Paytm
Mainboard₹18,300 Cr issue
-9.07%
Listing gain over issue price
Issue size
₹18,300 Cr
1 lot at cut-off
₹12,900
Lot size
6shares
Open
08 Nov 2021
Close
10 Nov 2021
Allotment
15 Nov 2021
Listing
18 Nov 2021
Listing performance
Issue price
₹2,150
Listed at
₹1,955
Listing-day close
₹1,564.15
Latest price
₹1,616.10
Close on 23 Oct 2026
Listing gain
-9.07%
Return since issue
-24.83%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 08 Nov 2021 – 10 Nov 2021
- Listing date
- 18 Nov 2021
- Face value
- ₹1 per share
- Issue price
- ₹2,150 per share
- Lot size
- 6 shares
- Total issue size
- ₹18,300 Cr
- Market cap at offer price
- ₹1,39,379 Cr
- ISIN
- INE982J01020
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- First Floor, Devika Tower, Nehru Place, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 3,83,02,326 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 6 shares per lot, in multiples, at ₹2,150
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6 | ₹12,900 |
| Retail (max) | 15 | 90 | ₹1,93,500 |
| S-HNI (min) | 16 | 96 | ₹2,06,400 |
| S-HNI (max) | 77 | 462 | ₹9,93,300 |
| B-HNI (min) | 78 | 468 | ₹10,06,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
3,83,02,326
Anchor portion
₹8,235 Cr
at ₹2,150 per share
Valuation and performance
Valuation at offer price
₹2,150 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹1,39,379 Cr |
About Paytm
One 97 Communications Limited (Paytm) operates India's largest payments platform by number of consumers, merchants, transactions, and revenue as of March 31, 2021. The company serves 337 million registered consumers and 21.8 million registered merchants through a two-sided ecosystem enabling digital payments, commerce, and access to financial services. Founded in December 2000 and incorporated as a private limited company, the company transitioned to public limited status in May 2010. It generates revenue primarily through transaction fees from merchants for payment services (52.5%-77.4% of total revenue across fiscal years), convenience fees from consumers, subscription fees for merchant tools, and revenue from financial services including lending, insurance, and wealth management partnerships with financial institutions. The company has experienced significant growth, with GMV increasing from ₹2,292 billion in FY 2019 to ₹4,033 billion in FY 2021.
Company Analysis
from RHPOne 97 Communications Limited is India's leading digital payments and financial services ecosystem platform serving consumers and merchants across payments, commerce, cloud services, and financial services.
One 97 Communications Limited (Paytm) operates India's largest payments platform by number of consumers, merchants, transactions, and revenue as of March 31, 2021. The company serves 337 million registered consumers and 21.8 million registered merchants through a two-sided ecosystem enabling digital payments, commerce, and access to financial services. Founded in December 2000 and incorporated as a private limited company, the company transitioned to public limited status in May 2010. It generates revenue primarily through transaction fees from merchants for payment services (52.5%-77.4% of total revenue across fiscal years), convenience fees from consumers, subscription fees for merchant tools, and revenue from financial services including lending, insurance, and wealth management partnerships with financial institutions. The company has experienced significant growth, with GMV increasing from ₹2,292 billion in FY 2019 to ₹4,033 billion in FY 2021.
