Paytm ’s IPO was subscribed 18% on the first day of public issue on November 8.- The IPO will close for subscription on Wednesday, November 10.
- Paytm’s shares are being offered at a price band of ₹2,080-₹2,150.
The retail portion of Paytm’s IPO was subscribed 78%, as per BSE. The portion reserved for the qualified institutional buyers (QIBs) was subscribed 6% and the non-institutional investors’ portion was subscribed 2%.
Overall, Paytm received bidding for ₹87 lakh shares out of the 4.83 crore shares up for sale.
The IPO will close for subscription on Wednesday, November 10, and the allotment will be announced on November 15. The listing date has been set at November 18.
Paytm’s shares are being offered at a price band of ₹2,080-₹2,150, and the lot size has been set at six shares. This means one lot would cost up to ₹12,900 at the upper price band.
The company is seeking a valuation of $19.3-19.9 billion with this public issue.
Paytm will use the proceeds from the IPO to grow and strengthen its ecosystem by acquisition of consumers, merchants, new businesses and form strategic partnerships. The company will also look to strengthen its technology as well as financial services.
The company — which has already marked its presence in Canada, Singapore, UAE, Malaysia, Tanzania, Uganda and Bangladesh — will also be looking to further expand its international operations.
One 97 Communications earned ₹3,186.8 crore in revenue in the financial year 2021, with loss touching ₹1,704 crore. The company spent ₹532 crore on marketing expenses and ₹1,916.8 crore as payment processing fees in the same time frame.
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