These 5 tech companies including Paytm-Nykaa drowned investors, loss of 8 lakh crores only in Paytm

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one year Till earlier, New Age technology companies were popular in the market. From market experts to big brokerage houses Paytm-Nykaa were advising to invest in shares of companies like Zomato, Nykaa, Delhivery and Policybazaar. However, no one has said what is the future of these companies? How will these companies, which are standing at a loss of crores, come to profit? Now after one year, these companies have caused loss of lakhs of crores to their investors. Only investors who invested in Paytm have lost more than Rs 8 lakh crore.

Stock reached record low

Shares of Paytm have reached an all-time low of Rs 472 on Wednesday. At the same time, in the last 16 months, investors who have put money in five new age technology companies Paytm, Zomato, Nykaa, Delhivery and Policybazaar have suffered huge losses.

Big anchor investments withdrawing money fast

Investors are pulling out of many new age technology companies including Paytm, Nykaa. From Paytm to SoftBank to Nykaa, VC firm Lighthouse India Fund 3 has sold 3 crore shares worth Rs 525.39 crore in bulk deals as the lock-in period for pre-IPO investors is over. Zomato company founder Mohit Gupta has resigned from the online food aggregator.

Investor Uber exits Zomato

Uber Technological, an early investor in Zomato, exited the online food delivery platform in August this year. Zomato’s stock is trading at Rs 62.15 on Wednesday. The one-year lock-in period for Nykaa ended on November 10 and the stock fell on the same day. Its stock was trading at Rs 171.15 on Wednesday. Arvind Agarwal, Chief Financial Officer of FSN E-Commerce Ventures (Nyaka), has resigned from the company. Arvind Agarwal, Chief Financial Officer of FSN E-Commerce Ventures Ltd, will leave the company on November 25, 2022, Nykaa said in a statement.

Investors came out of Delhivari as well

Delhivery’s lock-in period ended on Monday and CA Swift Investments sold half its stake in the online logistics platform at an average price of Rs 330.02 per share, according to NSE data. Last week, Japanese VC major SoftBank sold 29 million shares of Paytm through a block deal. A Macquarie report said that Paytm will face stiff competition with the entry of Jio Financial Services (ZFS), which will cause its stock to fall further by 11 per cent. The market cap of Paytm has declined from last year’s high of $11.62 billion to around $3.79 billion. Market watchers say the valuations of these new-age Internet companies were not supported by strong fundamentals, while their cash outlays were high.

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