Here we are giving Paytm IPO news is here: Paytm share listing today 20% below IPO price
Paytm shares are currently traded at Rs 2,170-2,180 each in the grey market against its final issue price of Rs 2,150 per share.
Nykaa company owner falguni Nayar & net worth $7.8 billion & IPO funding
Shares of Paytm parent One97 Communications fell 16.02% below the IPO price of Rs 2,150, ascribing a market cap of Rs 1.20 lakh crore. Macquarie has initiated coverage of the Paytm stock at “underperform” with price target of Rs 1,200.
Shares of digital payments and financial services firm Paytm made its much anticipated stock market debut on Thursday. The stock listed at ₹1,950 per share on the NSE, a 9% discount as compared to its IPO issue price of ₹2,150 apiece. On BSE, Paytm shares started trading at ₹1,955 per share with market capitalization above ₹1 lakh crore in opening deals. The stock fell further to ₹1,806 minutes after listing.
Shares of digital payments and financial services firm Paytm made its much anticipated stock market debut on Thursday. The stock listed at ₹1,950 per share on the NSE, a 9% discount as compared to its IPO issue price of ₹2,150 apiece. On BSE, Paytm shares started trading at ₹1,955 per share with market capitalization above ₹1 lakh crore in opening deals. The stock fell further to ₹1,806 minutes after listing.
Not only this, Paytm’s share price at the grey market was consistently falling ever since it got listed. On Wednesday, Paytm shares were fetching a premium of Rs 30 at the grey market, up by only 1.4 per cent over the final issue price of Rs 2,150. The company’s stocks were trading at Rs 2,300 on October 7 at the grey market, which is a Rs 150 or 7 per cent premium over the final issue price, but fell to Rs 80 on the opening date of the IPO. On the closing day of the issue, the Paytm IPO GMP fell to as low as Rs 40.”
Paytm started as a digital wallet platform, enabling customers to make utility payments and mobile recharge through the application has turned into a payment super-application that offers wealth management, e-commerce, insurance, credit and much more. “As per an RBI internal study, payments banks may be allowed to apply for small finance bank (SFB) licensing, which would enable Paytm to lend on its own balance sheet,” said domestic brokerage firm Motilal Oswal in a report. Payments and financial services contribute around 75% to the company’s total revenues.
The public issue of Paytm was subscribed 1.89 times by investors earlier this month. Qualified Institutional Buyers (QIB) had subscribed to the issue 2.79 times their portion while retail investor subscription was at 1.89 times. Non-Institutional investors (NII) had subscribed to their portion only 0.24 times. Paytm IPO news is here: Paytm share listing today 20% below IPO price