Seeing the fate of Paytm, Zomato, these companies pulled their hands, postponed their IPO

Seeing the fate of Paytm, Zomato, these companies pulled their hands, postponed their IPO

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New Delhi. In the midst of the IPO boom in the Indian stock market, some companies are also postponing their plans by taking lessons. Oyo Hotels and Delhivery have postponed the date of their IPO after seeing the fate of Paytm and Zomato, which were listed in a big way.

Actually, Paytm and Zomato were listed at a much higher premium than their offer price. Not only this, both the stocks also reached more than one and a half times returns in a short time, but the recent fall in the market made the condition of both the stocks dilute. Seeing such a rebound in the market, online hotel booking startup Oyo and logistics startup Delhivery have postponed their IPO for some time.

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Now Delhivery’s IPO will come in April
An official related to the matter said that the logistics startup Delhivery’s Honor was still preparing to launch an IPO of $ 1 billion (Rs 7.5 thousand crore) in March. The company is now reviewing its listing plan and can bring it to the market with a delay of one month i.e. from April. SoftBank and Carlyle Group also have stake in Delhivery.

Many troubles in front of Oyo, questions on valuation too
Oyo had submitted documents for its $1.3 billion IPO with SEBI last year. However, after this there was a big fall in the company’s shares and questions were raised about its valuation and ownership. The company, which is adorned with stalwart investors like Sequoia Capital and Soft Bank, has been waiting for the green signal for more than 5 months.

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Poor performance of IPO in 2022
Bloomberg has said in a report that Indian IPOs have had a poor performance so far in 2022. In 2019, the IPO gave a return of about 42 percent, then in 2020 the return reached around 30 percent. In 2021, the return of more than 50 percent came, but so far this year there is a decline of 7.70 percent. Paytm shares are trading 60 per cent below its IPO price.

Tags: IPO, Share market, Zomato

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