![]() Why did this happen? There is a simple answer and a complicated answer. What this means is that investors who were allotted shares in the IPO and were still holding on to them as of Thursday had already seen the value of their investment fall by more than a quarter. On Thursday, when the stock was listed, its price fell and closed the day at Rs 1,564.2, or 27 per cent down from its allocation price. The investors who invested in Paytm’s IPO were allotted shares at a price of Rs 2,150 per share. Yet, unlike the IPOs of other unicorns - start-ups that are valued at more than a billion dollars - investors somehow didn’t buy Paytm’s story. Paytm’s initial public offering is the biggest IPO that the country has ever seen.
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