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Paytm IPO - Listing Date, GMP & Subscription

One97 Communications Ltd IPO listing date: Nov 18, 2021 on NSE, BSE. Listed at ₹1564 (-27.3%) vs issue price of ₹2150. Subscribed 1.89x overall (QIB: 2.79x). Price band: ₹2,080-₹2,150, lot size 6 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Nov 17, 2021

Key Dates

IPO Open DateNov 8, 2021

IPO Close DateNov 10, 2021

Allotment DateNov 15, 2021

Refund DateNov 17, 2021

Demat Credit DateNov 17, 2021

Listing DateNov 18, 2021

Issue Details

Price Band₹2,080-₹2,150

Issue Price₹2150

Face Value₹1

Lot Size6 shares

Min Investment₹12,900

Issue Size₹18,300 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓350 million registered users

✓India's largest digital payments brand

⚠27% listing discount - one of India's worst ever

⚠GMP turned negative pre-listing

⚠Unprofitable with no clear profitability timeline

⚠Regulatory issues with RBI in 2024

About One97 Communications Ltd

Paytm is India's largest digital payments and financial services platform with 350 million registered users. The IPO was India's largest at the time at Rs 18,300 crore.

Subscription Breakdown

Overall Subscription1.89x

QIB (Institutional)2.79x

NII (HNI)2.45x

Retail1.66x

Listing Price

₹1564

Listing Gain

-27.3%

Issue Price

₹2150

stoicHQ Analysis

India's most-discussed IPO disaster - 27.3% listing discount on day one, continuing to fall for months after. QIB subscription at just 2.79x was the red flag. GMP turned negative pre-listing, correctly calling the outcome. A definitive case study in why subscription data matters more than hype.

Technology / Fintech2021All 2021 IPOs

IPO Listing Timeline

Previous IPO← PolicyBazaar IPO (listed Nov 15, 2021)Next IPOMapmyIndia IPO (listed Dec 21, 2021) →

More IPOs from 2021

Zomato IPO+52.6%Nykaa IPO+78.0%PolicyBazaar IPO+18.2%

Paytm IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Nov 17, 2021₹-586--27.3%

Nov 15, 2021₹-380--17.7%

Nov 10, 2021₹-120--5.6%

Nov 8, 2021₹0₹800.0%

Nov 5, 2021+₹40₹350+1.9%

Nov 2, 2021+₹80₹600+3.7%

Paytm IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Nov 8)0.18x0.00x0.24x0.45x

Day 2 (Nov 9)0.48x0.24x0.62x0.98x

Day 3 (Nov 10)1.89x2.79x2.45x1.66x

Anchor Investors

Allianz Global Investors₹1,200 crore

BlackRock Global Funds₹980 crore

Canada Pension Plan₹850 crore

SBI Mutual Fund₹620 crore

HDFC Mutual Fund₹540 crore

One97 Communications Ltd - Financials at IPO

YearRevenuePATNet Margin

FY19₹3,232 crore-₹3,959 crore-122.5%

FY20₹2,802 crore-₹2,943 crore-105.0%

FY21₹2,959 crore-₹1,701 crore-57.5%

Listed Peers - Technology / Fintech

ZomatoNew-Age Tech

+52.6% listing

NykaaNew-Age Tech

+78.0% listing

Frequently Asked Questions

When did Paytm IPO list?

Paytm IPO listed on November 18, 2021 on NSE and BSE at ₹1,564, a 27.3% discount to the issue price of ₹2,150. It was one of India's worst debut IPO performances.

What was the Paytm IPO GMP?

The grey market premium (GMP) for Paytm IPO turned deeply negative in the days before listing, falling to -₹586, which correctly predicted the 27.3% listing discount. GMP started slightly positive but fell sharply as institutional demand proved weak.

What was the Paytm IPO subscription status?

Paytm IPO was subscribed just 1.89x overall - a warning sign. QIB subscription was only 2.79x, NII (HNI) was 2.45x, and retail was 1.66x. Day 1 subscription was just 0.18x.

What is the Paytm IPO price band?

The Paytm IPO price band was ₹2,080-₹2,150 per share. Lot size was 6 shares. Minimum investment was ₹12,900. The issue size was ₹18,300 crore - the largest Indian IPO at the time.

What happened to Paytm after listing?

Paytm continued falling after its 27.3% listing discount, reaching below ₹500 by late 2022. In January 2024, the RBI issued restrictions on Paytm Payments Bank, causing a further sharp decline. The stock has since partially recovered.