Paytm’s Rs 18,300-crore IPO got fully subscribed on Wednesday and FIIs flooded the issue with offers. As per information available from stock exchanges, the initial public offering of Paytm’s parent company One97 Communications Limited received bids for 5.24 crore equity shares against an offer size of 4.83 crore shares.
Qualified Institutional Buyers (QIBs), who were less than excited to participate in the IPO in the initial two days, dashed the issue, asking for 1.59 times of the shares reserved for them.
Foreign institutional investors (FIIs) called for 4.17 crore shares against 2.63 crore shares reserved for QIBs. Retail investors enjoyed 1.46 times of the 87 lakh shares reserved for them.
The largest number of shares were reserved with the QIB at 2.63 crore. Against this, according to the information of the stock exchange, on Wednesday, at 13.26 pm, bids of 4.18 crore were received.
The share earmarked for retail investors has been subscribed 1.46 times, in which 1.28 crore shares have been sought against the reservation of 87.98 lakh. Retail investors had the smallest share reserved for them.
Non-institutional investors bid for only 8 per cent of the 1.31 crore shares reserved for them.
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