New Delhi: The financial services provider Paytm recently concluded its Initial Public Offering (IPO) and their share allotment process has already taken place. The Paytm IPO, organised by the parent company One97 Communications, initially floundered but was subscribed 1.89 times on the final day of its bidding, as per the data from the stock exchange.
However, the Paytm shares experienced a downfall on Tuesday, prior to its listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). This came as bad news for the company which floated India’s biggest public offer of Rs 18,300 crore.
Besides, One97 Communications has acquired bids for 9.14 crore shares against 4.83 crore shared offered for sale. With the support from qualified institutional buyers (QIBs), who have oversubscribed the IPO since the first day, the bids were acquired on a large basis. The QIBs subscribed 2.79 times the portion that was ascribed to them, retail buyers subscribed 1.66 times while non-institutional buyers booked 24% of the shared reserved for them.
Paytm IPO Listing, Refund Dates
Paytm is all ready to be listed on the NSE and BSE. The listing will likely take place on November 18. The refunds for those who will not be selected in the listing will be done to their back accounts on November 16. Besides, the credit to the demat account will take place on November 17. Bidders of the offer can view their Paytm IPO listing on the Link Intime India Limited website or the BSE website.
Paytm IPO GMP Today
The shares of Paytm experienced the lowest premium trading in the grey market on Tuesday. The grey market premium of Paytm was at Rs 30 with shares at Rs 2,180 against the upper price limit of Rs 2,150 per share. This resulted in an increase of 1.4% over the final issue price. According to IPO Watch, the premium has decreased from 2.3% witnessed in last week.
Paytm IPO Offer Details
The offer has a mixture of fresh issue of Rs 8,300 crore and an offer for sale (OFS) of Rs 10,000 crore by selling shareholders including founder and investors.
Founder Vijay Shekhar Sharma sold Rs 402.65 crore worth of shares through OFS. Among investors, Antfin (Netherlands) Holding B.V. offloaded up to Rs 4,704.43 crore worth of shares, Alibaba.com Singapore E-Commerce sold up to Rs 784.82 crore of shares, SVF Panther (Cayman) Rs 1,689.03 crore, and BH International Holdings sold Rs 301.77 crore worth of shares via OFS.
