Herein, David is referred to as the SME IPOs. SME stands for small & medium enterprises and is considered to be the backbone of India’s growing economy.   

The IPO market that was buzzing & rollicking in the calendar year 2021, is also feeling the pinch as the central banks across the globe are aggressively tightening their monetary policy.

It was a disappointing day as Nifty lost nearly all its gains in the last couple of hours. In the end, Nifty closed flat at 16,682. Moreover, Nifty Midcap and Nifty Smallcap closed on a mixed note.   

Indices ended nearly at the day’s low while Nifty plunged about 2.29 per cent to close at 16,677. Sensex tanked about 1,306 points amidst RBI’s decision to increase the repo rate by 50 bps.