The Paytm IPO has received a good response from investors and this is also reflected in its listing. Stock market experts say that Paytm has been trending the most since the announcement of its IPO.
New Delhi: According to stock market insiders, the Paytm IPO has received a good response from investors and this is also reflected in its listing.
Stock market experts say that Paytm has been trending the most since the announcement of its IPO, but the issue brought for subscription has received poor response from investors due to high price and loss.
After the listing of Paytm IPO, about a dozen companies, which are working on it, have now gone to follow Extra Investor Security. These include Oravel Stays Ltd, the company that operates Oyo. The company is looking at a billion-dollar increase. They also include API Holdings, the parent company of PharmEasy, which provides online pharmacy services.
Companies with new listings in the market now plan to bring small IPOs, which can be a difficult time for share prices. Meanwhile, shares of Paytm's rival company MobiQuick Systems Ltd have fallen by 40 per cent in the so-called gray market.
Some IPOs smaller than Paytm operating in India
Orwell State Limited - Rs 70 billion (operator of hotel booking startup Oyo)
API Holding - Rs. 63 Billion (Pharmacy's parent company providing pharmacy services)
Delivery - Rs 50 Billion (Logistics)
Drum Technology - Rs 30 Billion (Automobile E-Commerce Platform)
Elin Electronics Limited - Rs 24 Billion (a company manufacturing small lighting, fan and kitchen appliances)
MobiQuick Systems Limited - Rs 19 Billion (Digital Wallet & Payments Startup)
Tarson Products - Rs 10 Billion (Suppliers of Labware Products)
Go Fashion India - Rs 10 billion (retailer of women's products)
Fusion Microfinance - Rs. 6 Billion (Financial Services Provider Company)
Meddeplus Health Services - Rs 6 Billion (Pharmacy Retailer)
Puranic Builders - Rs 5 Billion (Resident Real Estate Builder)
Jesus Industry - Rs 1 Billion (Industrial Products Manufactures)
Shares of Paytm had fallen 30 per cent since the start of trading last week. Meanwhile, the company could not avoid losses in its last two sessions till Tuesday. According to Edelweiss Financial Services Limited, some companies are looking for profits after accelerating transactions in the IPO market so far this year.
Meanwhile, Paytm's valuation sales are likely to increase 26 times by FY2023.