Why Traders Chase IPOs but Ignore Them Below IPO Price

Most investors want a stock at its IPO price, until it is actually available at that price.

During an IPO, people apply through several family accounts and track the grey market premium. They feel let down when they miss the allotment. Months later, the same stock trades below the IPO price, and hardly anyone looks at it.As of 2 November 2026, 522 Companies that listed in the last three years and now trade below their IPO price. They include Swiggy, with an IPO price of ₹317 and a current price of ₹177.73, and Ola Electric, at ₹67 and ₹35.01.

This post covers why this happens, how to find the list, and how to narrow 552 names down to a short watchlist. Trading below IPO price does not make a stock cheap. Some of these businesses deserve the fall, and the work is in telling them apart.

The psychology: why we chase IPOs and ignore them later

IPO demand is driven largely by excitement about a quick listing gain, not by the business. Once that excitement fades, so does the attention. The IPO price becomes the number that defines a stock's worth. Investors then see a fall below it in one of two ways: "it must be bad" or "it must be cheap". Both are mistakes, because the issue price was set by the company and its bankers at a moment of high demand. It says little about what the business is worth today. Before an IPO, you hear the growth story from every direction. After a bad listing, the coverage stops or turns negative. The business may be improving, but fewer people are looking at it.

How to find the list 

Screener.in has a dedicated page for this, and I've also put the full list in one file.

1. Open Screener's Companies Below IPO Price page.
2. Read the columns: company name, listing date, IPO market cap (₹ crore), IPO price, current price and % change.
3. Click a column header to sort. Sorting by IPO market cap brings the largest companies to the top, and sorting by % change shows the smallest or deepest falls.
4. Go through the pages. With 552 companies, the list ran to 23 pages when I checked on 2 November 2026.

Download the full stock list here if you'd rather work in a spreadsheet than page through the site. The list changes with the market every day, so check the live Screener page before acting on any name.

How to shortlist from 552 stocks

Don't start by hunting for the biggest falls. Remove what you can't or shouldn't own first, then study what's left. Remove the very small companies. Sort by IPO market cap and set a floor, such as ₹500 crore. Prefer companies with at least four to six quarters of results since listing. The aim is a business that is getting stronger while its stock is out of favour. Screener's company pages show most of these numbers.

The takeaway

The crowd pays for excitement during an IPO and walks away when the excitement ends. That can leave good businesses overlooked, but it also leaves plenty of stocks that are low for good reason. So treat this list as a place to start your research, not as a buy list. Ignore the IPO price, judge the business on its results.

Disclaimer: This post is for educational purposes only and is not investment advice. Companies named here are examples, not recommendations. Prices and the company count are from Screener.in as on 2 November 2026 and will change. Please do your own research or consult a SEBI-registered adviser before investing.