Paytm’s Rs 18,300 crore IPO fully subscribed

The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 5.24 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges.

By: PTI

New Delhi | Updated: November 10, 2021 02:43 PM IST

1 min read

Paytm had reported a 10% drop in revenue during the year ended March 2021, after intensifying competition from Walmart Inc.’s Flipkart and Amazon.com Inc. cut its e-commerce and cloud sales by the same amount. (Image source: Bloomberg)

Paytm’s Rs 18,300-crore IPO was on Wednesday fully subscribed with FIIs flooding the issue with offers.

The initial public offering of Paytm’s parent company One97 Communications Ltd received bids for 5.24 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges.

Qualified institutional buyers (QIBs), who were less than enthusiastic in participating in the IPO in the initial two days, flooded the issue, seeking 1.59 times the shares reserved for them.

Foreign institutional investors (FIIs) sought 4.17 crore shares as against 2.63 crore shares reserved for QIBs. Retail investors lapped up for 1.46 times the 87 lakh shares reserved for them.

QIBs had the largest number of shares reserved for them at 2.63 crore. Against this, bids were received for 4.18 crore at 1326 hours on Wednesday, according to stock exchange information.

The portion set aside for retail investors has been subscribed 1.46 times with 1.28 crore shares being sought against a reservation of 87.98 lakh. Retail investors had the smallest portion reserved for them.

Non-institutional investors bid for just 8 per cent of the 1.31 crore shares reserved for them.

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