One Mobikwik Techniques, a fintech firm which presents digital pockets providers, has seen its value erode by 53% this 12 months. A blockbuster debut on December 18, 2024 noticed the inventory get listed at Rs 442.25, a 59% premium over the problem value of Rs 279. At present One Mobikwik Techniques share is 60% decrease from its all-time excessive of Rs 698 and was final buying and selling beneath the IPO value at Rs 276 on Monday.
Roughly, the destiny of most new-age shares or web scrips has been comparable. Take for instance, Brainbees Options, Unicommerce eSolutions and Ola Electrical Mobility, which created a number of buzz on the time of their preliminary public choices (IPOs). All three counters had been listed in August 2024 and have corrected by 42%, 37% and 34%, respectively as on March 3, 2025. They’re now hovering beneath their situation costs.
Notably, Brainbees Options, which operates ‘Firstcry’ was listed at a premium of 34% on the BSE whereas Unicommerce eSolutions made its debut at a stellar 113% premium. In the meantime, Ola Electrical had a flat itemizing.
Swiggy, which was listed in November, has fallen 40% this 12 months as on Monday, March 3, 2025. It was listed at Rs 412, a 5.6% premium over the problem value of Rs 390.
In the meantime counters like FSN E-Commerce Ventures (Nykaa), Honasa Client (mamaearth), Zomato, Simple Journey Planners (EaseMyTrip), Delhivery, One 97 Communications (Paytm) and PB Fintech (Policybazaar), have declined between 47% and three% in 2025.Out of the above 14 new-age shares which have been analysed by ETMarkets, 10 listed above their situation costs, two beneath and the remaining two flat.Additionally Learn: As much as 33% month-to-month fall! Battered & bruised IT, auto, pharma shares have a Trump hand
CarTrade Tech and Paytm listed beneath their IPO value whereas Mamaearth was flat on its debut. CarTrade Tech is the lone gainer this 12 months, with a marginal 1.4% uptick.
Q3 earnings
In a observe, JM Monetary mentioned that 60% web corporations missed their Q3 estimates and the PAT was 75% decrease than what this brokerage had estimated. The sector additionally witnessed its weakest (-16%) YoY EPS efficiency.
The income development for web corporations stood at 38% versus estimates of 41%, mentioned a separate observe by Nuvama Institutional Equities.
Meals supply platform Zomato reported a 57% drop in its December quarter web revenue even because the income jumped 64%. The corporate admitted to a broad-based slowdown in demand since November.
Likewise, rival Swiggy widened loss although its income jumped 31%.
Ola Electrical additionally widened its quarterly losses on a YoY foundation whereas Paytm reported losses which had been decrease on a YoY foundation. Each Ola and Paytm additionally reported drops of their toplines.
Valuations
Basic skilled Kranthi Bathini, Director-Fairness Technique at WealthMills Securities, mentioned that every one these new-age corporations are pricier and had generated traders’ curiosity based mostly on their enterprise fashions and promise of future development.
Whereas they’re disrupters of their respective fields, inventory costs are slaves to earnings and it was about time actuality caught up, Bathini mentioned.
Within the pack, he stays constructive about Zomato, Honasa Client, Brainbees and Delhivery within the pecking order. Nevertheless, he warns that these shares needs to be purchased for long run view and by traders who’ve a excessive danger urge for food.
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For FY26E, the topline development is estimated at 31% whereas the online revenue development at 47% by Nuvama.
This brokerage additionally has an EPS downgrade on Zomato (-69%) and Delhivery (-34%).
IIFL has lowered its ranking on Zomato to “Add’ from ‘Purchase’ earlier.
(Disclaimer: Suggestions, options, views and opinions given by the specialists are their very own. These don’t symbolize the views of Financial Instances)
