-to-check-allotment-status/articleshow/87609021.cms">PolicyBazaar’s IPO will be allotted today — here’s how you can check the status</a><br />

Nykaa starts trading at ₹2,001, a premium of 77.87%

<ul><li>New age tech stocks like Zomato, Paytm and PolicyBazaar have reported nearly a 5% spike in their share prices.</li><li>PolicyBazaar was the biggest gainer with over 6% increase in its market cap in early trade.</li><li>Paytm was the second biggest gainer of all the tech startup stocks and is currently sitting on a market cap of $8.3 billion</li></ul>All publicly-listed tech stocks — which <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">lost a major chunk of their market value</a> over the last month — have been gaining since the morning of February 1 in anticipation of a more tech-friendly budget.<br /><br />New age tech stocks like Zomato, Paytm and PolicyBazaar have reported nearly a 5% spike in their share prices. PolicyBazaar was the biggest gainer with over 6% increase in its market cap in early trade. <br /><br />Paytm was the second biggest gainer of all the tech startup stocks, in early trade, which is still <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">significantly lower than the $19.9 billion</a> valuation at which it had raised its initial public offering (IPO) at. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech startup stocks<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gain on 1 February, 2022<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in share price over last 30 days<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.59%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-33.11%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+5.12%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.30%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RateGain<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.86%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.18%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapMyIndia<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.71%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.94%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18.51%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+6.75%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EaseMyTrip<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.77%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.28%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fino<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.68%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+3.36%<br /><br /></td></tr></tbody></table>Note: Share price as on 10:00 AM, February 1<br />Source: BSE<br /><br /><strong>SEE ALSO<br /></strong><a href="https://www.businessinsider.in/business/startups/news/economic-survey-2022-highlights-that-delhi-not-bengaluru-is-the-startup-capital-of-india/articleshow/89249128.cms">Delhi, not Bengaluru, is the startup capital of India, says Economic Survey</a><br /><a href="https://www.businessinsider.in/budget/news/indias-defence-budget-allocation-as-per-experts/slidelist/89250030.cms" data-type="tilCustomLink">Allocation for India's defence may see a nominal increase</a><br /><a href="https://www.businessinsider.in/budget/news/the-government-is-expected-to-announce-1-3-lakh-crore-for-railways-under-the-national-infrastructure-pipeline/articleshow/89256692.cms" data-type="tilCustomLink">The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline</a><br />

New age tech stocks Zomato, Paytm and PolicyBazaar buzzing in early trade as investors hope for a tech-friendly Union Budget

<ul><li>Zomato's share price dipped another 10% on Monday, January 24.</li><li>The company's shares were trading at ₹102 at 9:42 a.m.</li><li>The company had fallen below its listing price on Friday.</li></ul>The sell-off in Indian equity markets has taken the wind out of some of the hottest tech startups that got listed in the last few months. Most of them, including Zomato, Nykaa and PolicyBazaar, are trading way below their listing price and much of the gash has come in the last three weeks, <br /><br />On January 24, one of the top losers in this basket was Zomato, which fell 18%. Analysts like Abhay Agarwal, founder and fund manager at Piper Serica, <a href="https://www.livemint.com/market/stock-market-news/why-zomato-shares-have-plunged-over-12-in-5-days-should-you-buy-the-stock-11642751883576.html">believe</a> that this fall in the markets is driven primarily by market correction in Nasdaq over the last month. <br /><br />The market cap of the food aggregator dropped to ₹74,109 crore (almost $10 billion) compared to the peak valuation of <a href="https://www.google.com/amp/s/m.economictimes.com/tech/tech-bytes/zomato-nykaa-shares-hit-all-time-highs/amp_articleshow/87666388.cms">$15 billion </a>on November 12.<br />  <div type="image" title="There are huge discounts on Nykaa, Zomato and shares of other listed tech startups" msid="89088052" hostid="261"></div><br />It's not just Zomato, other tech companies like Policybazaar, MapmyIndia (CE Info Systems) and Paytm are facing similar trends too.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing Price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current Price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change since Dec 31<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹116 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹92.95<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-34%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,001 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,776 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,950 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹921 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,150 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹822 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapmyIndia<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,581<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,502 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.4%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EaseMyTrip<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹212.25 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹543 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+7.20%<br /><br /></td></tr></tbody><tbody></tbody></table>Note: Share price at 11:06 am on January 24<br />Source: BSE<br /><br />The shares of beauty and cosmetics ecommerce company Nykaa hit an all-time low as its shares fell down to ₹1,776 on Monday. The shares of Nykaa have shed 30% of their value from the record high of ₹2,574 touched on November 26. <br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q3-fy22-profit-revenue-subscriber-growth/articleshow/89034299.cms">Reliance Jio is making the most money it has ever made from its subscribers</a><br /><a href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a><br /><a href="https://www.businessinsider.in/business/telecom/news/we-finally-know-why-the-vodafone-idea-stock-rallied-over-50-in-the-last-one-month/articleshow/88311430.cms">We finally know why the Vodafone Idea stock rallied over 50% in the last one month</a><br />