Digital payments and financial technologyPayment processing and gatewaysDigital wallets and prepaid instrumentsCommerce and e-commerceFinancial services (lending, insurance, wealth management)Cloud servicesTravel and entertainment ticketing
Objects of the Issue
- Growing and strengthening our Paytm ecosystem, including through acquisition of consumers and merchants and providing them with greater access to technology and financial services ₹43,000 million p.29
- Investing in new business initiatives, acquisitions and strategic partnerships ₹20,000 million p.29
- General corporate purposes p.29
- For details, see 'Objects of the Offer' on page 127 for details regarding the use of proceeds from the Fresh Issue ₹83,000 million (Fresh Issue portion) p.86
- Growing and strengthening our Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services ₹43,000 million p.127
- Investing in new business initiatives, acquisitions and strategic partnerships ₹20,000 million p.127
- General corporate purposes p.127
Issue Structure
- Total Issue
- Up to [●] Equity Shares aggregating up to ₹183,000 million
- Fresh Issue
- Up to [●] Equity Shares aggregating to ₹83,000 million
- Offer for Sale
- Up to [●] Equity Shares aggregating up to ₹100,000 million
- Price Band
- Floor Price: ₹[●] per Equity Share; Cap Price: ₹[●] per Equity Share
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹1 each
Business Model
Two-sided marketplace model: On the consumer side, the company generates revenue through transaction fees (percentage of GMV), convenience fees on certain payment types, and monetization of engaged users through financial services partnerships (lending, insurance, credit cards). On the merchant side, revenue comes from transaction fees based on GMV percentage, recurring subscription fees for tools like Soundbox POS devices, merchant lending, advertising, and cloud services. The company partners with financial institutions for services like Paytm Wallet, Paytm Postpaid (buy-now-pay-later), savings accounts via Paytm Payments Bank, and various financial products offered at little or no incremental acquisition cost.
Business Segments
Digital payment solutions including money transfers, in-store payments, bill payments through QR codes, payment gateways, and financial products (lending, insurance, wealth management) through partnerships with financial institutions and Paytm Payments Bank
Travel ticketing, entertainment and movie ticketing, e-commerce marketplace, and cloud services for businesses; revenue generated through transaction fees and convenience fees linked to transaction values
Combined service offering including digital payment transactions, lending facilitation through financial institution partnerships, and collection services. Includes operations of Paytm Payments Bank and related payment processing.
E-commerce and digital commerce services connecting merchants and consumers on the platform
Cloud-based technology services and infrastructure
Core payment and financial services including digital payments, UPI, wallet, postpaid, lending, insurance broking, wealth management and digital banking services through financial partners including Paytm Payments Bank
Ticketing, travel, online games, mini apps marketplace, advertising for small developers and businesses, loyalty programs and cloud services through Paytm Cloud (Paytm AI or PAI)
Provides comprehensive payment solutions to consumers (bill payments, money transfers, in-store payments via QR/POS) and merchants (payment gateway, QR codes, POS devices, Soundbox). Largest payments platform in India by transaction volume and GMV.
Offers consumer-facing commerce (travel ticketing, entertainment ticketing, gaming, shopping via mini-apps) and B2B cloud services (advertising, SME software including billing/ledger, enterprise solutions, mini-app platform).
Provides financial inclusion through digital banking (via 49% stake in Paytm Payments Bank), consumer and merchant lending (buy-now-pay-later, personal loans, merchant cash advances), insurance (attachment products and marketplace), and wealth management (mutual funds, equity trading, digital gold) in partnership with financial institutions.
Provides payment services including Paytm Wallet, Paytm UPI, payment gateway, QR code payments for merchants, and all-in-one POS solutions. Includes innovative devices like Soundbox and Soundbox 2.0 for voice-based payment confirmations.
Provides merchant cash advance loans to merchants through financial partners, distributed via the Paytm for Business app. Process is fully digital with real-time approval and disbursement. Plans to offer co-branded credit cards for merchants.
Offers attachment products such as movie and travel ticket cancellation protections. Through subsidiary Paytm Insurance Broking Private Limited, operates an insurance marketplace with auto, life and health insurance products, providing policy management and claim services.
Provides wealth management services through subsidiary Paytm Money, including direct mutual funds (zero commission), equity trading (cash equities, futures, options, IPOs, ETFs), gold investment (starting from Re. 1), and National Pension System (NPS) access.
Through associate Paytm Payments Bank Limited (licensed by RBI as a payments bank), provides savings and current accounts, ATM/debit cards, UPI services, prepaid payment instruments (wallet), remittance services, and real-time fixed deposit management.
