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<ul><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> stock fell this entire week, and hit an all-time low on Wednesday at ₹123.3.</li><li>The stock has been plunging since the last six months, with a 45% fall during the period.</li><li>Analysts say that most overvalued stocks, especially those of new-age companies, are under pressure.</li></ul>The stock of FSN E-Commerce Ventures, parent company of Nykaa has tumbled this entire week, and hit an all-time low on Wednesday at ₹123.3. The stock of this online retailer of beauty and fashion products slipped over 13% in the last five sessions. It has been plunging for the last six months, with a 45% fall during the period. Analysts believe that the recent correction is because of volatile market conditions ahead of the Union Budget, amid ongoing corporate earnings and weak cues from global markets that are urging investors to leave overvalued stocks. The list of such stocks also includes other new age companies like Zomato, Policybazaar and Paytm. “I don’t think that Nykaa’s fall in the last 5-6 sessions specifically has its own story. I believe the volatile market environment given we are also at a cusp of the Budget is leading to sharp correction in stocks that are overvalued. These include stocks like Nykaa which are not valued correctly and hence they tend to fall,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider India. She added, “The situation is not specific to Nykaa, it is happening with other overvalued stocks as well like Zomato that also fell during the period. Such sudden falls have happened in the past as well.” Equity markets have been choppy and volatile this entire week, as investors have been reacting to the Q3 earnings, while factoring in budget expectations. Sensex gained 0.5% while Nifty50 went up just 0.28% in the last five days. In the last five sessions, Zomato and PB Fintech (Policybazaar) too slid by 6%. Meanwhile, Paytm has fallen 2%. Lock-ins and effects Shares of <a href="https://www.businessinsider.in/stock-market/news/four-new-age-company-stocks-turn-volatile-post-end-to-lock-in-period/articleshow/95583789.cms">new age companies have already been under pressure </a>since November 2022 as their lock-in periods for pre-IPO investors to sell their shares ended. An IPO lock-in period is a time span post listing during which pre-IPO investors are not eligible to sell their shares. The lock-in period of Nykaa ended on November 10. However, the fall in the company’s stock was limited as the board had announced a share bonus (5 shares for every 1 share held). The company is yet to release its December quarter earnings. “Apparently there is no particular reason for the sharp fall but factors like impending competition, December quarter numbers which may not be good, sell off by pre IPO investors, tired IPO investors selling are leading to sell off. Large scale companies are entering this space like RIL, Adani may also enter in some time. And the expectations that the topline may not be growing as they would have hoped could be another reason for fall,” said an analyst who did not wish to be named. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/nykaas-fashion-foray-and-pipeline-style-biz-model-worries-analysts/articleshow/95405203.cms">Nykaa’s fashion foray and pipeline-style biz model worries analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/brides-buy-half-of-all-gold-jewellery-sold-in-india-says-world-gold-council-report/articleshow/97168432.cms">Brides buy half of all gold jewellery sold in India says World Gold Council report</a>

Nykaa plunges to all-time low; analysts say overvalued stocks hit most during volatile markets

<ul><li>The online insurance broker’s stock tanked by around 12% as CEO Yashish Dahiya plans to sell up to 37.69 lakh lakh equity shares.</li><li>Dahiya holds 5.45% stake or 2.45 crore shares in the company.</li><li>Investor sentiment took a huge hit after the company announced that the CEO itself is selling stake amid difficult market conditions.</li></ul>Shares of PB Fintech, the parent company of <keyword id="696009" type="General" weightage="20" keywordseo="Policybazaar" source="Orion">PolicyBazaar</keyword> and PaisaBazaar, took a deep dive after the company’s CEO sold his shares. The company informed exchanges at around 10 pm on June 6 that Yashish Dahiya, chairman and CEO of PB Fintech will sell up to 37 lakh equity shares via bulk deals. Since then, the stock went down by over 12% and its marketcap shrunk by around ₹3,000 crore or around $400 million since yesterday’ close, as per NSE data. Before the sale, Dahiya held a 5.45% stake in the company, which he received as ESOPs. Dahiya however would be selling his stake at a price lower than the company’s founders. In February, the co-founder of the company Alok Bansal sold 2.85 million shares for ₹236 crore at an average price of ₹825 apiece. In 2022 so far, the stock has slid 52% and is currently 40% below its IPO price. PolicyBazaar raised ₹5,709 crore via IPO in November 2021 which included fresh issue as well as offer for sale by promoters. Policybazaar is among the slew of tech companies that got listed in 2021 -- Zomato, Paytm and Nykaa. Unlike most of the companies that listed this year, PolicyBazaar’s investors enjoyed good listing gains of 17% on the issue price. PB Fintech’s business model to enjoy higher growth than other insurance players Analysts however believe the company is well placed to benefit from the rising insurance penetration in India, especially via digital distribution. “High growth, operating leverage, strong balance sheet and established brand recall among the Indian populace are its key business moats. This should help the company generate strong free cash flows as we expect its cost-to-income ratio to plateau ahead,” said a report by ICICI Securities. The brokerage expects the share price to grow to ₹940 per share. In FY20, PolicyBazaar was India’s largest digital insurance marketplace with 93% market share in terms of the number of policies sold. Also, 65% of all digital insurance sales in India in FY20 happened via PolicyBazaar. PolicyBazaar is largely into individual life insurance, retail health and motor insurance. This reflects in its overall revenues that doubled in three years between FY19 to FY21 at ₹606.9 crore. PolicyBazaar and PaisaBazaar platforms have large networks that provide consumers with the ability to browse financial service products offered by 51 insurer partners and 54 lending partners. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/paytm-could-be-entering-a-low-cost-high-profit-margin-regime-say-a-brokerage-firm/articleshow/92054964.cms">PayTM could be entering a low cost-high profit margin regime, say a brokerage firm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a>