There are huge discounts on Nykaa, Zomato and shares of other listed tech startups

<ul><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s IPO surpasses Coal India’s IPO that was executed in October 2010.</li><li>Paytm’s GMP was at <a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms" data-type="tilCustomLink"> ₹20  lower than the issue price of  ₹2,150</a>, on November 17.</li><li>The company listed at a market cap of $17 billion, even though it sought a valuation of $19.9 billion. </li><li>The Vijay Shekhar Shama-led company has raised ₹18,300 crore through this public issue.</li></ul><keyword id="181441" type="General" weightage="20" keywordseo="One97-communications" source="Orion">One97 Communications</keyword>, the parent of the digital payments giant Paytm, made its debut on the stock exchange on Thursday at ₹1,955 on the Bombay Stock Exchange. This is 9% lower than the issue price of ₹2,150. And, analysts at Macquarie have warned that the stock may go down a lot more before it becomes attractive. <br /><br />Analysts at Macquarie, a global investment bank, have set the target price for Paytm at ₹1,200, that’s 44% below the price at which IPO investors got their shares. Macquarie cited the high price of the IPO and the intense competition from the likes of Amazon, Google and Flipkart for its pessimism around Paytm.<br /><br />“People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” said One97 Communications founder and chief executive (CEO) Vijay Shekhar Sharma in his address before the listing ceremony at the BombayStock Exchange.<br /><br />Paytm's shares were trading at ₹1,673 at 12:22 p.m., a discount of nearly 22%. The closing price for November 18 was ₹1564, which is 27% below the issue price.<br /><br /><strong>Paytm is still bigger than Britannia, Bajaj Auto and Zomato<br /></strong><br />The Noida-based Paytm listed at a market cap of ₹1,26,737 crore ($17 billion), which is nearly $3 billion lower than the $19.3 billion-$19.9 billion valuation of the public issue. <br /><br />The fear around the price had set in long before the listing. Paytm’s grey market premium (GMP) — a price at which the share prices are being traded at in the grey market — tumbled down from ₹130 on the first day of bidding on November 8 to a negative ₹30 on Wednesday (November 17). <br /><br />This means that the traders in the grey market are willing to buy the shares at ₹2,130, about ₹20 lower than the issue price.<br /><br />The initial public offering (IPO) by Paytm — owned by Vijay Shekhar Sharma-led One97Communication — is the biggest public issue India has ever witnessed and it surpassed Coal India’s public issue worth ₹15,000 crore executed a decade ago.<br /><br /><div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar Sharma" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="2066" retweetcount="103" status="Man, I can feel for our cricket team! So many messages, wishes, &amp; kind words. Feels like carrying the hopes and as… https://t.co/B4Wtq8SBiK" createdat="1637199725000" id="1461147669900922888"></div><br />The company has raised ₹18,300 crore from this public issue, of which ₹8,300 crore was raised as a fresh issue. The remaining ₹10,000 crore was raised as offer for sale (OfS), giving partial exits to Alibaba’s Ant Group, Softbank and others.<br /><strong><br />Experts ask investors to wait it out before investing in Paytm's shares</strong><br /><br />Fresh investors should not invest in Paytm at the moment but wait for another 15 days for the stock to consolidate, Kranthi Bathini, Director - Equity strategy at WealthMills securities, told Business Insider.<br /><br />“Serious investors need to wait for a couple of earning quarters and not jump into stocks like what happened in Nykaa,” he added.<br /><br />Nykaa — which had a stellar debut on the stock market last week — crossed the ₹1 lakh crore market cap on the first day of listing. However, the company’s revenue declined to <a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms">₹1.2 crore in the July to September quarter,</a> which is significantly lower than ₹27 crore it reported in the same quarter last year.<br /><br />Paytm received bids for 9.11 crore shares versus the 4.83 crore shares up for sale, which means that the issue was oversubscribed by 1.8X. About a third of Paytm’s IPO shares were undersubscribed<a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms"> until the second half of the third day of bidding</a>, on November 10. And, the grey market price of the shares kept declining.<br /><br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue Size<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bids Received <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.83 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 9.11 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">147 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.64 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">216 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.45 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.24 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71.40 lakh <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">217.26 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 2,751 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71.92 crore<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Source: Stock exchange <br /><br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms" data-type="tilCustomLink">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms">INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy</a><br /><br /><br />

