Paytm IPO: Second day of biggest IPO, except retail investors, investors have not shown much interest yet
Paytm IPO Price: The second day of bidding for Paytm’s IPO.
Biggest ever IPO (Initial Public Offering) – Paytm 18,300 crore IPO Which has been launched from Monday. The IPO bidding began on the second day on Tuesday. The first day of the IPO was quite sluggish. It was subscribed 18 percent on the first day. According to the data given on the National Stock Exchange, the company got 88,23,924 bids on the first day on 4,83,89,422 shares offered. A total of 56,19,810 bids were received at the cut-off price.
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Retail investors showed more interest on the first day. Shares held by retail investors were subscribed 48 per cent. Qualified institutional buyers, which includes investors such as foreign investors, financial institutions and banks, subscribed 6 per cent to shares in this category. However, non-institutional investors did not subscribe even a single per cent share.
Let us tell you that the IPO of One97 Communications, a digital company working under the Paytm brand, opened for application on November 8. For this, the price band per share has been fixed at Rs 2,080-2,150. This means that the valuation of the company will be between Rs 1.44 lakh crore and Rs 1.48 lakh crore. Applications for IPO can be given till November 10.
The fintech company plans to raise Rs 18,300 crore through IPO. Under this, Rs 8,300 crore will be raised from new shares and Rs 10,000 crore through offer of sale (OFS).
The OFS includes shares up to Rs 402.65 crore by Paytm CEO Vijay Shekhar Sharma, up to Rs 4,704.43 crore by Antfin (Netherlands) Holdings, up to Rs 784.82 crore by Alibaba.com Singapore E-commerce and up to Rs 75.02 crore by Elevation Capital v FII Holdings. sales are included.
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