Includes payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, wealth management
Consists of aggregator for digital products, ticketing business, providing voice and messaging platforms to the telecom operators and enterprise customers and other businesses
Provides digital payment solutions, financial services including transaction processing, merchant services, and banking-related services through subsidiaries like Paytm Payments Bank and Paytm Money
Provides e-commerce marketplace services, cloud infrastructure, and software services
Provides payment services to consumers and merchants for online and in-store transactions, and financial services including digital lending, mobile banking, insurance, and wealth management through financial institution partners
Provides commerce lifestyle destination including ticketing for travel and entertainment, gaming, food delivery, ride hailing, and cloud services such as advertising, mini-apps, and loyalty solutions to merchants
Digital payment solutions and payment gateway services
Distribution of financial products including mutual funds, insurance, and pension services
Online marketplace and commerce enablement platform
SWOT Analysis
Strengths
- • Leading digital ecosystem by scale metrics(p.28)
- • Massive consumer and merchant base(p.28)
- • Diversified revenue from core payment/financial services(p.28)
- • Two-sided ecosystem enables cross-selling and monetization(p.28)
- • Strong brand recognition and trademark portfolio(p.29)
- • Largest payments platform in India by scale and reach(p.166)
- • Trusted brand with high consumer and merchant recall(p.181)
- • Comprehensive ecosystem across payments, commerce, and financial services(p.181)
- • Proprietary technology stack across all payment layers(p.182)
- • Strong network effects creating sustainable competitive advantage(p.182)
- • Deep transactional insights into consumer and merchant behaviour(p.181)
- • Scalable technology platform handling massive transaction volumes(p.202)
- • Diversified financial services ecosystem across payments, lending, insurance, and wealth management(p.202)
- • Pioneer in QR code-based payments and innovator in digital payment solutions(p.204)
- • Strong brand recognition synonymous with mobile payments in India(p.206)
- • Large merchant and consumer base providing data-driven insights(p.207)
- • Omni-channel payment acceptance and developer-friendly integration(p.203)
- • Data-driven fraud detection and advanced risk management systems(p.205)
- • Mobile-first platform enabling financial services to underserved populations(p.203)
- • Professionally managed company without identifiable promoter dependence(p.261)
- • Diversified shareholder base with alignment of major institutional investors(p.261)
- • Robust board composition with independent directors and professional oversight(p.251)
- • Established governance framework with multiple board committees(p.252)
- • Established legal entity with long operating history(p.455)
- • Comprehensive regulatory approvals across multiple business segments(p.456)
- • Payments bank license from RBI with authorized dealer status(p.457)
- • Strong trademark portfolio protecting key brand assets(p.460)
Weaknesses
- • Persistent net losses and uncertain path to profitability(p.38)
- • High concentration among top merchants(p.43)
- • Negative operating cash flows in recent periods(p.44)
- • Contingent liabilities and regulatory compliance issues(p.45)
- • Dependence on Paytm Payments Bank for key services(p.40)
- • Regulatory compliance failures and pending investigations across multiple regulators(p.49)
- • Foreign investment approval issues and ongoing regulatory queries(p.49)
- • Show cause notice from insurance regulator regarding subsidiary investments(p.49)
- • Significant outstanding litigation with substantial tax demands(p.52)
- • High dependence on top suppliers for third-party services(p.50)
- • High employee attrition rates, particularly in engineering and product teams(p.61)
- • Inadvertent ESOP grant to ineligible employee with ongoing adjudication(p.50)
- • Dependence on third-party payment infrastructure with short-notice termination risk(p.50)
- • Material litigation involving founder and shareholders(p.52)
- • Pending operational and compliance matters with financial regulators(p.50)
