This is Spain-based Allfunds IPO. It is also the second largest fintech IPO of 2021 globally after
Digital payments and financial services firm Paytm has set an offer price of Rs 2,150 for its initial share-sale.
As per the final prospectus filed by the company with the Registrar of Companies on November 12, the shares of Paytm are expected to be listed on November 18.
Paytm had priced its shares in the price band of ₹2,080-2,150 per share, putting the company at the upper end of the price band at ₹1.39 lakh crore.
With an initial public offering (IPO) of ₹18,300 crore share sale, Paytm IPO has become the largest fintech IPO in the Asia Pacific region.
It is also the second largest fintech IPO of 2021 globally after Spain-based Allfunds IPO.
Overall, Paytm will be the fourth largest fintech stock debut globally.
The company document shares a preview of the fees paid to legal partners, Book Running Lead Managers (BRLMs) and other consultants for its IPO.
As per the prospectus, Paytm will pay its BRLM ₹323.9 crore, which is about 1.8% of the total issue size of ₹18,300 crore and is the largest cumulative BRLM payment ever in India.
Paytm had appointed Morgan Stanley, Goldman Sachs, Axis Capital, ICICI Securities, JP Morgan, Citi and HDFC Bank as its BRLMs for the IPO.
Legal advisors in India and global capital markets, including Shardul Amarchand, Latham & Watkins, Khaitan & Co, and Shearman & Sterling, have also acted in IPOs in various capacities. Paytm IPO closes with 1.89x subscription.
A total of 9,14,09,844 Paytm shares were bid against as against 4,83,89,422 shares available. Paytm got the total bid of ₹19,653 crore versus ₹10,065 crore for the main book.
According to data from exchanges, Paytm’s QIB portion was oversubscribed by 2.79 times with participation from foreign institutional investors, domestic financial institutions (banks/financial institutions (FIs)/insurance companies) and mutual funds.
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