Paytm-owner One97 Communications India’s biggest initial public offering (IPO) failed to impress investors as Paytm shares listed at 9 per cent discount and closed at a price of Rs 1,560, 27.40 per cent below the offer price.
Just in 2021, Dalal Street has seen around 46 IPOs, with Paytm, having an issue size of Rs 18,300 crore, triumphing over Coal India become India's biggest IPO in over a decade.
The digital fintech firm’s shares extended losses after opening as the stock fell as much as 26 per cent, from issue price, to hit an intraday low of Rs 1,586.
Investors are curious to know whether they have been allotted shares of IPO or not. Paytm IPO, if successful, will become the largest initial public offering in the country.
With Rs 18,300-crore share sale, 350 current and ex-employees of Paytm will now have a worth of at least Rs 1 crore.
As per data available on the exchange at 1.47 PM, Paytm IPO has been subscribed 1.33 times so far, with the QIB tranche being 1.88x subscribed.
Rs 18,300 crore Paytm IPO open for subscription at a price band of Rs 2,080-2,150 per share. Should you subscribe?
Markets were closed for the Diwali vacation since Thursday. How investors react on Monday would depend on what they see as a priority.
Paytm’s parent One97 Communications’ IPO, which will remain open from November 8 to 10 at a price band of Rs 2,080-2,150 per share, is likely to list on November 18.
Madhur Deora, the Chief Financial Officer at Paytm, said the bitcoin is still in a regulatory grey area if not a regulatory ban in India. At the moment Paytm does not do Bitcoin.
Digital firm One97 Communications, which operates under Paytm brand name, is set to come out with it Rs 18,300-crore IPO on November 8.
Paytm stated that it planned to raise Rs 18,300 crore from the IPO, inclusive of Rs 8,300 crore from the issuance of fresh equity and Rs 10,000 crore from an offer for sale (OFS).
Paytm Insuretech (PIT), which is the unit of Paytm, plans to leverage the digital firm's customer base and merchant ecosystem to develop innovative insurance products.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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