Paytm IPO Update from November 8, 2021

Paytm IPO

Paytm IPO

Paytm's initial offer of ₹18,300 crores, country's biggest offer till date subscribed 18 per cent on November 8, 2021. It was the first day of bidding. It bids for 88.21 lakh equity shares, offer size is set for 4.83 crore shares. 

The portion set aside for retail investors subscribed 78 per cent. The reserved portion for non-institutional investors subscribed 2 per cent, while qualified institutional buyers bid for 16.78 lakh shares against 2.63 crore shares set aside for them.

The Paytm share sale via IPO was opened up yesterday, November 8. The last day for subscription is November 10, 2021.  One97 Communications, Paytm Parent Company, shares price band between ₹2,080 and ₹2,150 per share. The retail investors can bid for one lot of six shares, minimum, up to maximum 15 lots. The upper price band cost ₹12,900. 

Paytm IPO consists of an offer for sale of ₹10,000 crores from its existing investors and fresh issue of ₹8,300 crores. The company plans to use this for growth and development of Paytm ecosystem, including acquisitions and retention of consumers and merchants, while providing them greater access to technology and financial services. It also intends to invest in new business initiations and strategic partnerships. 

Source: Moneycontrol



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