Paytm IPO news: After the news of the IPO, the stock of Paytm has jumped more than 100 percent in the last five days in the gray market.
Ever since the news of Paytm IPO has come, there is a tremendous increase in its share price in the gray market. According to the report published in Financial Express, on June 2, the share of Paytm has reached the level of 24 thousand in the gray market. Before the news of the IPO, it was trading in the range of 11-12 thousand in the gray market.
According to dealers, in the last 5 days, its stock has reached from the range of 11 thousand to the range of 24 thousand. It is likely to increase further in the coming days. Last week, the board of directors of Paytm has approved the raising of funds of $ 3 billion i.e. 22 thousand crore rupees through IPO.
Aditya Kondavar of JST Investments told Financial Express that the company’s board has just given the green light to the IPO. So far no decision has been taken regarding the issue price. In such a situation, it is possible that the issue price is less than the gray market price.
If the company is successful in achieving the target as per its plan, then it can be one of the biggest IPO in the country. Paytm’s shareholders include Alibaba’s Ant Group (29.71 per cent), SoftBank Vision Fund (19.63 per cent), SAIF Partners (18.56 per cent), Vijay Shekhar Sharma (14.67 per cent). AGH Holding, T Rowe Price and Discovery Capital and Berkshire Hathway has an overall stake of less than 10 per cent in the company.
There was a tremendous tussle between buyers and sellers in the stock market today and finally the Sensex fell by 85 points at the level of 51849 and the Nifty rose by 1.35 points to close at 15576. 20. During trading, Nifty had reached a low of 15459 and a high of 15576. Apart from Reliance, the performance of steel companies especially in metal today dominated the Nifty by buyers.