Paytm Public offer  lists 9-pc below the issue price
Paytm Public offer lists 9-pc below the issue price
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One97 Communications, the parent company of the digital payments behemoth Paytm, had its stock market debut today. On the BSE, Paytm shares began trading at Rs 1,955, or 9 percent less than the issue price of Rs 2,150. Paytm shares were launched on the NSE for Rs 1950.

The Paytm IPO, the country's largest in corporate history, priced its shares in a range of Rs 2,080-2,150 a share, valuing the business at Rs 1.39 lakh crore at the top end of the range. Paytm's IPO became the largest fintech IPO in the Asia Pacific region, with a share sale of Rs 18,300 crore. It shattered the previous record of Rs 15,000 crore set by Coal India Limited.

Paytm's IPO was also the world's second-largest fintech IPO in 2021, behind Allfunds' IPO in Spain. Paytm will be the fourth largest fintech stock to go public in the world.

Blackrock, Canada Pension Plan Investment Board, GIC, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, University of Cambridge, and others all participated in Paytm. The 87 lakh shares earmarked for retail investors were snapped up in 1.66 seconds.

Paytm's initial public offering (IPO) included a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of up to Rs 10,000 crore. Vijay Shekhar Sharma, the company's creator, sold shares worth up to Rs 402.65 crore in the OFS, or secondary share sale. While QIBs received 75 percent of the offer, non-institutional investors received 15 percent, and individual investors received 10 percent.

 

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