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Mumbai: Paytm’s initial public offering (IPO) is to be opened on November 8, 2021. Earlier, the IPO was named One97 Communications which was issued for ₹8300 crores by Vijay Shekhar Sharma & others. The company occupies a fixed price band of ₹ 2080-2150. The marketing offer will be closed by November 10 and the shares will be listed on NSE and BSE.
In the entire history of India, Paytm IPO becomes the largest primary market issue that has surpassed Coal India. Coal India raised ₹ 15,000 crores a decade ago. However, Paytm manages to raise ₹ 16,600 crores that later got revised to ₹ 18,300 because of the investor’s interest.
Besides Paytm’s founder Vijay Shekhar Sharma, Alibaba, SAIF III Mauritius Company, and Ant Financials offloaded their stake via primary market offering. Paytm will utilize primary proceeds for merchant acquisition and customers so as to invest in other businesses as well as general corporate purposes.
About One97 Communications
One97 Communications is a parent company owned by Paytm. It was founded in 2000 by Vijay Shekhar Sharma. The journey of One97 Communications started as value-based services and gradually evolved as an online mobile payment company. It is backed by Warren-Buffets Berkshire Hathaway, Japan’s SoftBank, and China’s Alibaba & Ant Group.
Some companies that can be booked as running managers for Paytm IPO include Axis Capital, JPMorgan Chase, Morgan Stanley, Goldman Sachs, ICIC Securities, Citi & HDFC Bank.
Paytm Competitive Strengths
- Paytm is India’s leading digital payment solution provider
- Powerful brand identity with a business value of US$6.3 billion
- The massive customer base of 333 million customers with 114 million annual transacting users & 21 million registered merchants
- Paytm offer a super-app that can be accessed widely for digital payment services using mobile phones
Paytm IPO Details
IPO Opening date: Nov 8, 2021
IPO Closing date: Nov 10, 2021
Basis of Allotment Date: Nov 15, 2021
Initiation of Refunds: Nov 16, 2021
Credit of Shares to Demat Account: Nov17, 2021
IPO Listing Date: Nov 18, 2021
Issue Type: Book Built Issue IPO
Face Value: ₹1 per equity share
IPO Price: ₹2080 to ₹2150 per equity share
Market Lot: 6 shares
Min Order Quantity: 6 shares
Listing At: NSE, BSE
Issue Size: Eq share of ₹1 (aggregating to ₹18,300.00 Cr)
Fresh Issue: Eq share of ₹1 (aggregating to ₹18,300.00 Cr)
Offer for Sale: Eq share of ₹1 (aggregating to ₹10,000.00 Cr)
Paytm IPO Lot Size
Individual investor can apply for 90 shares worth ₹193500 (15 lots)
Paytm has expanded beyond the era of digital payments and is now all set with Paytm IPO.