Naika's shares tumbled 15% in one month, below issue price

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AHMEDABAD: Popular beauty care brand Nayaka's share price touched a 52-week low in Tuesday's session. Investors are pulling out of Nayaka even before the end of the lock-in period of IPOs. Shares of Fesn E-Commerce Ventures fell 3 percent in intra-day trade on BSE on Tuesday to Rs. It reached a new low of 1107.20.

For the first time after the IPO, Nayaka's share issue price was Rs. 1125 per share has come down. This is the lowest level since the listing in November last year and Nayaka's shares have tumbled 15 per cent against a 3 per cent rise in the market in the last one month. In the last three months, the stock has fallen by 23 percent against the BSE Sensex's rise of 7 percent.

Talking about the highest level so far, recorded on November 26, 2021, Rs. Shares of Nayaka have fallen by 56 percent from their record high of 2574. The company made its debut in the stock market on November 10, 2021.

This comes at a time when the company has also announced its first bonus issue and tried to cheer up investors. On October 3, the company announced the issue of bonus shares in the ratio of 5:1. Even after this announcement, the stock has fallen by around 8 percent.

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