Paytm launches India’s largest IPO, trades in red in initial minutes

Paytm launches India’s largest IPO, trades in red in initial minutes

Paytm became the largest public offering (IPO) launched on the Bombay Stock Exchange (BSE) as parent company One97 Communications conducted an IPO worth Rs 18,300 crore on Thursday.

However, amid weak market sentiment shortly after launch, Paytm’s stock traded at a loss and fell more than 20% in minutes.

Paytm’s chief financial officer, Madhur Deora, told ANI that the company’s IPO is not only the largest IPO in BSE, but also the largest fintech IPO in Asia and the fourth largest fintech IPO. Worldwide.

“Especially in the fintech sector, we have seen a lot of growth since monetization and the pandemic. Today, the largest IPO in BSE history took place here, not only the largest for BSE, but also the largest IPO for fintech in Asia and Asia. “The world’s fourth-largest fintech IPO,” Chauhan said.

“I am delighted that all these steps are leading us to a stronger economy,” he added. The IPO was announced at a traditional event held in the historic conference room of the Bombay Stock Exchange building, followed by a whining ceremony at exactly 10 a.m. to mark the official launch of the IPO.

The event was attended by Paytm Founder Vijay Shekhar Sharma, Director of One97 Communications, BSE MD and CEO Ashish Chauhan, and other dignitaries.

 

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