- • Currently unprofitable with significant losses(p.177)
- • High dependence on financial institution partners for credit products(p.199)
- • Declining revenue from operations despite GMV growth(p.177)
- • Commerce segment revenue declined significantly(p.178)
- • Substantial operating losses and limited profitability history(p.231)
- • High dependence on subsidiaries and associates for key business operations(p.206)
- • Reliance on third-party financial institutions and partner ecosystems(p.204)
- • Regulatory approvals pending for key expansion initiatives(p.201)
- • Continued reliance on foreign currency receivables collections facing regulatory delays(p.273)
- • Subsidiary meeting NBFC criteria without formal registration status(p.273)
- • Multiple loss-making group companies reducing consolidated profitability(p.266)
- • Persistent outstanding foreign currency payables aging beyond permitted settlement periods(p.273)
- • Significant accumulated losses and negative retained earnings(p.333)
- • High goodwill impairment charges indicating deterioration in acquired business valuations(p.333)
- • Joint venture (Paytm First Games) with fully eroded net worth and negative carrying value(p.339)
- • Dependence on loss-making associates and joint ventures(p.339)
- • Significant impairment provisions on investments in associates(p.333)
- • Significant accumulated losses with limited path to profitability(p.366)
- • Heavy dependence on single major customer for revenue(p.379)
- • Significant concentration of business with related party - Paytm Payments Bank(p.352)
- • Material provisions for doubtful receivables indicating collection challenges(p.375)
- • Substantial unrecognized deferred tax assets due to uncertainty over realization(p.366)
- • Significant goodwill impairment charges in recent periods(p.386)
- • NBFC classification risk for subsidiary due to temporary financial asset composition(p.394)
- • Pending regulatory dispensation and NBFC registration application(p.394)
- • Compliance delays in e-filing board resolutions with MCA(p.401)
- • ESOP grant non-compliance under Companies Act with cumulative charge of INR 106 million(p.401)
- • Shareholder disputes regarding equity shares(p.401)
- • Overdue foreign currency receivables and payables exceeding regulatory timelines(p.405)
- • Multiple ongoing criminal proceedings against the company(p.448)
- • Significant regulatory enforcement action with substantial tax demand(p.450)
- • RBI 'Letter of Displeasure' regarding BBPOU non-compliance(p.449)
- • Subsidiary facing regulatory action on foreign direct investment norms(p.451)
- • Ongoing material arbitration with counter-claim from major merchant partner(p.451)
Opportunities
- • Large untapped TAM in Indian payments and financial services(p.29)
- • Digital-first adoption by SMBs and underserved merchants(p.29)
- • Expansion of ecosystem to new verticals and products(p.30)
- • Financial services monetization at low acquisition cost(p.28)
- • Expansion into new payment system infrastructure and Aadhaar-based payments(p.62)
- • Growth in financial services and lending products distribution(p.60)
- • Insurance distribution business expansion with substantial upfront investment(p.61)
- • Expansion into new verticals and geographic regions beyond core payment business(p.62)
- • International operations growth across multiple jurisdictions(p.63)
- • Large addressable market across digital payments, retail lending, and MSME credit(p.168)
- • Expansion of financial services to underserved populations(p.168)
- • Growing digitization of payment systems and increasing smartphone penetration(p.168)
- • Potential for international expansion leveraging proven technology(p.183)
- • Opportunity to scale wealth management and insurance offerings(p.183)
- • Expansion of merchant lending through digital credit scoring and instant disbursement(p.201)
- • Co-branded credit card offerings for merchants in partnership with commercial banks(p.201)
- • Growth in insurance distribution through marketplace and attachment products(p.201)
- • Expansion of wealth management services across mutual funds, equities, and gold(p.201)
- • Cross-selling of financial services leveraging existing customer base and data insights(p.201)
- • Potential conversion of Paytm Payments Bank to Small Finance Bank with lending capabilities(p.213)
