Almost all retail and high net worth individuals (HNI), who bid for the initial public offerings, are taking a first day exit in recently listed companies. It is an emerging trend for the year 2020, market analysts said.

On Monday, 98 per cent of non anchor investors in Route Mobile sold their shares on the listing day. In the non anchor investor category, Route Mobile had allotted 1.2 crore shares. On Monday, around 1.18 crore shares were sold for delivery on BSE and the NSE.

The stock of Route Mobile doubled on listing based on its high subscription and the grey market premium, experts said. It touched a high of ₹735 and closed at ₹651, which was 86 per cent premium to the issue price of ₹350. Route Mobile IPO was subscribed by 73 times.

Similarly, Happiest Minds saw 95 per cent of retail investors getting out on the first day of listing itself and Rossari Biotech witnessed nearly 92 per cent exit. Happiest Minds was subscribed by 150 times and Rossari 79 times.

“The trend shows that those bidding in these IPOs are just here for quick gains. They do not care for long term prospects. Also, for the new investors who got into these shares on the listing day the price has to raise substantially to exit now. With the bar so high, it would be interesting to see how these newly listed companies fare in coming months. New investors be warned,” said Arun Kejriwal, founder, Kejriwal Research.

Rossari listing day high was ₹857 and it is now trading at ₹781; Happiest Minds trades at ₹349 against the high of ₹395.

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