Paytm IPO: IPO of Paytm may be launched on November 8, the price band of IPO is expected to be Rs 2080 -2150 per share.
Paytm IPO Update: After Diwali, Paytm is bringing its Intial Public Offering (IPO). Paytm's IPO will open on November 8 and investors will be able to apply for IPO by November 10.
Paytm has fixed the price band of its IPO at Rs 2080 -2150 per share. The size of Paytm's IPO is going to be even bigger.
Where the company was first to issue an IPO of Rs 16,600 crore, but now the company will come with an IPO of Rs 18,300 crore. Market regulator SEBI has already approved Paytm to launch an IPO.
Paytm's Biggest IPO:
The market is waiting for the IPO of Paytm for a long time. After Coal India's IPO of Rs 15,200 crore in 2010, it will be the country's biggest IPO ever. Paytm expects a valuation of 20 to 22 billion dollars.
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Paytm has said in its draft prospectus that the company plans to sell an equal number of new and existing shares. It is believed that on November 3, the company will do Anchor Placement.
IPO size to be Rs 18,300 Crore
According to the draft IPO, the company plans to raise Rs 18,300 crore through fresh issue of equity shares and offer for sale.
IPO founder, managing director and chief executive chairman (CEO) Vijay Shekhar Sharma and Alibaba Group companies will also sell some of their stake in the proposed sale offer.
Alibaba Group firm Antfin (Netherlands) may sell 5 per cent stake to Holding to reduce its stake by 25 per cent to meet regulatory requirements. Paytm has the largest number of customers in the merchant-payments market.
It has more than 20 million merchant partners in its network. According to the company, its customers do transactions worth 1.4 billion rupees every month.