Why Nykaa shares are bleeding despite bonus announcement

Published By Livemint | 25 Oct, 2022
Nykaa shares fell below its IPO issue price on Tuesday
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Nykaa hit a low of 1,109, trading below its issue price of 1,125
Credit : istock
Nykaa shares got listed in November last year 
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The stock is under pressure as the end of IPO anchor lock-in nears
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Anchor investors’ lock-in period will expire on November 10
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For IPOs that were last November, locking was a year
Earlier this month, Nykaa announced bonus issue in 1:5 ratio
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The stock has declined more than 52% since its market debut
Credit : freepik