New Delhi: Paytm is all set to open its initial public offer (IPO) for subscription today, November 8, 2021. The digital payments company’s IPO will conclude on November 10, 2021, at Rs 18,300 crore. Retail investors can invest a minimum of Rs 12,480 for a single lot, and their maximum investment would be Rs 1,93,500 for 15 lots, promoted by One97 Communications, the parent company of Paytm.
Paytm IPO is going to be the largest-ever IPO in the history of Indian capital markets. Earlier, the state-run coal mining company Coal India has the biggest IPO of more than Rs 15,200 crore in 2010.
Ahead of Paytm’s IPO, here we have brought you some key points that you should know before subscribing.
The initial public offer (IPO) will open on November 8 and will conclude on November 10.
The offer has been fixed at Rs 2,080 to Rs 2,150 per equity share. The allotment will be finalised by November 15, 2021, and listed by November 18, 2021.
Size of Issue
IPO comprises shares worth Rs 8,300 crore and Rs 10,000 crore from OFS by existing shareholders.
Paytm’s founder and managing director, Vijay Shekhar Sharma, will sell $53.94 million (Rs 402.65 crore) worth of shares through OFS. The top investor Ant Financial is likely to sell its 27.9 per cent stake in digital payments company worth $ 643 million.
The digital payment company was launched by One97 Communications a decade ago as a platform for mobile recharging. The company grew after the 2016 demonetisation in India and became a ‘mobile-first’ digital payments platform to enable cashless payments in the nation. Since then, the company has branched out its services including, movie tickets, flight tickets, insurance, bank deposits, gold sales and remittances.
As per RedSeer, Paytm is the largest payments platform in India based on the number of transactions, consumers, merchants and revenue as of March 2021.