Paytm’s initial public offering (IPO) got off to a poor start, with only 18% of shares sold on the first day.

Paytm’s initial public: Analysts had mixed feelings about Paytm’s IPO, with some hailing it as a strong bet to ride India’s fintech trend and others criticizing its high pricing. It is projected to be the largest since Coal India’s initial public offering (IPO) in 2010.

The initial public offering (IPO) of Paytm, a digital payments business, got off to a lackluster start on. Monday, the first day of the three-day timeframe.

Paytm’s initial public: Ordinary investors have purchased 78 percent of the stock, while non-institutional investors have purchased. 2% of the stock, and eligible institutional buyers have purchased 16.78 lakh shares out of the 2.63 crore designated for them.

The allotment of shares is scheduled for November 15, followed by the listing of the shares on November 18.

Analysts are split on the Paytm IPO, with some welcoming it as a certain way to profit from India’s fintech boom and others condemning its exorbitant pricing.

Nykaa and Zomato, a meal delivery service, were two more. IPOs that received a lot of attention on their initial days. The issue size, on the other hand, was far smaller than Paytm’s share sales.

One97 Communications Ltd, Paytm’s parent firm, is issuing. 4.83 crore shares in a $2.4 billion initial public offering, which will close on November 10. On Monday, it got offers for 88.23 lakh equity shares, according to stock market information.

The Paytm IPO is likely to be the largest since Coal India’s IPO in 2010. With a $1.3 billion (approximately 9,634 crore) share offering in. July, Zomato held the title of largest IPO this year until recently.

Paytm has set a price range for its shares of. 2,080-2,150 per share, with the high end of the range valuing the company at 1.39 lakh crore.

Therefore, Paytm’s founder and CEO, Vijay Shekhar Sharma, went to the. Tirumala Tirupati Temple in Andhra Pradesh on Monday to “seek blessing” as the IPO got underway.

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