Marquee IPOs of FY25 face turbulence as valuations fall below expectations

The fiscal year 2025 witnessed a series of high-profile IPOs, including Swiggy, Ola Electric, Bajaj Housing Finance, NTPC Green Energy, and Vishal Mega Mart, raising over ₹4,000 crore each. However, most of these marquee IPOs are now trading below their listing prices, reflecting a significant decline in investor confidence.

Hyundai Motor's IPO, the largest in India's history at ₹27,870 crore, remains an exception, with shares trading marginally above the listing price. In contrast, Ola Electric has seen a 32% drop from its offer price, while Bajaj Housing Finance shares have fallen by 19% from their debut levels. Swiggy's stock has also declined by 20%, and NTPC Green Energy is down 10% from its listing price.

Analysts attribute the poor performance to lofty valuations and unmet growth expectations. The trend highlights the need for companies to align their IPO pricing with market fundamentals to regain investor trust.

Sources: Economic Times, Business Standard, Fortune India.