After a stellar run last year, start-up stocks have hit a rough patch. Online food delivery major Zomato, which was valued at ₹1.3 lakh crore on the bourses last year, is now valued at ₹43,778 crore. Similarly, One 97 Communications—the parent firm of digital payments giant Paytm—was valued at ₹1.27 lakh crore last year; now, it is valued at ₹49,000 crore. It’s a similar story at PB Fintech or Policybazaar that has seen its value drop from over ₹66,000 crore to around ₹25,000 crore.
True, the stock markets have slipped and lost ground in the last one year or so. The benchmark BSE Sensex touched an all-time high of 62,245.43 on October 19, 2021, but is currently hovering around 58,500, a fall of around 6 per cent. But most start-ups and digital majors have slipped much more than the benchmarks.
So, there’s more than just the market bearishness. This slipping and sliding has not just affected the listed start-ups; it has, effectively, affected the whole ecosystem since there are many marquee names that have, or at least had, active plans of getting listed in the public markets.
“The post-listing performance of digital majors has put a spanner in the works for several other startups that were looking to list in the public markets last year and this year. The pipeline has vanished,” says Pranav Haldea, Managing Director of Prime Database, that tracks the markets.
هذه القصة مأخوذة من طبعة September 04, 2022 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 04, 2022 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
