Wednesday, February 21, 2024

Paytm IPO has slow start, subscribed 18 per cent on Day 1

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Paytm IPO has received a mixed response from analysts, with some calling it a good bet to ride India’s fintech wave and others pointing at expensive pricing. It is expected to be the biggest since Coal India’s IPO in 2010.

The initial public offer (IPO) of digital payments company Paytm opened to a slow start on Monday, the first day of the three-day window. The IPO was subscribed only 18 per cent.

The portion set aside for retail investors has been subscribed 78 per cent, while the reserved portion of non-institutional investors was subscribed 2 per cent, and qualified institutional buyers have put in bids for 16.78 lakh shares against 2.63 crore shares set aside for them.

Share allotment is likely to take place on November 15, and the shares are expected to be listed on November 18.

The Paytm IPO has received a mixed response from analysts, with some calling it a good bet to ride India’s fintech wave and others pointing at expensive pricing.

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