Paytm shares disappointed IPO investors, lists at 9% discount to its issue price
Published On: Thursday, November 18, 2021 | By: Team KnowMyStock
The parent company of Paytm, One 97 Communications, disappointed IPO investors as the unicorn's stock got listed today(18th Nov.2021) at Rs 1,950 on NSE, a discount of 9.3 percent over its price of Rs 2,150. At BSE, the stock got listed at Rs 1,955. The mega share sale of Paytm was the largest ever initial stake sale by any domestic company via the primary route. The company raised as much as Rs 18,300 through its IPO. The initial stake sale of One97 Communications was open for subscription between November 8-10. The company sold its shares in the range of Rs 2,080-2,150.
The IPO was subscribed less than two times. The quota for qualified institutions was subscribed 2.79 times, whereas the retail investors' portion was subscribed 1.66 times. Non-institutional investors' quota was subscribed only 24 percent.
Some analysts attributed the poor listing to ultra-expensive pricing, poor financials, and muted prospects for growth.
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