80% of financial sector IPOs since four years trade below issue price

The fall, analysts say, has been on concerns that the financial industry has will be the worst hit among sectors, given the disruptions to the country's economic activity caused by Covid-19 outbreak.

Financial sector stocks have been among the hardest hit in the market meltdown since March triggered by the coronavirus (Covid-19) pandemic. The S&P BSE Finance index has declined 37.6 per cent in past two months, as compared to 26.4 per cent fall in the S&P BSE Sensex.

This sharp fall in equity markets led by financials has seen 13 out of 16 banks, non-banking financial companies (NBFCs) and other financial services companies that raised funds via the initial public offer (IPO) route in the past four year go below their respective issue price on the BSE. These 13 companies raised