Mumbai, Oct 9 (NationPress) The initial enthusiasm among investors regarding the latest IPOs has swiftly transformed into disillusionment, as the stocks of BMW Ventures, Om Freight Forwarders, and Glottis Limited have experienced significant drops shortly after their market entry.

Despite robust subscription figures, all three firms have faced substantial setbacks on Dalal Street, with share values plummeting between 35 and 40 percent just days post-listing.

Om Freight Forwarders Limited made its market entrance on October 8, but the initial thrill quickly diminished.

The stock debuted at a 39 percent discount compared to its issue price of Rs 135 per share and concluded its first trading day down 36 percent.

The Rs 122 crore IPO garnered positive investor interest, with an overall subscription rate of nearly four times, including retail investors subscribing more than double their allotted share.

Glottis Limited’s market debut fared no better. The stock, which went public a day prior to Om Freight, opened 35 percent below its issue price of Rs 129 per share and finished its first day significantly in the red.

Though there was a slight recovery on the second day, selling pressure soon returned, pushing the stock back to flat levels.

This IPO was subscribed 2.05 times, with retail investors achieving 1.42 times subscription.

BMW Ventures Limited also left investors disheartened with a lackluster market debut last week. The stock was initially priced at Rs 99 per share but opened at a 25 percent discount.

Since then, the stock has faced intense selling pressure, hitting lower circuit limits for four consecutive sessions.

By Wednesday, shares had dropped nearly 40 percent from their issue price. The IPO was subscribed 1.5 times overall, yet the retail segment did not achieve full subscription.

Over the past 13 trading sessions, more than 20 companies have been listed on the stock exchanges.

However, approximately two-thirds of these are now trading below their issue prices.