Paytm IPO Listing Today: All eyes are set on the listing of India’s biggest initial public offering (IPO) on Thursday, November 18. Digital payments platform Paytm’s parent company One97 Communications, which floated its maiden public offer days back, is going to make its debut at the Dalal Street amid tepid response from buyers. The Paytm IPO is the biggest of its kind in India, planning to raise Rs 18,300 crore from the offer. Paytm shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at 10 am on the day. Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants.
The Paytm IPO opened for subscription from November 1 to 3. The payments platform fixed the price band of the issue at Rs 2,080 – 2,150 per share. The offer was a combination of fresh issue of Rs 8,300 crore and an offer for sale of Rs 10,000 crore by selling shareholders including founder and investors.
One97 communications, the parent company of Paytm, received bids for 9.14 crore shares against 4.83 crore shares offered for sale. Qualified institutional buyers subscribed 2.79 times the portion reserved for them, while retail buyers bid 1.66 times the part set aside for them. Non-institutional buyers booked 24 per cent of the shares kept aside for them.
Paytm raised raised Rs 8,235 crore from 122 anchor investors by allocating 3.83 crore shares at Rs 2,150 a share. BlackRock Global Funds — through World Technology Fund (40.38 lakh shares) and World Financial Fund (6.376 lakh shares) – have garnered 12.2 per cent of the total anchor portion. CPPIB has been allotted about 43.62 lakh shares (11.4 per cent).