Paytm IPO to open on November 8, 2021 at price band of Rs. 2080-2150 per share
Mumbai, 1st November, 2021: The Rs.18,300 crore IPO of Paytm, One97 Communications, the parent entity of digital payments firm Paytm, will open on Monday, November 8, 2021, and will be available for subscription till Wednesday, November 10, 2021.
The price band of the IPO has been fixed at Rs. 2,080-2,150 per share of the face value of Rs 1 each. Last week, the company had received a go-ahead from markets regulator Sebi.
The digital payments giant aims to raise Rs. 18,300 crores through the offer. The company has increased its IPO size by Rs. 1,700 crore from the earlier Rs. 16,600 crore, with the increment coming entirely from the existing shareholders selling more stake.
The Paytm IPO comprises a fresh issue of equity shares worth Rs. 8,300 crore and an offer for sale (OFS) worth Rs. 10,000 crore by existing shareholders including its founder Vijay Shekhar Sharma along with Ant Financials, Alibaba, Elevation Capital, and SAIF III Mauritius Company, Saif Partners, as per the information provided in the red herring prospectus (RHP) available on the National Stock Exchange (NSE).
At Rs. 18,300 crore, Paytm’s IPO will topple the IPO of state-run Coal India as the largest ever in the country. Coal India had raised Rs. 15,000 crores in 2010.
Investors who wish to subscribe to Paytm’s IPO can bid in the lot of six equity shares and multiples thereof, as per its newspaper advertisement to Financial Express. At the upper price band, they will have to shell out Rs.12,900 to get a single lot of One 97 Communications. The shares will be listed on both BSE and NSE.
The Paytm IPO will have 75 per cent reserved for qualified institutional buyers (QIBs) and 15 per cent will be reserved for non-institutional investors (NIIs). The remaining 10 per cent of the issue will be available for retail investors.
No comments:
Post a Comment