Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Paytm IPO subscribed 1.89 times on the final day

The response from investors to the IPO of Paytm has been muted when compared to the issues of Zomato or Nykaa.

Paytm IPO subscribed 1.89 times on the final day

Wednesday November 10, 2021 , 2 min Read

The initial public offering (IPO) of One97 Communications— the parent company of fintech startup Paytm — got subscribed 1.89 times on Wednesday, according to information on the Bombay Stock Exchange (BSE).


The IPO received bids for over 9.14 crore shares against the total issue size of 4.84 crores. The issue was open for subscription from November 8 to 10.


The fintech startup is aiming to raise Rs 18,300 crore through this public offer and it had a modest start on the first day with only 18 percent subscription and closed at 48 percent on the second day.

Paytm Payments Bank


The shares, which are to be allocated for qualified institutional buyers (QIBs), were subscribed 2.79 times, while those of non-institutional investors (NIIs) were subscribed 0.24 times. Shares of retail individual investors (RIIs) were subscribed 1.66 times.


Paytm's IPO comprises the issuance of fresh equity shares worth Rs 8,300 crore and Offer for Sale (OFS) by existing shareholders to the tune of Rs 10,000 crore. It has already raised Rs 8,235 crore from anchor investors who subscribed at a price of Rs 2,149 per share.


The price band of PaytmIPO was in the range of Rs 2080- Rs 2150.


One of the biggest for the Indian stock markets, Paytm's IPO surpassed that of Coal India of Rs 15,000 crore in 2010.


The public issue will see some of the existing shareholders of Paytm like founder Vijay Shekhar Sharma, SoftBank, Ant Group and Elevation Capital diluting their stakes. Vijay will sell Rs 402.65 crore worth of shares through an offer for sale.


The anchor investors who participated in the OFS include the likes of BlackRock Global Funds, Canada Pension Plan Investment Board, Abu Dhabi Investment Authority as well leading domestic mutual funds.

Paytm plans to use the proceeds of the IPO for various activities like adding consumers in terms of retail and merchants besides making investments into new business ventures.