The stock of billionaire Vijay Shekhar Sharma-led company fell 16.02% over the IPO price of Rs 2,150 to Rs 1,805.65, ascribing the fintech firm a market capitalisation of Rs 1,17,055.53 crore. In comparison, the market cap of Zomato and Nykaa parent FSN E-Commerce Ventures had topped the Rs 1 lakh-crore mark within the first few hours of trading, while PB Fintech had a valuation of over Rs 50,000 crore<\/a> at the end of day one.
“I hope the Paytm<\/a> story can inspire entrepreneurs, even for the ones who do not have the background, but I hope this inspires them that they can do it,” Sharma said during the listing event at the BSE in Mumbai on Thursday. “I believe India is meant for stories like this and many more stories like this to come up.”
Diya lighting at the listing ceremony #PaytmIPO https:\/\/t.co\/GIP3PExANY<\/p>— ETtech (@ETtech)1637207996000<\/a><\/blockquote><\/div>
Paytm Group’s CFO Madhur Deora said his company has done what “many said it can't be done”. “We have the bluest of blue-chip investors from the world and one million retail investors with us,” he said.
Investment bank Macquarie has initiated coverage of the Paytm stock at \"underperform\"<\/a> and set a price target of Rs 1,200, 40% lower than the IPO price.
\"Too many fingers in too many pies,\" Macquarie says about Paytm in a report ahead of the company’s listing. \"We believe Paytm’s business model lacks focus and direction. We initiate with an UP rating and TP of Rs1,200, implying 40%+ downside.\"
“Competition and regulation will drive down unit economics and\/or growth prospects in the medium term in our view,” the Macquarie report stated. “Unless Paytm lends, it can’t make significant money by merely being a distributor. We therefore question its ability to achieve scale with profitability.”
Congratulations @vijayshekhar & @paytm on a historic & awe-inspiring IPO. This victory is yours & that of the milli… https:\/\/t.co\/VokDFx8KyX<\/p>— Elevation Capital (@ElevCap)1637208910000<\/a><\/blockquote><\/div>
The buzz in the gray market, by no means an official metric, had indicated a muted listing.
On Wednesday, Paytm shares changed hands in the grey market<\/a> at a premium of just Rs 20-25 over the final issue price of Rs 2,150<\/a>. On Tuesday, they were trading at a premium of just Rs 30, a mere 1.4% increase over the final issue price, according to IPO Watch.
The stock was trading at Rs 2,300 a share on the grey market on November 7, a premium of Rs 150 or 7% over the issue price. This fell to Rs 80 on the first day of the IPO and by the close of the issue on November 10 it was at Rs 40.
Dealers tracking the grey market said the ultra-expensive pricing, poor financials and muted growth prospects were the key reasons for the poor listing.
Abhay Doshi, cofounder at UnlistedArena, said that Paytm was likely to be a flop on debut, despite the hype it generated as India’s biggest IPO ever. \"The valuations of the issue were on the expensive side. Also, the company has not shown any significant performance in the financials and it is losing market share,\" he said.
The Nov. 8-10 Paytm IPO—billed as India’s biggest<\/a>—comprised Rs 8,300 crore worth of new stock, while existing shareholders and promoters sold shares worth Rs 10,000 crore.
The issue was subscribed just 18%<\/a> on the first day of bidding, with the company receiving bids for 88.21 lakh of the 4.83 crore equity shares on offer. On day 2, it was subscribed 48%<\/a>, with 2.34 crore bids received. India’s biggest IPO was eventually fully subscribed<\/a> on day three after qualified institutional buyers stepped in.
ETtech’s Apoorva Mittal and Digbijay Mishra contributed to this story.<\/em>
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Paytm股价暴跌16%低于IPO价格上市,市值缩水
Paytm父One97通讯股价下跌16.02%低于2150卢比的IPO价格,将十万的1.20卢比的市值。麦格理已经发起的报道Paytm股票在股票价格1200卢比的目标。
孟买:的股票One97通信有限公司,母公司fintech主要的实体Paytm上市,IPO价格的大幅溢价或折价,与潮流背道而驰的恒星公开市场上市的新时代互联网公司在印度。
亿万富翁Vijay Shekhar Sharma-led公司的股票下跌16.02%的IPO价格Rs 2150 - Rs 1805 .65点,将fintech公司市值1 Rs 17055 .53点卢比。相比之下,Zomato的市值和Nykaa父烟度电子商务企业超过了Rs一lakh-crore马克刚出生的那几小时内,而PB Fintech估值超过50000卢比在一天的结束。
“我希望的Paytm故事能激发企业家,甚至对于那些没有背景,但我希望这能激发他们,他们能做到,”Sharma说在周四清单事件在孟买的疯牛病。“我相信印度是这样的故事和许多这样的故事。”
迪亚照明在上市仪式上# PaytmIPO https://t.co/GIP3PExANY
- ETtech (@ETtech)1637207996000
Paytm集团首席财务官玛Deora说,他的公司已经做了“许多人说它不能做”。“我们有最优质的蓝筹股投资者从一百万年世界和散户投资者与我们,”他说。
投资银行麦格理已开始的报道Paytm股票“表现不佳”1200年Rs,设定一个目标价,比发行价低40%。
“太多的手指在太多的馅饼,”麦格理(Macquarie)在一份报告中说Paytm之前公司的清单。“我们相信Paytm的商业模式缺乏重点和方向。我们发起一个评级和TP Rs1,200暗示40% +下行。”
“竞争和监管将降低单位经济和/或在中期增长前景在我们看来,”麦格理(Macquarie)的报告。“除非Paytm借,不能作出重大的钱仅仅是一个分销商。因此我们问题的能力实现规模盈利能力。”
