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.
The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 2.34 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges.
The initial public offering of Paytm's parent company, One97 Communications Ltd received bids for 88.23 lakh equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges.
Paytm IPO is available in the price band of Rs 2,080 - Rs 2,150 per share. Paytm IPO is the biggest in the country's corporate history, breaking a record held by Coal India.
Paytm plans to raise Rs 18,300 crore from the IPO which comprises Rs 8,300 crore from issuance of fresh equity and Rs 10,000 crore from offer for sale (OFS).
According to the documents, Paytm's merchant base grew to 2.11 crore as of March 31, 2021, from 1.12 crore in March 2019.
RBI said the company had reported instances of breach of the ceiling of 30 remittances per beneficiary during 2019 and 2020 and filed an application for compounding of the violation.
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Paytm wants to hit the market with its Rs 16,600 crore IPO at the earliest and very likely by October, sources said on Monday.
Paytm, Zomato, Steam, other popular applications suffered a massive outage. Now apps are working fine.
Akamai acknowledged that it was experiencing a service disruption. "We are actively investigating the issue and will provide an update in 30 minutes," it said.
Paytm IPO will be the largest since the 2010 issue by state-owned Coal India. It will raise Rs 16,600 crore from the offer.
Paytm has filed a draft red herring prospectus for its proposed Rs 16,600 crore IPO.
Zomato got bids for 344.76 crore shares against 71.92 crore shares on offer, stock exchange data showed.
Digital payments and financial services firm Paytm on Monday received approval of shareholders for the country's biggest public offer of Rs 16,600 crore, according to a source aware of the EGM outcome.
Zomato is the first IPO on Paytm Money launched with this feature, and thousands of applicants on the platform have already placed their orders.
Paytm Money has designed the Pre-IPO Open application feature to target young investors. It will give a push to the participation of retail investors.
Alipay representative Jing Xiandong, Ant Financial’s Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (U.S. citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document.
Paytm is expected to seek shareholders' approval to raise up to Rs 16,600 crore through an initial share sale.
Digital payments firm Paytm is expected to seek shareholders' approval to raise up to Rs 16,600 crore through an initial share sale, giving it a valuation of over Rs 1.78 lakh crore, according to a source.
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