One97 Communications, the operator of India’s largest fintech platform , recorded a disappointing market debut on Thursday, after raising funds in the country’s biggest IPO.
The stock, which listed at a steep discount of 9%, hit the lower circuit of 20% half an hour before the closing bell. The shares ended at Rs 1,564.15 apiece, 27.25 % below the issue price of Rs 2,150.
The company’s market cap settled at $13.6 billion, lower than the $16 billion valuation it commanded at its last private fundraising in November 2019. Its early backers, including SoftBank, Ant Group, Alibaba and Elevation Capital, still made money from the listing.
Here’s a look at who was worth how much after Paytm’s listing.
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