Paytm IPO likely to open on Nov 8; Check latest price band and subscription status

The initial public offering (IPO) of Paytm will open on November 8 with an issue size of Rs 18,300 crore. Earlier, Paytm's IPO was known as One97 Communications which now will consist of a new issue of Rs 8,300 crore and a sale offer of Rs 10,000 crore by founder Vijay Shekhar Sharma and others. The price band for the public issue has been set at Rs 2,080-2,150 per equity share.

The shares will be listed on BSE and NSE most likely on November 10, 2021. 

Paytm IPO details

Paytm IPO will become the largest primary market issue surpassing that of Coal India, in the history of India Inc. More than a decade ago, coal India had raised ₹ 15,000 crores. Paytm revised the amount to ₹ 18,300 crores in wake of heightened investor interest, which earlier planned to raise Rs 16,600 crores. They will offload their stake in Paytm through the primary market offering besides Vijay Shekhar Sharma, Ant Financials, Alibaba, and SAIF III Mauritius Company. 

The primary proceeds for customer and merchant acquisition will be utilized by the Nodia-based comapny to invest in new business initiatives and strategic partnerships, and for general corporate purposes. 

One97 Communications is the parent company of Paytm that was founded in the year 2000 by Vijay Shekhar Sharma. One97 Communications evolved to become an online mobile payments company which started began its journey as a value-added service provider. China's Alibaba and Ant Group, Japan's SoftBank, and Warren Buffett-owned Berkshire Hathaway, among others, have backed Paytm. 

Ant Financial, which owns 29.6 per cent of Paytm and is its largest shareholder, accounts for nearly half the offer of sale component in the Paytm IPO. 

The booking running managers for the Paytm IPO are JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi, and HDFC Bank.

About Paytm

India’s leading digital payments. Paytm is a financial services platform for consumers and merchants that has served over 33.3 core customers and 21 million merchants as of March 31, 2021. Paytm IPO will close on the heels of IPOs of new-age businesses like Nykaa and Policybazaar, which are geared to enter the capital market on October 28 and November 1, respectively.

Image: twitter/@paytm