New Delhi Nov 18 PTI Shares of One97 Communications Ltd Paytms parent company on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2150 The stock is listed at Rs 1955 tumbling 9 per cent from the issue price on the BSE During the day it tumbled 2725 per cent to Rs 1564 It tanked 2724 per cent to settle at Rs 156415 On the NSE it debuted at Rs 1950 registering a decline of 930 per cent against the issue price The stock plunged 2744 per cent to settle at Rs 1560 Addressing a gathering on the listing ceremony of One97 Communications Vijay Shekhar Sharma Founder and Chief Executive Officer of Paytm said I believe that Paytm story inspires and hopefully will inspire tens of and hundreds of millions of entrepreneurs that this country will produce in years to come that yes they can do it They can do it even when they come from backgrounds that were not meant to be making you reach here they can reach here The company commanded a market valuation of Rs 10139972 crore on the BSE With the decline in the stock price the companys market valuation eroded by Rs 3760028 crore Paytm the biggest IPO in India so far debuted the secondary market on a weaker note as compared to our expectations of a flat listing Santosh Meena Head of Research Swastika Investment Ltd said In traded volume terms 1006 lakh shares were traded at the BSE and over 239 crore shares at the NSE during the day Indias largest IPO of Paytm tumbled 27 per cent on its maiden day with investors questioning its business model and lack of profits along with lofty valuations Siddhartha Khemka Head - Retail Research Motilal Oswal Financial Services Ltd Ant Group-backed Paytms Rs 18300 crore IPO was oversubscribed 189 times on the last day of Indias biggest share sale last week This was greater than miner Coal Indias Rs 15000 crore offer a decade back Paytm formally called One97 Communications saw a dull response and got subscribed only 189 times from the investors which is much lower compared to the other recently listed companies Parth Nyati Founder Tradingo said He added that they feel that due to the brand the company sought high valuation and it might see a correction in the near term The initial public offering of Paytms parent company One97 Communications Ltd received bids for 914 crore equity shares against the offer size of 483 crore shares according to information available with stock exchanges on November 10 Paytm had fixed its IPO in a price band of Rs 2080-2150 per share Incorporated in 2000 One97 Communications is Indias leading digital ecosystem for consumers and merchants It offers a range of services including payment services and financial services Mega IPO Paytm witnessed tepid listing today as concerns over valuation weighed on the stock according to Binod Modi Head Strategy at Reliance Securities In the equity market the BSE 30-share benchmark index ended 37232 points or 062 per cent lower at 5963601 Weak listing of Indias largest IPO and soft global market amid rising inflation woes impacted domestic sentiment Vinod Nair head of Research at Geojit Financial Services said Launched by a son of a school teacher from a small town Aligarh nearly a decade ago as a platform for cellular recharging Paytm grew rapidly after ride-hailing agency Uber listed it as a fast-cost possibility PTI SUM SHW SHW

New Delhi Nov 18 PTI Shares of One97 Communications Ltd Paytms parent company on Thursday made a weak market debut and tumbled over 27 per cent during the day from the issue price of Rs 2150 The stock was listed at Rs 1955 slipping 9 per cent from the issue price on the BSE It then tumbled 2725 per cent to Rs 1564 during the day On the NSE it debuted at Rs 1950 registering a decline of 930 per cent against the issue price During the day the stock plunged 2734 per cent to Rs 1562 Paytm the biggest IPO in India so far debuted the secondary market on a weaker note as compared to our expectations of a flat listing Santosh Meena Head of Research Swastika Investmart Ltd said The company commanded a market valuation of Rs 10148400 crore in late afternoon trade on the BSE Ant Group-backed Paytms Rs 18300 crore IPO was oversubscribed 189 times on the last day of Indias biggest share sale last week This was greater than miner Coal Indias Rs 15000 crore offer a decade back Paytm formally called One97 Communications debuts today at exchanges which saw a dull response and got subscribed only 189 times from the investors which is much lower compared to the other recently listed companies Parth Nyati Founder Tradingo said He added that they feel that due to the brand the company sought high valuation and it might see a correction in the near term The initial public offering of Paytms parent company One97 Communications Ltd received bids for 914 crore equity shares against the offer size of 483 crore shares according to information available with stock exchanges on November 10 Paytm had fixed its IPO in a price band of Rs 2080-2150 per share Incorporated in 2000 One97 Communications is Indias leading digital ecosystem for consumers and merchants It offers a range of services including payment services and financial services Launched by a son of a school teacher from a small town Aligarh nearly a decade ago as a platform for cellular recharging Paytm grew rapidly after ride-hailing agency Uber listed it as a fast cost possibility PTI SUM SHW SHW