Bangalore : One97 Communications Ltd., the company that operates the Paytm brand, has picked up ₹8,235 crore ($1.1 billion) from anchor investors, with the anchor round being oversubscribed 10 times by 74 investors.
The anchor round saw participation from both domestic and foreign institutional investors, with 21 investors bidding more than ₹100 crore, as a part of Paytm’s anchor round.
Top investors include BlackRock Inc., Canada Pension Plan Investment Board (CPPIB), Aditya Birla Mutual Fund and GIC Pte. Whoever bid the highest.
Through various funds, BlackRock has invested ₹1,045 crore, CPPIB invested ₹938 crore, Aditya Birla Mutual Fund invests ₹555 cr and GIC Pte. Investment ₹533 crore, as a part of Paytm’s anchor round.
The financial services company’s IPO includes participation from pension funds, retirement funds as well as the Government of Singapore, the Abu Dhabi Investment Authority (ADIA), New York City, Texas Teachers Retirement, among others.
Other investors also included Standard Life Aberdeen, Vanguard and Fidelity and UBS.
With this, Paytm has already achieved 45% of its total ₹Initial Public Offer (IPO) issue size of 18,300 crores.
Paytm increases its issue size ₹from 18,300 crores ₹16,600 crore at the beginning of last month.
Mint had reported on November 2, citing sources, that Paytm is looking to raise $1.1 billion from anchor investors, in what is believed to be India’s biggest IPO ever. BlackRock Inc, Canada Pension Plan Investment Board and GIC Pte were expected to be the top bidders for Paytm’s anchor round, Mint had earlier reported.
Out of the total public offering, Paytm . will sell new shares of ₹8,300 crore, the existing shareholders of the company are selling to another ₹10,000 crore shares as part of the increased IPO size.
The price band is placed in the range of ₹2,080- ₹2,150 by the company and will open for subscription during November 8-10.
Under the leadership of Founder and Managing Director Sharma, Paytm has expanded beyond digital payments into banking, credit cards, financial services and wealth management. It also supports India’s financial payments backbone, Unified Payments Interface or UPI.
“We are now starting the journey of adding more partners to our business. In private markets, companies have embarked on a much bigger phase than us. I wish we had the opportunity to bring in a larger number of shareholders in Paytm. I wish Paytm had millions of shareholders one day,” Sharma said in a recent conversation with Mint on October 29.
“We are positive that we will attract long-term shareholders and investors who will understand that the true value in Paytm is not about quarter-on-quarter profit distribution, but the long-term change it brings,” Sharma said.
India’s market for the first-time share sale is booming on the debut of tech firms including Zomato Ltd, which raised $1.3 billion in July this year.
Paytm’s total user base has grown to 337 million registered users and over 21.8 million registered merchants for the quarter ended June 30, according to the company’s red herring prospectus.
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