Paytm IPO half covered on Day-2 on interest from retail investors

The initial public offering (IPO) by Paytm parent One97 Communications was subscribed nearly 48 per cent at 4 pm on Tuesday — the second day of the issue.

The company is eyeing bids worth at least Rs 5,000 crore on the final day. While most of the bids in any IPO come on the final day, the response so far is nevertheless subdued, said market watchers.

The institutional investor portion was subscribed 45 per cent, the high networth individual (HNI) portion by 4 per cent and the retail investor portion by 1.2 times per cent.

They said modest premiums in the grey market could impact investments in the HNI category. Sources said Paytm shares are quoting at less than 5 per cent premium in the grey market.