IPO of Paytm launching today. Today Paytm share of Rs 18300 crore subscription for sale is open. It will be done through an Initial Public offering which is one of the largest IPOs. The company is selling shares at Rs 2.080 – 2.150 per share. The investors can bid for one lot of a minimum of 6 shares and maximum they can bid up to 15 lots. In the upper price band, the value of Paym one lot will be Rs. 12900.
Things you want to be aware of about Paytm IPO :
- In Paytm IPO, the new issue of 8300 crore and current shareholders of Rs 10000 crore offer is included for sale (OSF).
- Other than CEO of Paytm Vijay Shekhar, Japan Soft Bank, Ant Group of China, and Alibaba with Elevation Capital Investors are on the list of top Investors. They will reduce their share in IPO.
- The objective of Paytm is to use the return from IPO for the benefit of consumers and Businessmen. They will assist in Financial and Technical services. Paytm will investments in new commercial enterprise ventures, partnerships, and acquisitions. The remaining cash will be used for different activities for corporates.
- It allocates shares of Rs 8,235 crore to 100 plus institutional investors. This includes the Singapore government. It will get shares prior to listing on the country’s largest stock market.
- Paytm interest will come from 122 institutional investors. These bought 38.3 million-plus shares for Rs 2,150, according to a regulatory document on November 3.
- The top investors are Blackrock Global Funds, Canada Pension Plan Investment Board, and Abu Dhabi Investment Authority.
- Paytm was a platform for mobile recharging launch a decade ago. Paytm grew sharply after ride-hailing firm Uber listed it as a quick payment option. The use of Paytm increases sharply in 2016 after the ban on high-value banknotes in India. This has boosts digital payments in India.
- Several companies including Paytm, have exploited the capital market this year in a frenzy of raising funds at record highs in the Indian stock market. It performs better than its Asian peers this year.
- 157 companies in India have raised $17.22 billion through IPOs this year to October 31. It includes TPP-backed Nayaka, Oyo Hotels & Rooms, and online insurance aggregator PolicyBazaar. This is in comparison to $8.54 billion which raises by 49 companies in the same period last year.
- This Paytm’s IPO expects to be the largest IPO in India’s corporate history. This may break the record of Coal India Ltd, which raise Rs 15,000 crore a decade ago.