Paytm makes weak debut, shares list at 9% discount to issue price

Paytm, owned by One97 Communications, made a weak debut in the secondary market on Thursday, November 18, as its shares listed at a discount to the issue price of its IPO. On the Bombay Stock Exchange (BSE), Paytm shares opened for the first time at Rs 1,955, a discount of 9.1 percent to the issue price of Rs 2,150. On the National Stock Exchange (NSE), the One97 stock began its journey at Rs 1,950, a discount of 9.3 percent.

The market debut of the One97 stock comes after the Paytm IPO was subscribed an overall 1.9 times the shares on offer. The Paytm IPO - the biggest public offer of all time in India - saw a tepid response from investors, with the portion reserved for non-institutional investors (NIIs) subscribed 24 percent and that for retail investors 1.6 times.

Paytm shares had slipped into discount from a marginal premium in the grey market ahead of the listing. (Check out Paytm GMP trend)