Big IPO winners in India take a beating in global equity selloff

India’s new stock listings are losing their edge as a worsening outlook for global equities leads investors to take profit from high-profile consumer technology stocks that debuted with inflated valuations. 
 

The S&P BSE IPO Index, which tracks firms for two years since their listing, has plunged about 10% since the start of the year and is headed for its worst month since March 2020 when the pandemic took hold. 

The slump comes on the back of fading risk appetite for equities as global central banks prepare to tighten monetary policy to quell inflation. In the U.S., more than two-thirds