Paytm’s Rs 18,300-crore IPO — the largest to date on Dalal Street — was subscribed a total of 1.89 times with Qualified Institutional Investors bidding in the largest numbers.
Vishal Wagh expects the market sentiment to improve in the coming days but advises investors to book profits if the stock soars over 30% above the issue price of Rs 2,150.
Paytm shares today were trading with a muted premium of just Rs 30 apiece in the grey market, down from Rs 150 ahead of the IPO.
Some have predicted losses for another two-three years for Paytm, so how can we suggest someone to invest in such a company? So we are negative on it,” Vinod Nair, Head of Research, Geojit Financial Services told Financial Express Online.
Analysts question Paytm’s valuation — for a company that is yet to report profits — and advise long term investors to wait for a better entry point into the stock.
Earlier, AR Ramachandran, Co-founder & Trainer, Tips2Trades, told Financial Express Online that investors should wait for a decent correction in Paytm post listing.
Paytm’s share allotment was finalized yesterday.
To check the allotment status, investors need to select ‘equity’ as the issue type, and ‘Paytm Ltd’ as the issue name from the drop-down list.
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