Lenskart, Ather, and Bluestone are among the major losers as the market plummets recently listed startup firms.
New-Age Stocks Slide as Markets Crash; Sensex Tanks Over
1,900 Points
Shares of recently listed new-age companies came under sharp
pressure on Monday, tracking a broad-based sell-off in Indian equity markets
amid rising global uncertainties.
Benchmark indices witnessed a steep fall, with the BSE
Sensex plunging more than 1,900 points, while the Nifty 50 dropped over 600
points to settle below the key 22,500 mark.
The decline was driven by escalating geopolitical tensions,
weak global growth signals, and continued pressure on the Indian currency.
How New-Age IPO Stocks Performed
A majority of recently listed tech and consumer internet
companies ended the session in the red:
- Lenskart
fell around 6% to close at ₹498
- Groww
was among the few gainers, rising 0.62% to ₹162.2
- Meesho
declined 1.83% to ₹141.95
- Pine
Labs dropped 3.13% to ₹159.35
- PhysicsWallah
slipped 3.31% to ₹86.89
- Ather
Energy lost nearly 4.5% to ₹748.45
- Urban
Company declined 3.51% to ₹110
- BlueStone
fell 6.38% to ₹511.90
- Wakefit
dropped करीब 4% to ₹155
- Shadowfax
Technologies slipped 1.21% to ₹110.60
- Capillary
Technologies fell 5.9% to ₹476.70
- Amagi
Labs declined 2.56% to ₹337.50
- Fractal
Analytics dropped 2.9% to ₹799
What Triggered the Market Sell-Off?
Multiple global and domestic factors weighed on investor
sentiment:
- Rising
geopolitical tensions: Fresh escalation involving Iran, the United
States, and Israel pushed oil prices higher
- Weakening
rupee: The Indian currency hit a record low of 93.95 against the US
dollar, extending recent losses
- Foreign
investor outflows: Global funds continued to pull money out of Indian
equities amid a broader risk-off environment
IPO Plans Face Uncertainty
The volatile market conditions are also impacting upcoming
public listings by new-age companies.
Recently, PhonePe postponed its planned $1.3 billion IPO,
citing market instability and valuation concerns. The move is expected to
influence timelines for several startups planning to go public.
Companies such as Zepto, Oyo, Flipkart, Razorpay, Infra.Market,
and Acko are among those evaluating IPO plans over the next year.