Paytm's shares fall 27% on the first day of listing and it may fall even further, warn analysts

<ul><li><strong>The capital raised would be used for working capital requirements of the company .</strong></li><li><strong><keyword id="127786" type="General" weightage="100" keywordseo="wabag" source="Orion">WABAG</keyword> has developed three dedicated research and development centres in Austria, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, and Switzerland.</strong></li><li><strong>This would be Asian Development Bank's first investment in a water sector company in the country.</strong></li></ul><br />Water treatment player <keyword id="175402" type="General" weightage="50" keywordseo="va-tech-wabag-ltd" source="Orion">Va Tech WABAG Ltd</keyword> has signed an agreement with Asian Development Bank to raise Rs 200 crore through unlisted non-convertible debentures, the company said on Friday. This would be Asian Development Bank's first investment in a water sector company in the country. <br /><br />"..signed an agreement with Asian Development Bank towards raising Rs 200 crore through unlisted non-convertible debentures carrying a five year and three months tenure which will be subscribed by <keyword id="6355976" type="General" weightage="80" keywordseo="adb" source="Orion">ADB</keyword> over 12 months," Va Tech WABAG said in a statement. <br /><br />The capital raised would be used for working capital requirements of the company and would be within the current borrowing limits thereby not increasing the debt-level of the company, it said. <br /><br />"This is an important milestone for WABAG, as we add another feather to our cap with this strategic funding tie-up with ADB. ADB's decision to collaborate with WABAG, in their first private sector water investment in India, is a key validation of its leadership," said chief financial officer of the company <keyword id="15622768" type="General" weightage="50" keywordseo="skandaprasad-seetharaman" source="Orion">Skandaprasad Seetharaman</keyword>. <br /><br />"This is, indeed, a great moment for us to be directly associated with ADB, showing ADB's confidence in WABAG's credibility and credentials in the water sector," he said. <br /><br />WABAG has developed three dedicated research and development centres in Austria, India, and Switzerland. <br /><br />ADB (private sector operations) director general <keyword id="15413964" type="General" weightage="50" keywordseo="suzanne-gaboury" source="Orion">Suzanne Gaboury</keyword> said, "This project is ADB's first private sector financing in India's water sector and will help to crowd in urgently needed international and domestic financing for the sector to ease water stress as demand increases." <br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-pauses-onboarding-of-online-merchants-by-paytm-payments-services-firm-says-no-material-impact-on-biz/articleshow/95780851.cms">RBI pauses onboarding of online merchants by Paytm Payments Services; firm says no material impact on biz</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/heres-what-the-governments-new-norms-to-curb-fake-online-reviews-ratings-include/articleshow/95757857.cms">Here's what the government's new norms to curb fake online reviews &amp; ratings include</a>

You Searched For "policybazaar market cap" and got 10 results

PolicyBazaar starts trading at a premium of over 17%

Kritti Bhalla

Info Edge has lost over $1.2 billion on its investment in Zomato, PolicyBazaar

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Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

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Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing

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Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO

Kritti Bhalla

Nykaa starts trading at ₹2,001, a premium of 77.87%

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New age tech stocks Zomato, Paytm and PolicyBazaar buzzing in early trade as investors hope for a tech-friendly Union Budget

Kritti Bhalla

There are huge discounts on Nykaa, Zomato and shares of other listed tech startups

Kritti Bhalla

Paytm's shares fall 27% on the first day of listing and it may fall even further, warn analysts

Kritti Bhalla

ADB, Wabag sign USD 25 mn debt facility for sanitation, water security in India

PTI

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