Paytm IPO subscribed 48% on day 2; Know how much retail, QIBs & NIIs investors bid
Rs 18,300 crore Paytm IPO was subscribed 48% on day 2 of bidding with retail investors showing the highest interest. Know how much others bid.
On day two of bidding on Tuesday, November 9, Paytm's Rs 18,300 crore Initial Public Offering (IPO) was subscribed 48%. The bidding will close on November 10. The portion reserved for retail investors has received bids for 1.98 crore shares (1.23 times) against 87.98 lakh shares reserved.
Qualified Institutional Buyers (QIBs) have bid for 1.2 crore shares against 2.63 crore equity shares reserved for them. Similarly, the Non-Institutional Investors (NIIs) bid for just 5% of the 1.31 crore shares kept aside for them. On the opening day, Paytm IPO was subscribed 18%. 75% of the IPO has been reserved for QIBs, 15% for NIIs and 10% retain investors.
If successful, the record-setting 18,300 crore IPO will be India's biggest after the Rs 15,200 crore offer of Coal India.
Paytm IPO Day 2: All you need to know
- The public issue's total subscription on Day 2 of IPO is 48%
- Retail portion subscribed 1.23 times
- Qualified Institutional Buyers bid for 1.2 crore shares against 2.63 crores reserved
- Non-institutional investors subscribe just 5%
- Paytm IPO price band: Rs 2,080-2,150
- Share allotment will be done on November 15 and refunds will be processed on November 16
- The listing is likely to take place on November 18 on both NSE and BSE.
Other technology IPOs such as Zomato Ltd and Nykaa had received greater demand on their opening days. However, it should be that they were much smaller in comparison with Paytm's share sale.
Experts have mixed feelings about the digital and finance technology startup's IPO. Some call it got beet to ride the country's fintech wave while others point at exorbitant pricing.
What is Paytm?
According to the company, Paytm stands for Pay through mobile and it is the country’s largest mobile payments and commerce platform. The application, available on Google Playstore and Apple App Store, allows one to transfer money instantly. The user can make cashless transactions at various places like petrol pumps, restaurants, grocery shops, coffee shops, multiplexes, taxis and autos and many more. Besides this, one can also do online recharge, book movies, travel tickets on the Paytm app or website.
Image: Shutterstock
Published By : Kamal Joshi
Published On: 9 November 2021 at 20:35 IST