Paytm crosses milestone of Rs 1 lakh crore market cap despite weak listing

Paytm managed to cross the milestone of Rs 1 lakh crore market capitalisation during its market debut today. The digital payments firm reached market cap of Rs 1.19 lakh crore on BSE during its tepid market listing.

The share listed at Rs 1,955 on BSE, a discount of 9.06% to the issue price. Later, the market cap of firm fell to Rs 1.10 lakh crore, as the share further dipped 20.47% to Rs 1,704 on BSE.

On NSE, the share of Vijay Shekhar Sharma-led firm opened at Rs 1,950, a 9.30% discount to the IPO issue price.  The share further fell 20.93% to Rs 1,700 on NSE.

The biggest IPO till date was subscribed 1.89 times on the final day. The issue received bids for 9.13 crore equity shares against offer size of 4.83 crore shares.

The Paytm IPO surpassed Coal India (Rs 15,475-crore IPO) and Reliance Power (Rs 11,700 crore IPO) in terms of issue size. The IPO was open for subscription from November 8 to November 10.

Price band of the share sale was fixed at Rs 2,080-Rs 2,150 per share.

On November 3, the firm raised Rs 8,235 crore (45% of the issue size) from anchor investors. The allotment of shares was done on November 15, 2021.

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