Paytm's Rs 18,300-crore IPO muted at 1.9 times subscription on Day 3

Market experts said domestic investors shunned the IPO as a high-risk bet

India’s largest initial public offering (IPO) by digital payments major Paytm’s parent company One97 Communications received a lukewarm response from investors, garnering just 1.9 times subscription. Nearly 80 per cent of the bids in the IPO came from overseas investors.

The institutional investor portion of the issue was subscribed 2.8 times; the wealthy investor portion saw just 24 per cent subscription; and the retail part was subscribed 1.7 times. Domestic institutions, including mutual funds, placed bids worth just Rs 155 crore, the data provided by the stock exchanges showed on Wednesday.

The response to Ant Group-backed Paytm’s IPO was in