BMW Ventures, Om Freight, Glottis IPOs sink after listing; stocks crash up to 40 pc
MUMBAI: Investor excitement over recent IPOs has quickly turned into disappointment as newly listed stocks -- BMW Ventures, Om Freight Forwarders, and Glottis Limited -- have seen steep declines soon after debut.
MUMBAI: Investor excitement over recent IPOs has quickly turned into disappointment as newly listed stocks -- BMW Ventures, Om Freight Forwarders, and Glottis Limited -- have seen steep declines soon after debut.
Despite healthy subscription numbers, all three companies have suffered heavy losses on Dalal Street, with their shares plunging between 35 and 40 per cent within days of listing.
Om Freight Forwarders Limited made its market debut on October 8, but the excitement quickly faded.
The stock was listed at a 39 per cent discount against its issue price of Rs 135 per share and ended the day 36 per cent lower.
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