Highlight
- Paytm shares will start trading on NSE and BSE from November 18
- Paytm allots shares at upper price band of Rs 2,150 in IPO
- Paytm’s Rs 18,300 crore IPO was oversubscribed 1.89 times. It is being said to be India’s biggest share sale.
Paytm IPO Allotment Status is out. Investors can check the status of their Paytm share allotment by entering PAN number or Application number or DP/Client ID or Account number/IFSC on the website of IPO registrar LinkIntime.
The digital payments and financial services firm allotted shares at an upper price band of Rs 2,150. Paytm shares are likely to be listed on NSE and BSE on November 18.
Paytm shares are trading at the lowest premium in the gray market since the issue opened for subscription. The share of Paytm is trading at Rs 30-40 per share, reducing the gray market premium of 2 per cent. This means that Paytm shares are available at a price of Rs 2,180 in the gray market.
Based on the bids received for Paytm’s Rs 18,300 crore initial public offer (IPO), the company will list an enterprise valuation of Rs 1,49,428 crore or a little over USD 20 billion at an exchange rate of 74.35.
The country’s biggest IPO was subscribed 1.89 times, with institutional buyers including FIIs flooding the sale of shares, demanding 2.79 times the number of shares reserved for them. The company saw participation from blue chip investors like BlackRock, Canada Pension Plan Investment Board, GIC, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension from Singapore, University of Cambridge etc.
Retail investors enjoyed 1.66 times of the 87 lakh shares reserved for them. According to experts, Paytm will be one of the most valuable companies in India on listing. Its large issue size meant that the actual value of its retail size was much larger than that of recent internet IPOs like Zomato or Nykaa.
Some of the biggest IPOs in the past like Coal India saw the highest number of subscriptions on the last day of bidding. Coal India was closed 15.28 times on the last day. The same trend was observed in the recent past as well, with much smaller IPOs such as Nykaa and Policybazaar, where QIB bids exceed 90 per cent, and overall bids also came on the third day.
Paytm’s IPO includes a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of shares up to Rs 10,000 crore. The OFS, or secondary share sale, consisted of the sale of shares worth up to Rs 402.65 crore by founder Vijay Shekhar Sharma. The company set aside 75 per cent for QIBs, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Established in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants. It provides users with a wide range of services – payment services and financial services.
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