Paytm shares list at 9% discount; stocks open at Rs 1955 on BSE

Paytm IPO: Share of India's biggest initial public offer (IPO) ever, Paytm, was listed on bourses at 9% discount. Paytm stocks opened at Rs 1955 against its issue price of Rs 2,150 on the Bombay Stock Exchange (BSE) on Thursday.

Paytm shares list at 9% discount; stocks open at Rs1955 on BSE. Source: Reuters

Share of India's biggest initial public offer (IPO) ever, Paytm, was listed on bourses at 9% discount. Paytm stocks opened at Rs 1955 against its issue price of Rs 2,150 on the Bombay Stock Exchange (BSE) on Thursday. This was decline of 9.07% or Rs 195.

See Zee Business Live TV Streaming Below:

TRENDING NOW

Earlier, the three-day share sale of Paytm, a digital payment solutions provider, was oversubscribed 1.89 times and received bids for 9.14 crore shares against 4.83 crore shares offered.

The company had fixed price band of Rs 2,080-2,150 per share for this issue, valuing the company at Rs 1.39 lakh crore at the upper end of the price band. Once listed, it will surpass Coal India IPO, which was the biggest IPO in the history of Indian primary market until Paytm decided to make stock market debut. This was greater than previous miner Coal India's Rs 15,000 crore a decade back.

Ant Group-backed Paytm had closed India's largest anchor round, raising Rs 8,235 crore from 100 institutional traders, together with the federal government of Singapore, BlackRock International Funds, Canada Pension Plan Funding Board and Abu Dhabi Funding Authority.

Paytm IPO comprised a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of shares worth up to Rs 10,000 crore.

The OFS, or secondary share sale, consisted of the sale of shares worth up to Rs 402.65 crore by founder Vijay Shekhar Sharma.

The company had set aside 75 per cent of the offer for QIBs, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.

Incorporated in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants. It offers a range of services to the users - payment services and financial services.

Paytm is backed by marquee investors like Ant Financials and Softbank. The company has also attracted world’s top pension funds, superannuation funds as well as sovereign wealth funds like Government of Singapore, CPPIB, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, University of Cambridge.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

TAGS:

Paytm