Paytm IPO: Issue subscribed 18% on day 1; here are other details you need to know

One97 Communications, which runs under the brand name of Paytm, was subscribed 18% on the first day of bidding on Monday, November 8. The retail portion has been booked 78% on the first day of bidding. The Initial Public Offering (IPO) will be open for subscription till Wednesday, November 10.

The Rs 18,300-crore public issue will be India's biggest IPO, if successful, after Coal India's Rs 15,200 crore offering. The IPO consists of fresh equity shares worth Rs 8,300 crore and an OFS of around Rs 10,000 crore. The price band of the offer has been fixed at Rs 2,080-2,150 per share.

Paytm IPO Day 1: All you need to know

• Paytm IPO total subscription on Day of subscription is 18%
• The IPO received bids for 88.23 lakh shares against issue size of 4.83 crore shares
• Retail portion subscribed 78%
• Non-institutional investors subscribe 2%
• Qualified institutional buyers bid for 16.78 lakh shares (6%)
• Paytm IPO lot size: A retail investor can bid for a minimum of a single lot (Rs 12,900) and a maximum of 15 lots.
• The allotment of shares will be done n November 15
• The refunds will be initiated on November 16
• Paytm IPO is likely to shift on bourses- BSE and NSE- on November 18.

Under the OFS, Vijay Shekhar Sharma, who is MD and CEO of Paytm, will offload equity shares up to Rs 402.65 crore and existing shareholder Antfin (Netherlands) will vend shares up to Rs 4,704.43 crore.

Paytm has said that the generated money will be utilised for corporate activities such as the "acquisition of customers and merchants and providing them with greater access to technology and financial services."

The record-setting issue has received a mixed response from analysts, which some terming it a good bet and other pointing at expensive pricing. At the upper end of its price band, the digital payments and financial services firm is valued 49.7 times FY21 revenues.

Founded in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants. Paytm offers a wide range of services to users such as payment and financial services. It has more than 20 million merchants across the country who use their QR code payment system to accept payments in their accounts directly.

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