Founder and CEO of Paytm Vijay Shekhar Sharma tweeted that he feels for the Indian cricket team ahead of his company's listing. He said that it feels like Paytm is carrying the hopes and aspirations of young India to the stock market. Sharma further added that India has transformed drastically in 11 years across sectors. Sharma also thanked Paytm users for changing “India for good.”
“Man, I can feel for our cricket team! So many messages, wishes and kind words. Feels like carrying the hopes and aspirations of young India to the stock market. From coal to a fintech, in 11 years – India has transformed. To every Paytmer, you’ve changed India for good,” Sharma tweeted.
Meanwhile, the digital payments company took to Twitter to share its anxiety with the users a day before its listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Paytm wrote it had “exam se ek raat pehle wali feeling”.
Some netizens were quick to boost Paytm’s morale ahead of its listing while others took this opportunity to share memes. The founder of MBA Chai Wala Praful Bhilore replied to Paytm’s tweet and said, “Morning and moral support in advance.”
Here’s how the internet reacted
Paytm, which as Ant Group and SoftBank as its backers, has collected Rs 18,300 crore through its IPO which was open from November 8-10. The issue size of the share sale was revised from Rs 16,600 crore. India’s biggest IPO was subscribed 1.89 times on final day and the issue received bids for 9.13 crore equity shares against offer size of 4.83 crore shares.
Paytm IPO has surpassed Coal India (Rs 15,475 crore IPO) and Reliance Power (Rs 11,700 crore IPO) in terms of size. The IPO includes a fresh issue of equity shares of the face value of Rs 1 each, aggregating to Rs 8,300 crore and the offer for sale by the existing shareholders, aggregating to Rs 10,000 crore.
Analysts are, however, not very optimistic about this listing as shares of the company are available at a discounted rate. “Shares of the company are available at a discount of Rs 20 in the unlisted market. Paytm was the most trending IPO since the company revealed its IPO plans but as the issue floated for a subscription it got a very tepid response from investors due to expensive pricing and losses incurred on the financial front. The subscription figures indicate very low demand and this may be seen in its listing too. I am hoping for a flat listing and won’t be surprised if it lists at a discount,” UnlistedArena.com founder Abhay Doshi told BusinessToday.In.
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