One 97 Communications, the parent company of Paytm, the country's largest digital payment platform, was listed on the stock exchange today.
It made a tepid market debut, listing with a discount of over 9% from the issue price of ₹2,150. The stock was listed on the BSE at Rs. 1955. Its issue price was Rs 2,150. It then tumbled 20.67% to ₹1,705.55. At the NSE, it debuted at ₹1,950, registering a decline of 9.30% against the issue price.
Paytm is the 49th company to be listed this year. Paytm's IPO is the largest IPO in the country to date. The Rs 18,300 crore IPO did not get the expected response. It had received bids 1.89 times in total. It opened on November 8. Closed November 10. The bids were 2.79 times higher in the QIB category and 1.66 times higher in the retail investors category.