- • International expansion through PayPay partnership and technology services(p.202)
- • Dividend policy framework allowing capital deployment flexibility for growth(p.268)
- • Substantial cash reserves and investment portfolio available for strategic deployment(p.289)
- • Established ecosystem of group companies across insurance, fintech and platform services(p.262)
- • Growth in payment and financial services segment(p.333)
- • Development of cloud and commerce services platform(p.333)
- • Strategic investments in insurance and fintech ecosystem(p.335)
- • Expansion into online gaming through joint venture(p.335)
- • Expansion into financial services and insurance verticals(p.350)
- • Growth in online gaming market through joint venture(p.350)
- • International expansion across multiple markets(p.350)
- • Employee stock option pool expansion to retain talent(p.343)
- • Growth in GMV from payments business and monetization of expanding merchant base(p.417)
- • Expansion of financial services revenue through lending partnerships(p.418)
- • Recovery in commerce GMV post-COVID lockdowns with 89% growth(p.421)
- • Revenue growth from cloud and advertising services(p.429)
- • Improved contribution margin from cost efficiencies and scale(p.423)
- • Growing consumer base and merchant ecosystem for monetization(p.417)
- • Increasing deployment of in-store devices for merchant engagement and revenue(p.419)
- • Expansion of insurance and broking services through regulatory approvals(p.457)
- • Stock broking and investment advisory services platform growth(p.456)
- • Pension services through PFRDA point of presence registrations(p.459)
- • Digital banking infrastructure development through UPI integration(p.458)
Threats
- • Rising payment processing charges from financial institutions and networks(p.39)
- • COVID-19 pandemic disruption to merchant operations and travel/entertainment sectors(p.40)
- • Regulatory compliance requirements for payments banks(p.47)
- • RBI enforcement actions and regulatory findings against Paytm Payments Bank(p.48)
- • Merchant attrition and loss of high-value merchant relationships(p.43)
- • Economic cyclicality and merchant spending behavior volatility(p.43)
- • Evolving and uncertain regulatory environment governing fintech and digital payments(p.52)
- • Regulatory separation requirements for payment aggregators and e-commerce marketplaces(p.52)
- • UPI transaction volume restrictions on third-party applications(p.52)
- • Data protection and privacy law complexity across multiple jurisdictions(p.54)
- • Intense competition from established and emerging market players(p.59)
- • Macro-economic slowdown impacting consumer credit demand and lending volumes(p.61)
- • Restrictions on foreign investment from FATF non-compliant jurisdictions(p.82)
- • India's sovereign credit rating downgrades affecting financing costs(p.82)
- • Pandemic and natural disaster risks affecting operations and consumer demand(p.85)
- • Intense competition in digital payments and fintech sectors(p.136)
- • Regulatory changes affecting payments and financial services(p.169)
- • India's economy highly sensitive to COVID-19 pandemic impacts(p.143)
- • Dependence on government policies for financial inclusion initiatives(p.144)
- • Evolving regulatory landscape and compliance requirements across multiple jurisdictions(p.211)
- • Regulatory restrictions on payment aggregator and gateway services(p.211)
- • Caps and restrictions on foreign investment in payments banks(p.217)
- • Deposit balance caps limiting payments bank growth potential(p.212)
- • Data security and privacy regulatory compliance burden(p.215)
- • Intense competition in digital payments and fintech sectors(p.205)
- • Dependence on infrastructure and technology partner reliability(p.202)
- • Exposure to ongoing COVID-19 pandemic uncertainty on business operations(p.272)
- • Regulatory compliance risks from RBI foreign exchange master direction requirements(p.273)
- • Risk of contingent liabilities from ESOP compliance adjudication proceedings(p.273)
- • Credit risk in loans to related parties and other entities(p.323)
- • Significant aged trade receivables indicating collection difficulties(p.325)
- • Concentration of debt obligations and borrowing dependence(p.329)
