Paytm's use swelled in 2016 when the central government baned high-value currency bank notes, which boosted digital payments. Launched a decade ago as a platform for mobile recharging, Paytm grew rapidly after ride-hailing firm Uber listed it as a quick payment option. Investors such as Japan's SoftBank, China's Ant Group and Alibaba, and Elevation Capital were among the top investors who diluted their stakes in the IPO. At the upper price band, one lot of Paytm shares were priced at Rs 12,900. Paytm sold shares in the price band of Rs 2,080- Rs 2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots. Paytm IPO consisted of a fresh issue of Rs 8,300 crore and an offer for sale (OFS) by existing shareholders worth Rs 10,000 crore. One can check the allotment status for Paytm shares on the BSE or through the registrar's website - Link Intime India ( Also Read: Follow These Steps To Check Allotment Status For Paytm Shares ) The IPO which was subscribed 1.66 times by retail investors, 2.79 times by qualified institutional buyers (QIBs), and 0.24 times by non institutional investors, according to NSE data. Paytm allocated shares worth Rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead of the country's largest-ever stock market listing. Paytm's Rs 18,300 crore IPO is the biggest in the country's corporate history, breaking a record held by state-run Coal India Ltd, which raised Rs 15,000 crore over a decade ago. It has 337 million registered consumers.Shares of Paytm will be listed on the stock exchanges tomorrow - November 18, by 10:00 am Paytm handles the equivalent of nearly $80 billion of payments annually to 22 million merchants. Paytm has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly especially after the 2016 demonetisation in India. Apart from that, Paytm's managing director and CEO Vijay Shekhar Sharma will also offload shares worth up to $53.94 million ( ₹402.65 crore). The company's offering will open on Monday and top investor Ant Financial plans to sell its 27.9% stake in Paytm worth $643 million. Who will be diluting their shares in Paytm? It has signed up BlackRock, CPPIB together with the sovereign wealth funds of Singapore and Abu Dhabi as anchor investors. On Wednesday, Paytm, whose name is shorthand for "pay through mobile", raised ₹8,235 crore from anchor investors. The offer will be the biggest in the country after Coal India's IPO in 2010, wherein the state-owned company had garnered ₹15,200 crore. The IPO comprises fresh issuance of equity shares worth ₹8,300 crore and ₹10,000 crore from an offer for sale (OFS) by existing shareholders. A steep fall in the Paytm stock after listing added to the. The allotment will be finalised by November 15 and listing is expected on November 18. The stock market has corrected somewhat over the last few days, ending a months-long rally. The IPO will be available in the price band of ₹2,080- ₹2,150. The minimum investment will be ₹12,480 to get a single lot of the offer, promoted by One97 Communication, the parent company of Paytm. Those interested in bidding will have to do so in the lot of six and its multiples. The Paytm IPO will open for subscription on Monday. At $2.46 billion ( ₹18,300 crore), Paytm IPO is said to be the biggest in India. The three-day IPO will close on November 10. Paytm IPO will launch for three days - from November 8-10.(Reuters File Photo) This comes after five companies successfully concluded their IPOs last week. Digital payments company Paytm will open its initial public offer (IPO) for subscription on Monday (November 8).
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