Paytm’s highly anticipated IPO is slated to begin on November 8, 2021
Paytm’s initial public offering (IPO) is scheduled to start on Monday, November 8th, 2021 and is valued at Rs.18,300 billion, which is touted as the largest ever in India.
Paytm’s parent company One97 Communications will go public.
Let’s take a look at some of the important details of Paytm’s IPO:
Opening and closing dates:
Paytm’s IPO will open for subscription on Monday November 8th and will close on Wednesday November 10th. Interested investors can bid on a lot of six stocks and multiples. In the upper price range, investors must pay Rs 12,900 to receive a single ticket from One97 Communications.
The parent company has set the price range for Paytm’s upcoming IPO at Rs 2,080 to Rs 2,150 per share. In the upper price range, Paytm will increase Rs 18.300 billion.
The IPO consists of the issuance of new shares valued at Rs 8,300 billion and an offer for sale (OFS) by existing shareholders valued at Rs 10,000 billion.
In addition to Paytm managing director and CEO Vijay Shekhar Sharma, investors such as the J -anese SoftBank, the Chinese Ant Group and Alibaba as well as Elevation C -ital are among the top investors who are diluting their shares in the company.
Mr. Sharma will sell 18.73 lakh shares worth -proximately Rs 402.70 billion.
Allocation of odds:
The quota for private investors was set at 10 percent of the net offer. The Qualified Institutional Buyer (QIB) quota is set at 75 percent, while the Non-Institutional Investor (NII) quota is set at 15 percent.
Paytm will use the proceeds from the IPO for various activities such as “acquiring consumers and merchants and giving them better access to technology and financial services”.
It will also invest in new business ventures, partnerships and acquisitions, while the remaining funds will be used for other corporate activities.