From Swiggy to ACME Solar: 5 recent IPOs trading below their issue price; check list

The recent mayhem in the Indian stock markets has left no one unharmed. From large-caps to small-caps, stocks across sectors have faced the wrath of the massive selloff triggered by global uncertainties.

Year-to-date in 2025, the benchmark equity indices SENSEX and NIFTY have lost 3.5%. Some of the newly listed stocks have also become a victim of the decline in the broader market. The prices of several stocks are now trading below their issue price, erasing the entire premium seen after their listing.

Here are the five key stocks that created a lot of buzz around their debut in the past few months but are now trading below their IPO price:

Swiggy IPO

The food delivery company made a promising debut on November 13, 2024, listing at an 8% premium over the issue price of ₹390. The ₹11,300-crore IPO was oversubscribed by 3.6 times, a decent number given its size.

However, the stock has dropped to ₹333 levels as of February 14. This is 14.6% lower than the IPO price and a massive 46% drop from its all-time high of ₹617.3, seen on December 23, 2024.

The stock was also under pressure following the expiry of the lock-in period for anchor investors. An additional 65.2 million Swiggy shares, or 3% equity of the company, became tradable on February 10 after the three-month lock-in ended.

ACME Solar IPO

As of February 14, ACME Solar shares are trading at around ₹183 levels, down 36.7% from the IPO price.

Shares of ACME Solar have been under pressure as investors started booking profits in the renewable energy stocks after the pre-budget rally.

The share price did not even benefit from solid Q3FY25 numbers. Its net profit surged 155% in the December quarter to ₹112 crore, compared to ₹44 crore in the year-ago period. Revenue from operations rose 5% to ₹349 crore in Q3FY25, compared to ₹332 crore in the same period a year ago.

Suraksha Diagnostic IPO

The stock trades at ₹300 levels, 32% lower than the issue price.

The company recently announced that its consolidated net profit rose 32.3% to ₹6.15 crore in Q3 FY25 as against ₹4.65 crore during the year-ago quarter. Sales rose 14.8% to ₹59.51 crore in the December quarter as against ₹51.82 crore a year ago.

Afcons Infrastructure IPO

The stock trades around ₹425 levels, which is 8.2% lower than the issue price but still flat compared to the listing price of ₹426 on NSE.

The company’s net profit surged 36% to ₹148.9 crore in the December quarter compared to ₹109.7 crore for the same period last year. Revenue grew 2.7% to ₹3,211.1 crore for Q3 FY25 as against ₹3,125.7 crore for Q3 FY24.

Carraro India IPO

Carraro India shares are currently trading around ₹356, which is over 49% lower than the issue price.

In Q3FY25, Carraro India reported a 24% year-on-year decline in profit after tax (PAT) to ₹14.8 crore. Total income grew just 3% to ₹452.8 crore in Q3FY25 from ₹439.7 crore a year ago.