New Delhi: The much-awaited shares of digital payments and financial services firm Paytm finally made a debit in the stock market on Thursday. Paytm shares were seen trading at Rs 1,955 per share on BSE with market capitalization above Rs 1 lakh crore at the opening.
Sharma’s young son was also present to ring the opening bell at 10 am sharp to mark the listing of Paytm. On NSE, the stock is listed at Rs1,950 per share, a 9 per cent discount as compared to its IPO issue price of Rs 2,150 apiece. However, the shares lost momentum and touched Rs 1,806 minutes after listing.
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Ahead of the listing, Paytm founder and Chief Executive Officer Vijay Shekhar Sharma tweeted saying,”Feels like carrying the hopes and aspirations of young India to the Stock Market”. “Can feel the Indian cricket team” as he has been receiving a plethora of wishes, messages, and texts on the trading debut day, Sharma said. Thanking the Paytm users, Sharma wrote, “ To every Paytmer, you’ve changed India for good”.
“Man, I can feel for our cricket team! So many messages, wishes, & kind words. Feels like carrying the hopes and aspirations of young India to the Stock Market. From coal to fintech, in 11 years — India has transformed. To every Paytmer, you’ve changed India for good,” Sharma tweeted.
Touted as one of the country’s biggest IPO, it was subscribed 1.89 times with institutional buyers including FIIs flooding the share sale with offers seeking 2.79 times the number of shares reserved for them. The company witnessed participation from investors including Blackrock, Canada Pension Plan Investment Board, GIC, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, University of Cambridge, etc.
Retail investors subscribed 1.66 times the 87 lakh shares reserved for them. The issue comprised a fresh issue of equity shares worth Rs8,300 crore and an offer for sale (OFS) of shares worth up to Rs10,000 crore.
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