Policybazaar’s value shrinks by around $400 mn in a day after its CEO sells shares

<ul><li>Brokerage house ICICI Securities has issued a buy call for the shares of <keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword>.</li><li>The target price continues to be lower than the price at which PB Fintech’s shares were allotted in the IPO.</li><li>PB Fintech’s shares have dropped nearly 431% since its listing in November last year.</li></ul>Brokerage house ICICI Securities on Monday issued a buy call for the shares of PB Fintech, the parent company of <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> and PaisaBazaar, with a target price of ₹940. “PB Fintech is well placed to benefit from the rising insurance penetration in India, especially through digital distribution. High growth, operating leverage, strong balance sheet and established brand recall among the Indian populace are its key business moats. This should help the company generate strong free cash flows as we expect its cost-to-income ratio to plateau ahead,” the brokerage house said. PB Fintech (formerly known as EtechAces Marketing and Consulting) was founded by the Indian Institute of Technology (IIT) Delhi and Indian Institute of Management (IIM) Ahmedabad alumni Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in 2008. PB Fintech went public in November 2021, a few days before digital payments giant Paytm. The company listed on the stock exchange at a premium of 17%, at ₹1200, over the issue price of ₹980. The company’s market cap reached <a href="https://www.businessinsider.in/stock-market/news/policybazaar-starts-trading-at-1150-a-premium-of-17/articleshow/87708748.cms">$7.3 billion</a> on the day of listing. However, the company’s shares have largely been on a downward trajectory since then. PB Fintech’s shares have dropped nearly 431% since its listing and were trading at ₹771.9 at 2:15 p.m. on Monday. <div type="image" title="ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price" msid="90909894" hostid="261"></div> PolicyBazaar, an online platform for users to purchase insurance policies, is one of the largest subsidiaries of PB Fintech. The insurance company owns 93.4% market share in India, in terms of the number of policies sold online. Six in 10 instance sales in India in FY20 happened through PolicyBazaar, the report added. ICICI Securities highlighted that the prime growth driver for PB Fintech would be the increasing premium income expected in online insurance. PolicyBazaar’s addressable market has largely been individual life insurance, retail health, and motor insurance. <div type="image" title="ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price" msid="90909901" hostid="261"></div> Other subsidiaries of PB Fintech include online lending platform PaisaBazaar (launched in 2014) and healthtech venture <a href="https://inc42.com/buzz/policybazaar-looks-to-tap-softbanks-portfolio-companies-for-docprime/">DocPrime</a> (launched in 2018), which lets visitors book consultations with doctors or schedule a range of medical tests. PaisaBazaar was India’s largest digital consumer credit marketplace with a 51.4% market share, based on disbursals. Other major players in the digital consumer credit marketplace include BankBazaar and CreditMantri, according to ICICI Securities. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-and-swiggy-are-now-backing-restaurant-management-company-urbanpiper/articleshow/90908052.cms" data-type="tilCustomLink">Zomato and Swiggy invest in this restaurant management company that fulfils 2 in 10 food deliveries in India</a> <a href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms" data-type="tilCustomLink">Extreme Poverty in India declined 12% in the last decade, says World Bank</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-infosys-tata-power-among-stocks-to-watch-out-for-on-april-18/slidelist/90902769.cms">HDFC Bank, Infosys, Tata Power among stocks to watch out for on April 18</a>

ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price

<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. 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. 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. <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;"> </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 </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 </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 </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 </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 </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) </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. </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 </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. 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. 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. Info Edge is also an investor in other initial public offering (IPO)-bound companies like ixigo and Shiprocket. 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. <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 </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 </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 </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% </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 </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% </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) </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% </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) </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% </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) </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% </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 </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% </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 </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% </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 </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% </td></tr></tbody><tbody></tbody></table>Source: Bombay Stock Exchange 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. 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. Info Edge’s share price also fell nearly 32% since the start of this year. SEE ALSO <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> <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> <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>

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

<ul><li>New-age startups Zomato, PolicyBazaar, Nykaa and Paytm came under extensive selling pressure as Indian stock exchanges fell nearly 2%.</li><li>Shares of these companies fell in the range of 3-6%, with the market cap cratering by ₹6,219 crore (approx. $810 million).</li><li>Nykaa witnessed the highest fall in its share price as it lost $577 million in market cap.</li><li>It is followed by Zomato that lost $264 million in market cap due to a 3.92% decrease in its share price.</li></ul>Share prices of all new-age startups — Zomato, PolicyBazaar, Nykaa and Paytm — witnessed a major fall during early morning trade on Friday. All these shares fell in the range of 3-6%, cumulatively losing out on market cap of ₹6,219 (approximately $810 million). Nykaa, which is run by FSN E-Commerce Ventures Limited, witnessed the biggest fall in its share price. The company was trading at ₹1499.95 at 9:52 am, which is a decline of 5.86% compared to the previous close. The company lost ₹4,426.64 crore (close to $577 million) in market cap in the same time frame. It is followed by Zomato that lost ₹1,890 crore ($264 million) in market cap due to a 3.92% decrease in its share price. The company was trading at ₹58.85 at 9:52 a.m. on May 6. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;"> Shares </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Share Price </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Change* </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Market cap today* </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Change in market cap since last close* </th></tr></thead><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;">Nykaa </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;">₹1499.95 </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;">-5.86% </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;">₹71,113.36 crore </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;">- ₹4,426.64 crore </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 </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;">₹604.25 </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;">-3.98% </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;">₹27,183.50 crore </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;">- ₹1,040.50 crore </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 </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;">₹58.85 </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;">-3.92% </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;">₹46,326.32 crore </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;">- ₹1,890 crore </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 </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;">₹558.00 </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;">-2.52% </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;">₹36,465.70 crore </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;">- ₹942 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*As on 9:52 a.m. on May 6, 2022 Source: BSE 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. Each of these stocks have lost a significant chunk of their market cap and have largely been facing a downwards trend since the start of this year. According to Bombay Stock Exchange, Zomato’s share price has slumped nearly 60% since this year, wiping out nearly ₹64,000 crore in investor wealth in the process. Similarly, PB Fintech — the parent company of PolicyBazaar and PaisaBazaar — has lost roughly 37% of its value since January 3, the first day of trading in 2022. One97 Communications, the parent company of Paytm, was anyway <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 worse for the company, which lost 58.06% of its share price and market cap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021. <div type="javascript" title="CardPage" contenttype="Image"><cdata><![CDATA[]]></cdata></div> 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. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty-50-tank-nearly-2-and-here-are-the-top-losers-in-it-banking-and-other-sectors/articleshow/91363804.cms">Indian stock markets tank nearly 2% — here are the top losers in IT, Banking and other sectors</a> <a href="https://www.businessinsider.in/stock-market/news/ril-tvs-motor-voltas-among-stocks-to-watch-out-for-on-may-6/slidelist/91362043.cms" data-type="tilCustomLink">RIL, TVS Motor, Voltas among stocks to watch out for on May 6</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a>

New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore

A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party

<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. 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. The pre-open price of this IPO was ₹1,200 at 9:38 AM. 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. 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. The cost of each lot was ₹14,700 at ₹980 a share. 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. 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. 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. 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). SEE ALSO <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> <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> <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>

PolicyBazaar starts trading at a premium of over 17%

Here's why Policybazaar founders chose to go public

<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). 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%. 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. 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. 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. 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. “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>. SEE ALSO: <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> <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> <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>

You Searched For "policybazaar shares" and got 9 results

Nykaa plunges to all-time low; analysts say overvalued stocks hit most during volatile markets

Bhakti Makwana

Policybazaar’s value shrinks by around $400 mn in a day after its CEO sells shares

Bhakti Makwana

ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price

Kritti Bhalla

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

Kritti Bhalla

New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore

Kritti Bhalla

A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party

Rounak Jain

PolicyBazaar starts trading at a premium of over 17%

Kritti Bhalla

Here's why Policybazaar founders chose to go public

Business Insider India

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

Kritti Bhalla

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