10 Issuers that IPOed on the IDX during 2022-2025 with the Deepest Decline in Stock Prices (February 6, 2026)

During the 2022-2025 period, 205 issuers conducted initial public offerings (IPOs) on the Indonesia Stock Exchange (IDX).

Of these issuers, as of February 6, 2026, the stock price decline was the steepest for PT Hillcon Tbk (HILL).

HILL conducted its initial public offering on March 1, 2023, with an IPO price of IDR 1,250 per share.

However, at the close of trading on February 6, 2026, HILL's share price was IDR 120, a 90% drop compared to its IPO price.

Here is a list of the 10 listed companies listed on the stock exchange between 2022 and 2025 with the steepest share price declines since their IPOs until February 6, 2026:

1. PT Hillcon Tbk (HILL)

• IPO Date: March 1, 2023
• IPO share price: Rp1,250
• Share price on February 6, 2026: Rp120
• Percentage share price decline: 90%

2. PT GoTo Gojek Tokopedia Tbk (GOTO)

• IPO Date: April 11, 2022
• IPO share price: Rp338
• Share price on February 6, 2026: Rp60
• Percentage share price decline: 82%

3. PT Venteny Fortuna International Tbk (VTNY)

• IPO Date: December 15, 2022
• IPO share price: Rp360
• Share price on February 6, 2026: Rp86
• Percentage share price decline: 76%

4. PT Sari Kreasi Boga Tbk (RAFI)

• IPO date: August 5, 2022
• IPO share price: Rp126
• Share price on February 6, 2026: Rp33
• Percentage share price decline: 74%

5. PT Mitra Perdagangan Indonesia Tbk (MPIX)

• IPO date: February 7, 2024
• IPO share price: Rp268
• Share price on February 6, 2026: Rp76
• Percentage share price decline: 72%

6. PT Autopedia Sukses Lestari Tbk (ASLC)

• IPO date: January 25, 2022
• IPO share price: Rp256
• Share price on February 6, 2026: Rp77
• Percentage share price decline: 70%

7. PT Kusuma Kemindo Sentosa Tbk (KKES)

• IPO Date: August 8, 2022
• IPO share price: Rp105
• Share price on February 6, 2026: Rp32
• Percentage share price decline: 70%

8. PT Lavender Bina Cendikia Tbk (BMBL)

• IPO Date: January 11, 2023
• IPO share price: Rp188
• Share price on February 6, 2026: Rp60
• Percentage share price decline: 68%

9. PT Isra Presisi Indonesia Tbk (ISAP)

• IPO Date: December 9, 2022
• IPO share price: Rp96
• Share price on February 6, 2026: Rp31
• Percentage share price decline: 68%

10. PT Widiant Jaya Krenindo Tbk (WIDI)

• IPO Date: July 10, 2023
• IPO share price: Rp100
• Share price on February 6, 2026: Rp33
• Percentage share price decline: 67%