Startups That Went Public This Year

Here is how 2021's IPO debutants performed at the stock market on day one

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2021 is coming to an end, but the pandemic is still very much around. We all have learned to live in the new normal and so have the businesses across the world. For many startups in India, 2021 has been a year of funding, unicorns and initial public offerings (IPOS). 

Canva

Around 10 startups including EaseMyTrip, Nazara, Zomato, CarTrade, Freshworks, Nykaa, Policybazaar, Paytm, RateGain and the latest addition, MapMyIndia, has gone public this year so far. There are 3 more companies including Data Patterns, Medplus Health and Metro Brands heading the same way before the year comes to a close. 

Here is a gist of how they scored on their debut in the stock markets. 

EaseMyTrip

Despite travel being one of the most affected sectors due to the pandemic, EaseMyTrip made its stock market debut on March 8 this year. The platform offers travel booking services such as flights, hotels, visa processing, among others. Shares worth INR 510 crore were issued, which was oversubscribed by 159 times. During the IPO, the company was valued at INR 2,040 crore. On day one of listing, it ended at INR 206.50, 10 per cent above its IPO price. 

Nazara

Nazara became the first Indian gaming firm to go public in March this year. The company made a strong debut with the stock ending 43 per cent over its IPO price. On the Bombay Stock Exchange (BSE), it was at INR 1,971, 81 per cent over the issue price of INR 1,101.

Zomato

The food delivery platform opened for subscription its INR 9,375-crore IPO, reportedly India's biggest since March 2020 by listing at INR 116 per share on the National Stock Exchange (NSE), nearly 53 per cent premium as against the issue price of  INR 76 per share. While some criticized Zomato IPO for being overpriced, most startup enthusiasts came out on social media with accolades for the food delivery Unicorn. 

CarTrade

The company’s IPO was oversubscribed 20.29 times on the closing day of the subscription on August 11. It was oversubscribed 1.53 times by retail individual investors at the end of its second day of subscription. The Mumbai-based auto marketplace made a weak debut as it got listed on the BSE at INR 1,600 and INR 1,599.80 on NSE against the issue price of INR 1,618 per share. 

Freshworks

This software-as-a-service (SaaS) giant's trading debut on the US stock exchange Nasdaq in September was the talk of the town. Shares of Freshworks opened at $43.5 per share on Nasdaq, up 21 per cent from the company's listing price of $36 per share. Freshworks is the first India SaaS firm to go public on the US stock exchanges. 

Nykaa

FSN E-Commerce, the parent company of Nykaa, made a stellar debut in November this year. Its shares went live on the stock exchanges with a premium of nearly 80 per cent. Its shares were listed at INR 2,018, 9.37 per cent than the issue price of INR 1,125, on the NSE. On the BSE, it was listed at INR 2,001 per share. 

Policybazaar

P.B. Fintech, the parent company of Policybazaar, was subscribed 16 times. It was listed on the stock exchanges at a 17.35 per cent premium than the issue price of INR 980. On both NSE and BSE, it got listed at INR 1,150 per share on November 15th. The strong market debut of the fintech firm was overall a strong one with a record subscription and interest from investors across all categories. 

Paytm

Paytm's shares crashed 26 per cent in its stock market debut. The dull response came as a shock as its it had a mega IPO a week before, the biggest ever in India. One97 Communications’ IPO, the parent company of Paytm, consisted of a fresh issue of INR 8,300 crore and an offer for sale (OFS) by existing shareholders of INR 10,000 crore. It was subscribed 1.89 times. The stock opened for trading at INR 1,950 on the NSE, marking a decline of 9.3 per cent from its issue price of INR 2,150. 

RateGain 

The traveltech startup made a weak debut on the stock exchanges on December 17th, 2021. It got listed with a discount of 15.29 per cent on NSE, where the shares got listed at INR 360, against the issue price of INR 425 per share. On the BSE, its shares got listed with a discount of 14.16 per cent at INR 364.80. Founded in 2004 by Chopra, the company offers SaaS tool to help hospitality companies streamline operations.

MapMyIndia

After Paytm's debacle at the stock market, the successful debut of C.E. Info Systems, the parent company of MapmyIndia came as a pleasant surprise. The digital mapping startup got listed with a premium of 53 per cent on the BSE at INR 1,581 per share, against the issue price of INR 1,033 and with a premium of 51.1 per cent at INR 1,565 per share on the NSE.

S Shanthi

Written By

Entrepreneur Staff

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. She is also a mom who looks forward to playing a game of cards with her tween daughter every evening after work.