- • Foreign currency translation risks across multiple international subsidiaries(p.335)
- • Regulatory uncertainty and compliance requirements in payment and financial services(p.368)
- • COVID-19 pandemic impact on operations and market demand(p.391)
- • Foreign exchange volatility affecting foreign operations(p.373)
- • Contingent liabilities and legal matters creating financial uncertainty(p.368)
- • Trademark and patent infringement claims(p.368)
- • Intense competition in digital payments and fintech sectors(p.379)
- • COVID-19 pandemic impact on merchant operations and transaction volumes(p.429)
- • Decline in travel and entertainment industry due to COVID-19 restrictions(p.420)
- • Regulatory uncertainty regarding payment aggregator authorization(p.446)
- • RBI FDI compliance and post-facto approval requirement for insurance subsidiary investments(p.401)
- • IRDAI show cause notice regarding paid-up share capital increases in insurance subsidiary(p.403)
- • Delayed settlement of foreign currency payables exceeding regulatory timelines(p.405)
- • Fraud allegations through misuse of company's payment platform by third parties(p.452)
- • Enforcement Directorate investigations into money laundering concerns(p.449)
- • RBI show cause notice regarding Payments Bank BBPOU business transfer non-compliance(p.453)
- • Regulatory scrutiny of corporate agent registration applications(p.459)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Vijay Shekhar Sharma | Founder Selling Shareholder | 9.1% | — |
| Antfin (Netherlands) Holding B.V. | Investor Selling Shareholder | 27.9% | — |
| SAIF III Mauritius Company Limited | Investor Selling Shareholder | 11.4% | — |
| Vijay Shekhar Sharma | Founder Selling Shareholder | — | — |
| Antfin (Netherlands) Holding B.V. | Investor Selling Shareholder | — | — |
| Alibaba.com Singapore E-Commerce Private Limited | Investor Selling Shareholder | — | — |
| Elevation Capital V Limited | Investor Selling Shareholder | — | — |
| Antfin (Netherlands) Holding B.V. | Shareholder | 27.9% | — |
| SVF India Holdings (Cayman) Limited | Shareholder | 17.3% | — |
| SAIF III Mauritius Company Limited | Shareholder | 11.4% | — |
| Vijay Shekhar Sharma | Promoter/Founder | 9.1% | — |
| Alibaba.Com Singapore E-Commerce Private Limited | Shareholder | 6.8% | — |
| Vijay Shekhar Sharma | Founder/Promoter | — | — |
| Vijay Shekhar Sharma | Founder and Promoter | — | — |
| Vijay Shekhar Sharma (Founder) | Founder/Promoter | At least 3,100,000 equity shares on fully diluted basis (minimum 2.5%) | — |
| Ant Group Company Limited (API) | Principal Shareholder with 15% or more voting rights | — | — |
| SoftBank Vision Fund (SVF) | Principal Shareholder with 15% or more voting rights | — | — |
| SAIF Partners and Elevation Capital (jointly) | Principal Shareholders with nomination rights | At least 10% of Equity Shares on fully diluted basis (jointly, not individually) | — |
| Vijay Shekhar Sharma | Promoter | 14.98% | 14.95% |
| SAIF III Mauritius Company Limited | Promoter Group | 12.40% | 12.37% |
| Antfin (Netherlands) Holding B.V. | Promoter Group | 30.33% | 30.28% |
| SVF India Holding (Cayman) Limited | Promoter Group | 18.74% | 18.71% |
| Vijay Shekhar Sharma | Founder Selling Shareholder | — | — |
| Mr. Vijay Shekhar Sharma | Founder Selling Shareholder | — | — |
| Alibaba.com Singapore E-Commerce Private Limited | Selling Shareholder | — | — |
| Antfin (Netherlands) Holding B.V. | Selling Shareholder | — | — |
| SVF India Holdings (Cayman) Limited and SVF Panther (Cayman) Limited | SVF (Shareholder/Selling Shareholders) | — | — |
| SAIF Partners India IV Limited, SAIF Partners India V Limited, SAIF India V FII Holdings Limited, SAIF III Mauritius Company Limited | SAIF (Shareholder/Selling Shareholders) | — | — |
| Antfin (Netherlands) Holding B.V. | API (Shareholder/Selling Shareholder) | — | — |
Leadership
Vijay Shekhar Sharma · Founder/Founder Selling Shareholder
Amit Khera · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Paytm IPO FAQs
What is the lot size of Paytm IPO?
The minimum lot size of Paytm IPO is 6 shares. One lot costs ₹12,900 at the cut-off price.
When does Paytm IPO open and close?
Paytm IPO opened for subscription on 08 Nov 2021 and closed on 10 Nov 2021.
What is the listing date of Paytm IPO?
Paytm IPO listed on 18 Nov 2021.