Paytm IPO Opens Today. Here Is All You Need To Know

Paytm’s Rs 18,300 crore share sale via initial public offering (IPO), the country’s largest IPO, will open for subscription at 10:00 am on Monday. The company is planning to sell shares in the price band of Rs 2,080-2,150 per share and retail investor can bid for minimum one lot of six shares up to maximum of 15 lots. At the upper price band one lot of Paytm shares will cost Rs 12,900.

Here are 10 things to know about Paytm IPO:

  1. Paytm’s IPO consists of fresh issue of Rs 8,300 crore and an offer for sale (OFS) by existing shareholders worth Rs 10,000 crore.

  2. Apart from Paytm’s managing director and CEO Vijay Shekhar Sharma, investors like Japan’s SoftBank, China’s Ant Group and Alibaba as well as Elevation Capital are among the top investors diluting their stakes in the IPO.

  3. Paytm is going to utilise the returns from the IPO for various activities like “acquisition of consumers and merchants and providing them with greater access to technology and financial services”. The company will also invest in new business ventures, partnerships and acquisitions, while the remaining funds will be used for other corporate activities.

  4. Ahead of the IPO, Paytm allocated shares worth Rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead the country’s largest stock market listing.

  5. Paytm garnered interest from 122 institutional investors who bought more than 38.3 million shares for Rs 2,150 apiece, according to a regulatory document dated November 3.

  6. BlackRock Global Funds, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority were among the investors.

  7. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. Its use swelled further in 2016 when a ban on high-value currency bank notes in India boosted digital payments.

  8. Several companies including Paytm have tapped capital markets this year in a fund-raising frenzy on the back of record highs hit by the Indian stock market, which has outperformed Asian peers so far this year.

  9. In India, 157 companies including TPG-backed Nykaa, Oyo Hotels and Rooms and online insurance aggregator Policybazaar have raised $17.22 billion via IPOs this year as of October 31, compared with $8.54 billion raised by 49 companies in the same period last year, according to Refinitiv data.

  10. Paytm’s IPO is likely to be the biggest in the country’s corporate history, breaking a record held by Coal India Ltd, which raised Rs 15,000 crore more than a decade earlier.

Html code here! Replace this with any non empty raw html code and that's it.

Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here

Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock