The bombing of the Paytm IPO on the Street last week has triggered a reckoning for new-age companies who were offered to investors in the IPO mad rush of the past four months on sky-high valuations and “too good to be true” narratives.

Analysts said the index has support at 17,280 level and at its 100-day moving average, which is placed around 17,150 level. They see the 17,500 level as the immediate resistance level for the index.

The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 600 crore and an offer for sale (OFS) of up to equity shares aggregating up to Rs 1,038.71 crore by promoter and existing shareholders.

The DAO aims to help skilled players to become part of the play-to-earn economy that is taking root in India. “Thanks to blockchain technology and the emergence of non-fungible tokens (NFTs) that will now change,” the organization said.

The Nifty Pharma index closed 1.75 per cent down at 13245.35.

The Nifty Realty index was trading 2.77 per cent down at 512.3.

“We are heavily overweight on financials, discretionary consumption and industrials. Our horizon of building a portfolio is somewhere between 18 and 36 months. Some stocks are with an 18-month horizon, some have a three-year horizon. It is not meant for next quarter or two.”

“I would give six months to a year to get the full operational synergies in place for Principal AMC acquisition.”

In the international market, both gold and silver were trading flat at USD 1,846 per ounce and USD 24.85 per ounce, respectively.

As of 30-Sep-2021, promoters held 44.76 per cent stake in the company, while FIIs held 25.1 per cent and domestic institutional investors had 12.21 per cent.