Investors seem to have fallen out of love with Zomato, Policybazaar, Nykaa, Paytm & even LIC
The euphoria over initial public offerings (IPOs) seems to have ended. It was only a year ago that brokerage firm Jefferies came out with a ‘buy’ recommendation on Zomato Ltd with a base case target price of ₹175 against the then market price of around ₹140. Recently though, valuation guru Aswath Damodaran said the stock was worth just ₹35 apiece.
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