At 12:40 pm, the S&P BSE IPO index was down 3.7 per cent, as compared to 1.6 per cent decline in the S&P BSE Sensex.
Individually, shares of One97 Communications tanked 19 per cent to Rs 1,271 on the BSE, extending its 27 per cent decline on Thursday.
The company has a huge customer base with strong brand positioning and it has an early mover advantage in digital payment services however it is still a loss-making company and very aggressively priced therefore we saw a tepid response in terms of subscriptions.
Fino Payments Bank is a fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus.
Besides Fino Payments Bank and SJS Enterprises, total seven recently listed IPOs were trading at their lowest level since their respective listing dates.
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