Paytm's Rs 18,300-crore IPO opens today; here's all you need to know

Paytm’s Initial Public Offering (IPO) of Rs 18,300 crore opens for subscription today, 8 November. The IPO by the company’s parent One97 Com...

Paytm’s Initial Public Offering (IPO) of Rs 18,300 crore opens for subscription today, 8 November. The IPO by the company’s parent One97 Communications is expected to be the biggest public issue in the country and will end on 10 November.

The price band of Paytm shares has been fixed at Rs 2,080 to Rs 2,150 per share. Investors need to bid in the lot of six and its multiples, meaning that a minimum investment of Rs 12,840 is needed to get a single lot of the offer.

Paytm’s IPO includes Rs 10,000 crore worth of shares as an offer for sale (OFS) by existing shareholders as well fresh issue worth Rs 8,300 crore. The allotment is expected to be finalised by 15 November and listing by 18 November.

In the grey market, the Paytm shares have slipped to Rs 62 today, according to Mint. The company plans to use the proceeds from its IPO to acquire new customers and merchants as well as grow its business lines.

Paytm was launched as a platform for mobile recharging but grew exponentially after the 2016 demonetisation. Since its launch a decade ago, the company has also branched out to services such as insurance, bank deposits and remittances, and booking flight and film tickets.

It is presently the largest payments platform in the country with a Gross Merchandise Volume (GMV) of Rs 4 lakh crore in the financial year 2021. It offers various financial services to over 2.2 crore merchants and 33.7 crore consumers as of June this year.

Paytm has already raised Rs 8,235 crore from anchor investors before its IPO, which includes the sovereign wealth funds of Singapore and Abu Dhabi, BlackRock Global Funds, and CPPIB.

The IPO will open with Vijay Shekhar Sharma, the company’s managing director and CEO, offloading shares worth Rs 402.65 crore or $53.94 million. The company’s top investor Ant Financial is also expected to sell its stake in Paytm, worth $643 million.

Paytm’s IPO is likely to be the biggest issue in India's history, breaking a decade-long record by Coal India Ltd, which raised over Rs 15,200 crore in its IPO.

Read Also

General knowledge

Name

Article,3,ASE News,2,BBC News - Technology,44,Business,23,codecanyon,3,DPR,1,Education / Employment,1,Entertainment,10,General knowledge,2,IANS – The Siasat Daily,8,IFTTT,49,India news,3181,Latest news,1,Madhy Pradesh,465,main,19,National,162,News,1,PTI – The Siasat Daily,3,Sports,11,themeforest,1,World,22,World News,1079,
ltr
item
India World News: Paytm's Rs 18,300-crore IPO opens today; here's all you need to know
Paytm's Rs 18,300-crore IPO opens today; here's all you need to know
India World News
https://www.asenews.page/2021/11/paytms-rs-18300-crore-ipo-opens-today.html
https://www.asenews.page/
https://www.asenews.page/
https://www.asenews.page/2021/11/paytms-rs-18300-crore-ipo-opens-today.html
true
8343353446356446311
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content