Paytm shares will list on the stock exchanges today. The Ant Group-backed fintech raised Rs 18,300 crore from the primary market which saw marquee investors such as BlackRock and Government of Singapore participate as anchor investors. The IPO was subscribed 1.89 times at the end of the three-day share sale.
Paytm founder Vijay Shekhar Sharma was emotional during the listing ceremony.
As per stock market experts, the public issue received low response from investors and this may be seen in its listing too. They said that Paytm share price may have a 'tepid' debut today, according to LiveMint.
Akhil Rathi Vice President Advisory at Marwadi Shares and Finance Ltd, said, "Looking at Paytm financials for last three years, there is no major change in top line but losses have reduced as company have spent less for customer acquisition. In upcoming quarters the company is expected to post loss as company strategy is to grow consumer base, merchant base, advanced technology platform and rapidly scaling up for other segments. On Valuation front company is going to list at a Market Cap/Sales of 44.36 with a market cap of Rs.13, 93,788 mn and we expect a flat listing as valuations are demanding for a loss-making company and long investors should wait for better prices to enter the stock and watch out company growth in future."
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