23 IPOs hit lowest level since listing; 13 fall below issue price

Credo Brands Marketing, ASK Automotive, Flair Writing Industries, Rishabh Instruments, and TVS Supply Chain Solutions fell below their issue prices

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One in three recently listed main board initial public offers (IPOs) hit lowest level since their market debut on Wednesday, amid a sharp sell-off in mid, small, and micro-cap stocks.

As many as 23 IPOs, including Happy Forgings, Valiant Laboratories, Cello World, Gandhar Oil Refinery (India), Mukka Proteins, and Aeroflex Industries, were quoting at their lowest level since listing, BSE data showed.

Of these 23, Credo Brands Marketing, ASK Automotive, Flair Writing Industries, Rishabh Instruments, and TVS Supply Chain Solutions were among the 13 IPOs which are currently trading below their respective issue prices as well.