Financial services provider Paytm’s Initial Public Offering or IPO has recently concluded and the share allotment process has already been completed. Paytm IPOHeld by its parent company One97 Communications, received a swift response from investors. As per stock exchange data, the Paytm IPO was subscribed 1.89 till the last day of bidding. However, on Tuesday, November 16, Paytm shares dried up just days before its listing in the gray market. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), This did not bode well for the company, which has made India’s biggest public offer of Rs 18,300 crore.
Paytm’s parent company One97 Communications has received bids for 9.14 crore shares against 4.83 crore shares offered for sale. This has been done largely on the support of qualified institutional buyers who have oversubscribed IPO From the day of its inauguration. QIBs subscribed 2.79 times the share reserved for them, while retail buyers bid 1.66 times the share earmarked for them. Non-institutional buyers have booked 24 per cent of the shares set aside for them.
Paytm IPO Listing, Refund Dates
Paytm IPO is set to get listed on National Stock Exchange and Bombay Stock Exchange. The listing is likely to happen on November 18. The basis for allotment of an IPO is when its registrar publishes a document after finalizing the share allotment. It is based on regulatory guidelines. Those who will not be selected in the list will be refunded in their bank accounts on November 16. Credit to the demat account will be done on November 17. The bidders of the offer may view the Paytm IPO listing at the registrar link Intime India Limited website or BSE website.
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Paytm shares were trading at their lowest premium in the gray market on Tuesday amid the then-trading IPO. Paytm’s gray market premium was Rs 30, with shares available at Rs 2,180 against an upper price limit of Rs 2,180 per share. This was 1.4 per cent higher than the final issue price. According to IPO Watch, the premium has fallen from 2.3 per cent last week.
Paytm IPO Offer Details:
The offer was a combination of a fresh issue of Rs 8,300 crore and an Offer for Sale (OFS) of Rs 10,000 crore by selling to the shareholders including the founder and investors.
Founder Vijay Shekhar Sharma sold shares worth Rs 402.65 crore through OFS. Among investors, Antfin (Netherlands) Holding BV sold shares worth Rs 4,704.43 crore, Alibaba.com Singapore E-commerce sold shares worth Rs 784.82 crore, SVF Panther (Cayman) Rs 1,689.03 crore, and BH International Holdings Rs. Shares worth 301.77 crores through OFS.
Elevation Capital V FII Holdings and Elevation Capital V sold shares worth Rs 75.02 crore and Rs 64.01 crore, while SAIF III Mauritius Company and SAIF Partners India IV sold shares worth Rs 1,327.65 crore and Rs 563.63 crore through OFS. Mountain Capital Fund LP, RNT Associates, DG PTM LP, Ravi Datla, Amit Khanna, Prakhar Srivastava, Saurabh Sharma, Manas Bisht, Sanjay S Wadhwa, Shashirman Venkatesan, N Ramkumar and Abhay Sharma sold shares worth Rs 86.98 crore.
Purpose of Paytm IPO Issuance
The company is going to use the net proceeds from its new issue to grow and strengthen the Paytm ecosystem, including the acquisition and retention of consumers and merchants and giving them greater access to technology and financial services. The fresh issue funds will also be used for new business initiatives, acquisitions and strategic partnerships and for general corporate purposes. Part of the OFS will go for sale to the shareholders.
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