Paytm shares soar over 80% in grey market on hopes of a killing in IPO

Shares of digital payments company Paytm have soared more than 80 per cent in the grey market, said people who deal in shares of unlisted companies. The gain is on optimism that the stock price will be valued at least 40 per cent higher than the current levels when the company goes public later this year, they said. “The stock has run up from Rs 12,500 per share a month ago to Rs 22,000. Traders are hoping that the stock will be valued at Rs 35,000 per share in the IPO. The company will go for a bonus issue to bring down the denomination,” said Dinesh Gupta, director of Unlis.....

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