Indian stock markets are flexing. Benchmark indexes Sensex and Nifty rose 21% to 22% this year in January, with NSE Nifty-50 reaching a historic mark of five numbers from 10 000 points for the first time.

In the middle of the race continues, corporate developers are not too late and want to get on the wave, public shares actions to raise capital cheap as markets rise to new heights. This year, 23 intellectual property offices were launched, including the Bombay Stock Exchange (BSE Ltd) and its highly subscribed CDSL subsidiary.

However, there are still dark spots. As part of the ongoing euphoria examines nine IPOs launched in the last three years, whose shares have fallen below half the issue price, while the benchmark index increased 45% more since 2014 May, when the The new NDA government led by Prime Minister Narendra Modi came to power. Here is a list of nine past three IPOs that have fallen to less than half their issue price.

Radhika Jewelers was ranked in September 2016 and an issue price of Rs 75 on BSE. The company is the retail business of gold and diamond jewelry. The stock has fallen recently after a few days of registration and at closing on Friday at 21.15 Rs, down to 72% of the issue price.

Shares of Osiajee Texfab Ltd. started exchanges in January 2016 at a price of Rs 25. The company’s main business is the manufacture of textiles. The stock has been very unstable from its list and lost almost 52% since then. It finished on Friday at 12 Rs.

The Yogya stock companies are listed in April 2015 at Rs 15. The company’s issuance price of trading, IT infrastructure, financial services, information technology and advice. The company’s shares traded well above its issue price until November 2015 and marked a 52-week high of Rs 27.3 in October 2015. However, the stock fell sharply after November 2015. Ended on Friday 5.5 per Tuesday by 63.33% on its issue price.

Inox wind – a domestic wind power service provider – made its debut in the stock market in April 2015 at Rs 325. The issue price of stainless steel wind has continuously decreased from the list and lost 57 15% of the price Of issuance at the end of Rs 139.25 on Friday.

Adlabs entertainment is involved in the development and operation of thematic entertainment destinations in India. It was made public in April 2015 at Rs 180. The issue price was cheaper than its listing price and lost 60.89% at the close of Friday of Rs 70.4.

The cable television services regional communications provider Ortel made public in March 2015 at an issue price of Rs 1,800. The shares traded above their issue price until October 2015 and reached a total record of Rs 231 in the same month. But since then, stocks have fallen steadily and lost 67.38% at the close of Friday of 59.05 Rs.

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