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Paytm makes a weak debut, hits lower circuit towards end of trade

Paytm shares listing: The scrip of One 97 Communications, the parent entity of digital payments firm Paytm, hit a lower circuit towards the end of the day, settling at Rs 1,560.00, down 27.44 per cent from its offer price of Rs 2,150.00.

By: Express Web Desk | New Delhi |
Updated: November 18, 2021 4:16:58 pm
paytm shares listing, paytm founder and ceo vijay shekhar sharmaMumbai: Paytm founder and CEO Vijay Shekhar Sharma gets emotional during the listing of Paytm shares at the Bombay Stock Exchange, in Mumbai, Thursday, Nov. 18, 2021. (PTI Photo)

Paytm share price: Shares of One 97 Communications, the parent entity of digital payments firm Paytm, made a weak debut in the stock exchanges today listing at a loss of over 9 per cent below their issue price and eventually settling after hitting a lower circuit towards the end of its first day. The stock recorded a fall of over 27 per cent from the issue price by the end of the trade.

The scrip got listed at Rs 1,950.00 apiece on the National Stock Exchange (NSE), thereby registering a fall of 9.30 per cent from its offer price of Rs 2,150.00, while on the BSE, it opened at Rs 1,955.00, down 9.07 per cent from the issue price.

The stock continued its downward momentum and inched further lower from its opening levels during the intraday trade hitting the 20 per cent lower circuit towards the end of the session. It hit a low of Rs 1564.00 on BSE and Rs 1,560.00 on the NSE.

The scrip eventually settled around that level at Rs 1564.15 on the BSE, down 27.25 per cent from the issue price while on NSE it ended at Rs 1,560.00, down 27.44 per cent. The market capitalisation of Paytm stood at Rs 1,01,399.72 crore at the end of trade, data from the BSE showed.

Nearly 2.40 crore shares of Paytm were traded during the day on NSE while over 10.06 lakh shares exchanged hands on the BSE, data from the respective stock exchange showed.

The country’s largest initial public offering (IPO) worth a whopping Rs 18,300 crore was subscribed 1.89 times during its offer period from November 8-10, 2021.

It comprised a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) worth Rs 10,000 crore by existing shareholders including its founder Vijay Shekhar Sharma along with Ant Financials, Alibaba, Elevation Capital, and SAIF III Mauritius Company, Saif Partners.

The Paytm IPO had surpassed the 2010 offering of state-run Coal India that raised over Rs 15,000 crore.

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