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Bad news for those who invest in Paytm with high expectations. One97 Communications, the parent company of Paytm, the country’s largest digital payment platform, is listed on the stock exchange today. The company’s shares are listed on the stock market with a discount. At B.Sc., it is Rs. 1955 or 9.07 per cent Listed with discounts. Its issue price was Rs 2,150, which means that the investor has lost Rs 195 per share. Shares of the company traded down 9.3 per cent at Rs 1,950 on the NSE.
In early trade, it fell by more than 20 per cent to Rs 1,657. On the other hand, there is a flood of memes on social media. People who have been denied access to Paytm shares are joking about weak listings. It is the 49th company to be listed this year. Paytm’s IPO was the largest IPO ever in the country. The Rs 18,300 crore IPO did not get the expected response. It received a total bid of 1.89 times. It opened on November 8 and closed on November 10. It was bid 2.79 times in the QIB category and 1.66 times in the Retail Investors category.
Its gray market premium continued to fall due to a lack of response. The company’s gray market premium was the lowest among the recently listed IPO shares. Experts believed that Paytm’s shares could be listed at a discount of 5 to 10 per cent. Prior to the listing, Paytm’s stock was trading at a premium of Rs 30, or 1.4 per cent, above the issue price of Rs 2,150 in the gray market.
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