Paytm Shares Listing: Paytm shares will be listed shortly. Its IPO was the biggest ever in the country but the response from investors was subdued and it was fully subscribed on the last day itself. Now, due to the fall in the gray market premium and weak market sentiment in the last few trading days, market experts believe that today its shares are not likely to get listing gains against the issue price of Rs 2150 or even if found it will be very much. Will be less.
Fintech company Paytm’s IPO of Rs 18,300 crore was subscribed only 1.89 times. In such a situation, there is a confusion in front of the investors whether to hold or sell the shares. Apart from this, new investors are confused whether it will be right to buy shares on the day of listing or not? According to market experts, there is no possibility of special listing gains on its shares. At the same time, he believes that it will be right to book profit at the time of listing and when there is a correction in it, then you can buy its shares again.
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Investors will not get listing gain
- According to Divam Sharma, Co-Founder, Green Portfolio, the market sentiment is not strong and the enterprise value/sales valuations are at very high levels. Apart from this, the gray market premium of Paytm’s shares was Rs 150 last week, which came down to Rs 30 only. In such a situation, according to Sharma, there can be a flat listing of Paytm shares or only 10 percent of the listing gain can be found.
- According to Pavitra Shetty, co-founder and trainer of Tips2Trades, its premium is falling due to low subscription. The portion reserved for retail investors and institutional investors was fully subscribed but the portion reserved for non-institutional investors could not be fully subscribed. According to Shetty, many startups have had great listings recently, but considering Paytm’s current gray market premium, investment in Paytm is expected to generate listing gains of only 1-4 per cent.
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Advice on booking profit on listing
- According to Pavitra Shetty, IPO investors should book profit on the listing gain and then wait for 15-20% correction in its price to reinvest.
- According to Ankur Saraswat, Research Analyst, Trustline Securities, investors should adopt a post-listing strategy to book profits and new investors should wait for the correction instead of investing now.
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- On the other hand, according to Divam Sharma, Paytm should be seen as a long term investment. He has advised investors that investors who have been allotted its shares in the IPO can hold it for the long term because of its leadership in payments and diversification in e-commerce, cloud services and financial services in the coming years. Its growth is showing better in this.
- According to Anurag Singh, founder, Acid Capital Partners, Paytm has never made a profit and it does not see any possibility of turning profits soon. According to Anurag Singh, its shares can be listed at a discount and even if it can be listed at a discount, then investors should exit.
(Article: Kshitij Bhargava and Shaleen Agarwal)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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