Business Market 23 Nov 2021 Paytm effect: Red ho ...

Paytm effect: Red hot primary market cools down a bit

DECCAN CHRONICLE. | RAVI RANJAN PRASAD
Published Nov 23, 2021, 2:27 pm IST
Updated Nov 23, 2021, 2:28 pm IST
Paytm shares touched a low of Rs 1,271.25 on BSE and later settled 13.03 per cent lower at Rs 1,360.30
The BSE IPO Index has dipped close to 6 per cent after Paytm debuted, in the past two sessions. (PTI Photo)
 The BSE IPO Index has dipped close to 6 per cent after Paytm debuted, in the past two sessions. (PTI Photo)

Mumbai: Froth has started vanishing from recent IPO listings whose valuations were looking stretched after the weak listing of Paytm and over 15 per cent fall in its share price for the second day in a row on Monday.

Paytm shares touched a low of Rs 1,271.25 on BSE and later settled 13.03 per cent lower at Rs 1,360.30.

 

The BSE IPO Index has dipped close to 6 per cent after Paytm debuted, in the past two sessions.

Now 12 of the 48 main board IPO listings in 2021 are trading below their public issue price.

Those that fell sharply even on Monday after sharp a fall on Friday included Fino Payments Bank (-12.66 per cent), PB Fintech (-6.34), Sigachi Industries (-5.00), SJS Enterprises (-6.31), Sapph-ire Food (-2.61 ), Ami Organics (-6.39), Sansera Engineering (-7.84), Chem-plast Sanmar (4.45) and CarTrade Tech (-4.68 per cent).

However, investors continue to bet on new IPOs as Go Fashion Rs 1,013.1 crore IPO in the price band of Rs 655 to Rs 690 per equity share of Rs 10 face value was subscribed 135.46 times at the close of the public issue. The IPO has attracted a subscription worth over Rs 75,000 crore for issue sized at Rs 1,014 crore, market participants said.

 

The Sebi on Monday cleared three more companies' proposals to launch IPOs—Prudent Corporate Advisory Services, Med-plus Health Services and RateGain Travel Tech-nologies.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->