恭喜@vijayshekhar & @paytm历史性的和令人惊叹的IPO。这场胜利是你的&的毫…https://t.co/VokDFx8KyX
——高度资本(@ElevCap)1637208910000
buzz的灰色市场,绝不是官方的指标,表示一个低调的清单。
周三,Paytm股票在灰色市场转手只是Rs 20 - 25的溢价最后一期2150卢比的价格。周二,他们交易溢价的Rs 30日最后一期价格仅增加1.4%,据IPO的手表。
股票交易每股2300卢比在灰色市场11月7日,Rs 150或7%的溢价发行价格。这跌至Rs 80的第一天上市和问题的关闭11月10日在Rs 40。
经销商跟踪灰色市场租金昂贵的价格说,金融和温和的增长前景不佳的主要原因是穷人清单。
Abhay Doshi,创始人UnlistedArena表示,上市首日Paytm可能失败,尽管炒作它生成印度最大的IPO。“问题的估值是昂贵的。同时,公司还没有显示任何显著的性能在金融和失去的市场份额,”他说。
11月8 - 10 Paytm IPO -作为印度最大的—价值8300卢比的新股票,而现有股东和推动者出售股票价值10000卢比。
这个问题是订阅只有18%招标的第一天,公司收到投标88.21 4.83卢比的多数股权。第二天,认购48%,2.34卢比的报价收到。印度最大的IPO全部认购合格机构投资者介入后第三天。
ETtech Apoorva米塔尔和Digbijay Mishra促成了这个故事。
Mumbai:<\/strong> Shares of One97 Communications<\/a> Ltd., the parent entity of fintech major Paytm<\/a>, listed at a steep premium\/discount to its IPO price, bucking the trend of stellar public market debuts by new-age internet companies in India.
The stock of billionaire Vijay Shekhar Sharma-led company fell 16.02% over the IPO price of Rs 2,150 to Rs 1,805.65, ascribing the fintech firm a market capitalisation of Rs 1,17,055.53 crore. In comparison, the market cap of Zomato and Nykaa parent FSN E-Commerce Ventures had topped the Rs 1 lakh-crore mark within the first few hours of trading, while PB Fintech had a valuation of over Rs 50,000 crore<\/a> at the end of day one.
“I hope the Paytm<\/a> story can inspire entrepreneurs, even for the ones who do not have the background, but I hope this inspires them that they can do it,” Sharma said during the listing event at the BSE in Mumbai on Thursday. “I believe India is meant for stories like this and many more stories like this to come up.”
Diya lighting at the listing ceremony #PaytmIPO https:\/\/t.co\/GIP3PExANY<\/p>— ETtech (@ETtech)1637207996000<\/a><\/blockquote><\/div>
Paytm Group’s CFO Madhur Deora said his company has done what “many said it can't be done”. “We have the bluest of blue-chip investors from the world and one million retail investors with us,” he said.
Investment bank Macquarie has initiated coverage of the Paytm stock at \"underperform\"<\/a> and set a price target of Rs 1,200, 40% lower than the IPO price.
\"Too many fingers in too many pies,\" Macquarie says about Paytm in a report ahead of the company’s listing. \"We believe Paytm’s business model lacks focus and direction. We initiate with an UP rating and TP of Rs1,200, implying 40%+ downside.\"
“Competition and regulation will drive down unit economics and\/or growth prospects in the medium term in our view,” the Macquarie report stated. “Unless Paytm lends, it can’t make significant money by merely being a distributor. We therefore question its ability to achieve scale with profitability.”
Congratulations @vijayshekhar & @paytm on a historic & awe-inspiring IPO. This victory is yours & that of the milli… https:\/\/t.co\/VokDFx8KyX<\/p>— Elevation Capital (@ElevCap)1637208910000<\/a><\/blockquote><\/div>
The buzz in the gray market, by no means an official metric, had indicated a muted listing.
On Wednesday, Paytm shares changed hands in the grey market<\/a> at a premium of just Rs 20-25 over the final issue price of Rs 2,150<\/a>. On Tuesday, they were trading at a premium of just Rs 30, a mere 1.4% increase over the final issue price, according to IPO Watch.
The stock was trading at Rs 2,300 a share on the grey market on November 7, a premium of Rs 150 or 7% over the issue price. This fell to Rs 80 on the first day of the IPO and by the close of the issue on November 10 it was at Rs 40.
Dealers tracking the grey market said the ultra-expensive pricing, poor financials and muted growth prospects were the key reasons for the poor listing.
Abhay Doshi, cofounder at UnlistedArena, said that Paytm was likely to be a flop on debut, despite the hype it generated as India’s biggest IPO ever. \"The valuations of the issue were on the expensive side. Also, the company has not shown any significant performance in the financials and it is losing market share,\" he said.
The Nov. 8-10 Paytm IPO—billed as India’s biggest<\/a>—comprised Rs 8,300 crore worth of new stock, while existing shareholders and promoters sold shares worth Rs 10,000 crore.
The issue was subscribed just 18%<\/a> on the first day of bidding, with the company receiving bids for 88.21 lakh of the 4.83 crore equity shares on offer. On day 2, it was subscribed 48%<\/a>, with 2.34 crore bids received. India’s biggest IPO was eventually fully subscribed<\/a> on day three after qualified institutional buyers stepped in.
ETtech’s Apoorva Mittal and Digbijay Mishra contributed to this story.<\/em>
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