Wakefit shares slide after stock market debut, paring paper gains of founders and early investors

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With mattress and furniture maker Wakefit’s shares sliding after its tepid stock market debut on Monday, the company’s founders and early investors suffered a drop in their notional paper gains compared with levels implied when the IPO price band was announced.

Wakefit’s IPO price band was fixed between Rs 185-195. The stock opened at Rs 195 on the National Stock Exchange and slipped to Rs 177 within the first few hours of trading.

Cofounders Ankit Garg and Chaitanya Ramalingegowda hold 28.7% and 8.06% stakes in the company following the listing,…



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Wakefit shares slide after stock market debut, paring paper gains of founders and early investors



With mattress and furniture maker Wakefit’s shares sliding after its tepid stock market debut on Monday, the company’s founders and early investors suffered a drop in their notional paper gains compared with levels implied when the IPO price band was announced.

Wakefit’s IPO price band was fixed between Rs 185-195. The stock opened at Rs 195 on the National Stock Exchange and slipped to Rs 177 within the first few hours of trading.

Cofounders Ankit Garg and Chaitanya Ramalingegowda hold 28.7% and 8.06% stakes in the company following the listing,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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