Archive · 20 Aug 2025
Indian New-Age IPOs: Performance Analysis Reveals Mixed Results
Over the past five years, many new companies in India went public by selling shares (IPOs).
A study shows that early investors in these companies didn't always make money.
While some saw profits initially, many stocks didn't do well later.
Some companies like Zomato and PolicyBazaar did well, while others like Paytm and Mobikwik lost value.
The study suggests that the market now cares more about whether companies make money, not just how fast they grow.
Analysis reveals a mixed performance of new-age IPOs in India between 2020 and 2025.
Pre-IPO investors saw varied returns, with some experiencing significant losses.
Listing gains were common, but they didn't guarantee long-term success for investors.
Post-listing performance was challenging, with many stocks declining in value.
The market has shifted from growth-focused to profitability-focused investment.
- Who
- Investors and companies that went public.
- What
- Analysis of new-age IPO performance.
- When
- Between May 2020 and June 2025.
- Where
- India
- Why
- To assess the success of IPOs and provide lessons for investors.
- Report Author
- Client Associates
- Period Analyzed
- May 2020 - June 2025
- Companies Studied
- 25 venture capital and private equity-backed companies
- Zomato Return
- 52.49%
- Paytm Return
- -14.73%
- Awfis Return
- 63.09%
- Mobikwik Return
- -29.66%
Sources
Oversubscribed IPOs — Have retail investors burnt their fingers over the years?
HDB Financial Vs Bajaj Finance: Which is a better NBFC bet now? From financials to market moves, 5 key factors revealed
2025 IPO Boom: From blockbusters to quiet debuts, 5 big shifts driving India’s most watched public issues
Pre-IPO investors did not always rake in the moolah
Day one gains fade fast: Study finds just 36% of new age IPOs deliver long term alpha
