Paytm IPO: The preliminary public providing (IPO) of One97 Communications, the mum or dad entity of digital funds agency Paytm, has opened for subscription on Monday, November 8, 2021, at a worth band of Rs 2,080-2,150 per share. The provide can be obtainable until Wednesday, November 10, 2021.
Through the provide, One97 Communications goals to lift a whopping Rs 18,300 crore, making it the largest-ever IPO in India surpassing the IPO of state-run Coal India which raised over Rs 15,000 crore in 2010.
Key issues to learn about Paytm IPO
The Paytm IPO contains a recent difficulty of fairness shares price Rs 8,300 crore and a suggestion on the market (OFS) price Rs 10,000 crore by current shareholders together with its founder Vijay Shekhar Sharma together with Ant Financials, Alibaba, Elevation Capital, and SAIF III Mauritius Company, Saif Partners.
The Paytm IPO has obtained 75 per cent reserved for certified institutional consumers (QIBs) and 15 per cent reserved for non-institutional buyers (NIIs). The remaining 10 per cent of the difficulty is on the market for retail buyers.
The proceeds from the recent difficulty can be used in the direction of (1) Growing and strengthening our Paytm ecosystem, together with by way of acquisition of customers and retailers and offering them with better entry to know-how and monetary companies, (2) Investing in new enterprise initiatives, acquisitions and strategic partnerships and, (3) For normal company functions, in line with the knowledge within the purple herring prospectus (RHP).
Investors who want to subscribe to Paytm IPO can bid in numerous six fairness shares and multiples thereafter. At the higher worth band, they are going to be shelling out Rs 12,900 to get a single lot of One 97 Communications. The shares can be listed on each BSE in addition to the National Stock Exchange (NSE).
The candidates additionally should notice that the cut-off time for UPI mandate affirmation is Thursday, November 11, 2021, upto 12:00 pm. If they fail to take action then their utility will not be thought-about.
Morgan Stanley India Company, Goldman Sachs (India) Securities, Axis Capital, ICICI Securities, J.P. Morgan India, Citigroup Global Markets India and HDFC Bank are the ebook working lead managers to the IPO. Link Intime India is the registrar of the difficulty.
Before heading into the IPO, final week Paytm had raised Rs 8,235 crore (45 per cent of the full difficulty dimension) from 122 anchor buyers in lieu of 38,302,326 fairness shares at Rs 2,150 every.
The anchor investor spherical noticed participation from likes of Blackrock Global Funds, Canada Pension Plan Investment Board, Aditya Birla Sun Life Trustee, Government of Singapore, Vanguard, Schroder International Selection Fund, Sands Capital Funds, Mirae Asset, Marshall Wace Investment Strategies, Fidelity, UBS, Janus Henderson, Nomura India Investment Fund, HDFC Mutual Fund, Morgan Stanley Asia (Singapore), Goldman Sachs (Singapore), amongst others.
The share allotment is more likely to happen on Monday, November 15, 2021, and the shares are anticipated to be listed on Thursday, November 18, 2021, in line with the timeline given within the RHP.