Tech darling that rose 2,500% in 2021 now among India's worst performers

Corporate governance issues have turned shares of Brightcom Group Ltd. into one of India’s worst performers this year after a 2,500% surge in 2021.

The ad-tech firm’s stock has declined more than 70% in 2022, making it the worst performer on S&P BSE 500 Index, data compiled by Bloomberg shows. The slump started after a market regulator raised concerns that some of the company’s disclosures and financial transactions have been “detrimental” to investors.

The beating in the company’s shares has wiped away 129 billion rupees ($1.6 billion) in market value, especially hurting retail investors, who own a majority of