Paytm IPO: The firm sold shares in the price band Rs 2,080- Rs 2,150 per share
Leading digital mobile payments platform – Paytm, is set to be listed on the stock exchanges tomorrow – November 18, days after its initial public offering (IPO) concluded on November 10. The country’s biggest IPO so far – only next to Coal India, was subscribed 1.89 times by the end of its bidding process.
Paytm Shares To Be Listed Tomorrow: Here’s All You Need To Know
Shares of Paytm will be listed on the stock exchanges tomorrow – November 18, by 10:00 am
Paytm’s Rs 18,3000 crore IPO is the biggest in the country’s corporate history, breaking a record held by state-run Coal India Ltd, which raised Rs 15,000 crore over a decade ago.
Paytm allocated shares worth Rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead of the country’s largest-ever stock market listing.
The IPO which was subscribed 1.66 times by retail investors, 2.79 times by qualified institutional buyers (QIBs), and 0.24 times by non institutional investors, according to NSE data.
One can check the allotment status for Paytm shares on the BSE or through the registrar’s website — Link Intime India (Also Read: Follow These Steps To Check Allotment Status For Paytm Shares )
Paytm IPO consisted of a fresh issue of Rs 8,300 crore and an offer for sale (OFS) by existing shareholders worth Rs 10,000 crore.
Paytm sold shares in the price band of Rs 2,080- Rs 2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots. At the upper price band, one lot of Paytm shares were priced at Rs 12,900.
Investors such as Japan’s SoftBank, China’s Ant Group and Alibaba, and Elevation Capital were among the top investors who diluted their stakes in the IPO.
Launched a decade ago as a platform for mobile recharging, Paytm grew rapidly after ride-hailing firm Uber listed it as a quick payment option.
Paytm’s use swelled in 2016 when the central government baned high-value currency bank notes, which boosted digital payments.
