PAYTM, which has launched the largest IPO in Indian history, has decided to raise an investment of Rs 18,300 crore at a hefty price of Rs 2,150.
Following the success of Somato and Nica in the Indian market, a large number of start-ups jumped on the IPO bandwagon, and investors were eager. But the PAYTM IPO has given investors huge losses from day one.
PAYTM CEO Vijay Sehgar Sharma has spoken on the Bombay Stock Exchange.
Vijay Sehgar Sharma tears
PAYTM CEO Vijay Sehgar Sharma broke down in tears today after hearing the national anthem at the company’s listing event on the Mumbai Stock Exchange today.
PAYTM Company
He said that the word ‘Bharat Bhagya Vidhata’ means the creator of the wealth of the Indian nation and in fact every employee of PAYTM has done this.
PAYTM Hope
And when he spoke, we responded to those who said that PAYTM could not achieve its present state of affairs at any time. PAYTM has given confidence to many thousands of Indians and PAYTM has also broken that big companies can only issue big IPOs to government companies.
New history
Following PAYTM, many companies are waiting to make new history in India. PAYTM CEO Vijay Sehgar Sharma has said that such success stories will continue to be published. Vijay also said that he hopes PAYTM will be a role model for many companies.
Investment mobilization
And many ask me how I can raise an investment at such a large share price, and I tell them I am not raising money by price, I am raising money by need.
Own 97 Communications
PAYTM’s parent company, One97 Communications, issued a stake in the IPO for Rs 2,150, listing at a 9 per cent discount, or 9 per cent lower, when listing this morning.
PAYTM stock status
Shares of Own 97 Communications fell 27.25 per cent to Rs 1564.15 from its IPO price and 19.99 per cent from its listed price at the close of trading today. As a result, the investment value of many thousands of investors has plummeted.
It is a great disappointment that young investors have been investing in PAYTM with great enthusiasm.
10 companies that gave the highest loss on the first day like PAYTM ..!
While Indian start-ups believed that they could not succeed if they went down in the stock market, Somato took the risk to save the company because it only had 6 months to run the company and somehow managed to get down on the Mumbai Stock Exchange and win.
While many start-ups have subsequently entered the stock market in the hopes given by Somato, Nica and PolicyBazaar have been successful. But PAYTM, which came up with a plan to attract huge investment, failed miserably.
PAYTM
PAYTM, which has launched the largest IPO in Indian history, has decided to raise about Rs 18,300 crore at a share price of Rs 2,150 crore. PAYTM fell about 27.25 per cent to Rs 1,564.15 on the first day of its IPO price on the Bombay Stock Exchange. This is 19.99 per cent less than the 9 per cent discount price listed.
IPO failure
Not only did the PAYTM IPO fail amid greatanticipation but it also inflicted huge losses on investors. PAYTM has lost about Rs 38,000 crore worth of investment through the IPO to all parties including its retail and institutional investors.
