Digital payments and financial services firm Paytm Offer price is fixed 2,150 each for its initial share-sale, at the top of its price range, 18,300 crore initial public offering (IPO), a prospectus was shown on Friday. Paytm had fixed the price of its shares in the price band 2,080-2,150 per share, Valuation of the company 1.39 lakh crore at the upper end of the price band.
In its initial share sale, bids were received for 9.14 crore equity shares against an offer size of 4.83 crore shares. Paytm IPO closed with 1.89 times subscription.
While the portion set aside for retail investors was oversubscribed by 1.7 times, demand was received by 2.8 times for institutional buyers. Non-institutional investors (NIIs) such as wealthy individuals and companies bought about 24% of the shares offered to them.
The IPO is the largest ever IPO in India in a decade after the public issue of Coal India. The three-day issue of Paytm parent company One97 Communications launched on November 1 and ended on November 3. Paytm IPO consisted of a fresh issue of equity shares. Offer for Sale (OFS) of shares up to Rs.8,300 crore and up 10,000 crores.
The share allotment of Paytm IPO is likely to take place next week on November 15, and the shares are expected to be listed on the major stock exchanges NSE and BSE on November 18. Link Intime India Private Limited is the registrar for the IPO.
Established in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants. It provides users with a wide range of services – payment services and financial services.
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