Paytm likely to buck the trend with a tepid trading debut on Thursday

The institutional investor portion of the IPO was subscribed 2.8 times but nearly 80% of the bids came from overseas investors

The trading debut of Paytm isn’t expected to be as much of a hit like its startup peers Nykaa and Zomato. Grey market activity suggests the stock could list closer to or even slip below its issue price of Rs 2,150 per share.

One97 Communications, the parent company of digital payments major Paytm, will make its stock market debut on Thursday. The company’s Rs 18,300-crore IPO, the biggest-ever in the domestic capital markets, had managed to scrape through in terms of subscription thanks to foreign portfolio investors (FPIs).

The stock was quoting marginally below in the grey market ahead of