What is happening in the last 6 months in unlisted market?

Some unlisted shares like Fino, Care-health, HDB Financials, Hero-Fin Corp, Studds, Five- Stars, Reliance Retail etc are facing the heat as they had become overvalued in the unlisted market and the early investors who had bought at lower levels have started booking profit. Here, selling is more and buying is less, so prices are falling in the last 6 months. Reliance Retail will be a fairly valued under Rs.1500 per share. Currently, it is highly overvalued.If you see the above table, barring few unlisted stocks, most of them are trading in negative territory. There are many reasons for that like, over-valuations, low demand for stocks due to poor broader market conditions, delay in launching new IPOs and poor results by some unlisted stocks.For example, PharmEasy was down by 50% was mainly due to the heavy selling across the world stock market in the loss making tech startups. We have seen shares like Zomato, Policy Bazaar, Car-Trade, Paytm etc have lost their market capitalisation by massive % in India, and similar story was there in US markets as well. The valuations in the private market ( i.e. before IPO ) was skyrocketing, but IPO market is not willing to put money at such high valuation, so correction is happening. Delhivery IPO which was initially looking to raise money at $5 Billion dollars already cut down the valuation due to poor response in the IPO Market.