One97-owned Paytm IPO opened for subscription on 8th November 2021 and it will remain open for bidding till 10th November 2021.
According to market observers, shares of Paytm are trading at a premium of ₹55 in the grey market today, which is ₹5 lower from its yesterday’s grey market premium of ₹60. Market observers went on to add that Paytm IPO GMP has been nosediving ever since it became available for trade in the grey market.
Market observers said that Paytm IPO GMP today at ₹55 simply means that grey market is expecting ₹55 premium from the public issue on listing date.
After two days of bidding, Paytm IPO has been subscribed 48 per cent.
Speaking on the reasons for not so encouraging Paytm IPO subscription status after two days of bidding; Abhay Doshi, Founder at UnlistedArena.com said, “Two foremost reasons I believe are expensive valuations and continuing losses.