Paytm share jumps by a large rate of 70 percent in Grey Market

Paytm share jumps by a large rate of 70 percent in Grey Market

According to a report in the Economic Times (ET), following media reports that Paytm is planning an IPO, the unlisted stock of Paytm’s parent company One97 Communications has risen by 70%. He met on May 28 to discuss an IPO plan to raise $3 billion. However, according to sources, the initial public offering will begin later this year, but the company is not yet ready to announce it.

If you use the Paytm service, you may want to conduct an IPO at almost twice the valuation. The company’s latest valuation was $16 billion when it raised $1 billion from SoftBank and Ant Financial in 2019. In the grey market, the company rose from 11,000 won to 18,500 won within a week. The grey market refers to the unofficial IPO market in which stocks or companies are traded.

The grey market before the listing of minerals, but unofficial futures/future contracts have been concluded. These markets are beyond the capabilities of the Securities and Exchange Commission of India (SEBI). Before the outbreak of the Covid-19 crisis, the stock rose more than early 2020. When the price fell to 19,000 rupees per share. It then fell to Rs 8,500 per share in May 2020.

Based on the current OTC stock price, the company’s valuation is about 15.5 billion U.S. dollars (1.11 lakh crore), which is lower than the fund’s valuation increased in November 2019. This is still a listed financial company such as SBI Cards & Payment Market value services, SBI Life Insurance, ICICI Prudential Life Insurance or banks such as IndusInd, Bandhan and Punjab National Bank.

It is crazy to buy One97 Communications these days, especially after the IPO news. The stock was trading at approximately 11,000 pounds before the beginning of last week, and the current trading price is higher than 18,000 pounds. If an IPO is conducted, the shares sold will exceed the 2010 issue price of Coal India, which is currently India’s largest public offering.

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