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Wednesday, December 01, 2021

IPO Wrap: Paytm IPO subscribed 1.89 times on final day led by QIBs and retail investors

Paytm IPO subscription status: The initial public offering (IPO) of One 97 Communications, the parent entity of digital payments firm Paytm, was subscribed 1.89 times on the final day.

By: Express Web Desk | New Delhi |
Updated: November 10, 2021 6:03:19 pm
Paytm, Paytm IPOA worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. (REUTERS)

Paytm IPO subscription status: The initial public offering (IPO) of One 97 Communications – the parent entity of digital payments firm Paytm, which was launched earlier this week got subscribed 1.89 times on the final day, according to the data available on the BSE.

The issue which was subscribed only 48 per cent by the end of the second day got fully subscribed by afternoon on the final day.

The country’s largest IPO worth a whopping Rs 18,300 crore received bids for over 9.14 crore (9,14,09,844) shares against the total issue size of nearly 4.84 crore (4,83,89,422) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 2.79 times, while those of non institutional investors was subscribed 0.24 times and that of retail individual investors (RIIs) was subscribed 1.66 times, the data showed.

The Paytm IPO comprises a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) worth Rs 10,000 crore by existing shareholders.

The Paytm IPO, which surpassed the 2010 offering of state-run Coal India that raised over Rs 15,000 crore, had opened for subscription on Monday, November 8, 2021, and concluded at 5 pm Wednesday, November 10, 2021.

It had a price band of Rs 2,080-2,150 per share and before heading into the IPO, One97 Communications raised a whopping Rs 8,235 crore (45 per cent of the total issue size) from 122 anchor investors in lieu of 38,302,326 equity shares at Rs 2,150 each.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for One97 Communications is expected to take place on Monday, November 15, 2021, as per the information provided in the red herring prospectus.

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