Paytm IPO: The firm sold shares in the price band Rs 2,080- Rs 2,150 per share Leading digital mobile payments platform - Paytm, is set to be listed on the stock exchanges tomorrow - November 18, days after its initial public offering (IPO) concluded on November 10.
The country's biggest IPO so far - only next to Coal India, was subscribed 1.89 times by the end of its bidding process.
Shares of Paytm will be listed on the stock exchanges tomorrow - November 18, by 10:00 amPaytm's Rs 18,300crore IPO is the biggest in the country's corporate history, breaking a record held by state-run Coal India Ltd, which raised Rs 15,000 crore over a decade ago.Paytm allocated shares worth Rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead of the country's largest-ever stock market listing.The IPO which was subscribed 1.66 times byretail investors, 2.79 times by qualified institutional buyers (QIBs), and 0.24 times bynon institutional investors, according to NSE data.One cancheck the allotment status for Paytm shares on the BSE or through the registrar's website Link Intime India (Also Read: Follow These StepsTo Check Allotment Status For Paytm Shares)PaytmIPOconsistedof a fresh issue of Rs 8,300 crore and an offer for sale (OFS) by existing shareholders worth Rs 10,000 crore.Paytm sold shares in the price band of Rs 2,080- Rs 2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots.
At the upper price band, one lot of Paytm shares were priced at Rs 12,900.Investors such asJapan's SoftBank, China's Ant Group and Alibaba, andElevation Capital were among the top investors who dilutedtheir stakes in the IPO.Launched a decade ago as a platform for mobile recharging, Paytm grew rapidlyafter ride-hailing firm Uber listed it as a quick payment option.Paytm's useswelledin 2016 when the central governmentbanedhigh-value currency bank notes, which boosted digital payments.