The scrip was listed at Rs 1955, a discount of 9.07% to the issue price. So far, the scrip has hit a high of 1961.05 and a low of 1681 in the trading session. Over 4.01 lakh shares of the company changed hands in the counter on the BSE.

The IPO of One 97 Communications (Paytm) was subscribed 1.89 times. The issue opened for bidding on 8 November and it closed on 10 November. The price band of the IPO was fixed at Rs 2080 to Rs 2150 per share.

The IPO consisted of a fresh issue to raise Rs 8,300 crore and an offer of sale (OFS) worth Rs 10,000 crore. Out of the net proceeds, the company proposes to utilize Rs 4300 crore towards growing and strengthening Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services, Rs 2000 crore for investing in new business initiatives, acquisitions and strategic partnerships and balance for general corporate purposes.

In addition, the company expects to receive the benefits of listing of the equity shares on the stock exchanges, including among other things, enhancement of company's brand name among existing and potential consumers and merchants, retaining existing and attracting potential employees, and creation of a public market for the equity shares in India.

Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021. The company launched Paytm in 2009, as a mobile-first digital payments platform to enable cashless payments for customers giving them the power to make payments from their mobile phones. It started with bill payments and mobile top-ups as the first use cases, and Paytm Wallet as the first Paytm Payment Instrument.

The Paytm app is a payments-led super-app offering consumers with innovative and intuitive digital products and services. It offers consumers a wide selection of payment options on the Paytm app, which include (i) Paytm Payment Instruments, which allow them to use digital wallets, sub-wallets, bank accounts, buy-now-pay-later and wealth management accounts and (ii) major third-party instruments, such as debit and credit cards and net banking.

The company posted a revenue of Rs 890.8 crore and net loss of Rs 381.9 crore in quarter ended June 2021.

Meanwhile, a foreign broker initiated coverage on Paytm with an 'underperform' rating and a target price of Rs 1,200.