Paytm shares go past ₹21,000 in grey market

NEW DELHI: Since the announcement of its initial public offering (IPO), the Paytm stock has been in great demand in the grey market. Over the past four days, the stock price has risen to Rs21,000 from Rs11,500. Investors remain willing to pay a premium on current prices, but no one is selling now.

“Last week, we sold Paytm stocks to investors between Rs11,000 and Rs12,000. The last trade we did in these shares was two days back at Rs21,000. Since then, there are no stocks available for purchase,” said Manish Mittal, director, Mittal Portfolios, a company that deals in unlisted and delisted securities.