There are huge discounts on Nykaa, Zomato and shares of other listed tech startups

• Zomato's share price dipped another 10% on Monday, January 24.
• The company's shares were trading at ₹102 at 9:42 a.m.
• The company had fallen below its listing price on Friday.

The sell-off in Indian equity markets has taken the wind out of some of the hottest tech startups that got listed in the last few months. Most of them, including Zomato, Nykaa and PolicyBazaar, are trading way below their listing price and much of the gash has come in the last three weeks,

On January 24, one of the top losers in this basket was Zomato, which fell 18%. Analysts like Abhay Agarwal, founder and fund manager at Piper Serica, believe that this fall in the markets is driven primarily by market correction in Nasdaq over the last month.

The market cap of the food aggregator dropped to ₹74,109 crore (almost $10 billion) compared to the peak valuation of $15 billion on November 12.

It's not just Zomato, other tech companies like Policybazaar, MapmyIndia (CE Info Systems) and Paytm are facing similar trends too.
Note: Share price at 11:06 am on January 24
Source: BSE

The shares of beauty and cosmetics ecommerce company Nykaa hit an all-time low as its shares fell down to ₹1,776 on Monday. The shares of Nykaa have shed 30% of their value from the record high of ₹2,574 touched on November 26.

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