Paytm’s Rs 18,300 crore share sale through the country’s largest IPO opened for subscription on Monday morning. The company is planning to sell the shares at a price band of Rs 2,080-2,150 per share and retail investors can bid for a minimum of one lot of six shares to a maximum of 15 lots. The price of one lot of Paytm share will be Rs 12,900 according to the upper price band.
Special things related to this IPO..
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Paytm’s IPO consists of a fresh issue of Rs 8,300 crore and Offer for Sale (OFS) of Rs 10,000 crore by existing shareholders.
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Apart from Paytm MD and CEO Vijay Shankar, investors such as Japan’s Kesoft Bank, China’s Ant Group and Ali Baba apart from Elevation Capital are among the top investors to reduce their stake in the IPO.
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The OFS includes shares up to Rs 402.65 crore by Paytm CEO Vijay Shekhar Sharma, up to Rs 4,704.43 crore by Antfin (Netherlands) Holdings, up to Rs 784.82 crore by Alibaba.com Singapore E-commerce and up to Rs 75.02 crore by Elevation Capital v FII Holdings. includes sales of
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Paytm will use the returns from the IPO for various activities such as acquisition of consumers and merchants and giving them greater access to technology and financial services.
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The company will also invest in new business ventures, partnerships and acquisitions, while the remaining funds will be used for other corporate activities.
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Prior to the IPO, Paytm has allotted shares worth Rs 8,235 to over 100 institutional investors, including the Singapore government.
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According to a regulatory document issued on November 3, Paytm received interest from 122 institutional investors who had bought over 38.3 million shares at the rate of Rs 2,150 per share.
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One97 Communications, a digital company operating under the Paytm brand, had informed on Thursday that the initial public offering of Paytm will open for application on November 8, with a price range of Rs 2,080-2,150. This means that the valuation of the company will be between Rs 1.44 lakh crore and Rs 1.48 lakh crore.
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Applications for Initial Public Offering (IPO) can be given till November 10.
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Paytm’s IPO is likely to be the biggest in the corporate history of the country. This will surpass the record of Coal India Limited which had raised ₹15,000 crore more than a decade ago.