Paytm investors clock returns despite the stock’s lacklustre listing
One97 Communications, operator of India’s largest fintech platform, made a disappointing start to the market on Thursday after raising funds in the country’s biggest IPO.
The stock, which was listed at a whopping 9% discount, hit a low circuit of 20% half an hour before the closing bell. The stock closed at Rs 1,564.15 per share, which is 27.25% lower than the issue price of Rs 2,150.
The company’s market cap came in at $13.6 billion, down from its last private fundraising valuation of $16 billion in November 2019. Its early supporters, including softbank, ant group, Alibaba And altitude capital, still made money from listings.
Here’s a look at what was priced after Paytm’s listing.
Sign in to see our list of the Most Promising Startups of 2021
stay high Technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.
