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.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel