Paytm IPO crawls to full subscription before close
The Hindu
India’s largest IPO saw tepid demand
Indian fintech firm Paytm’s initial public offering of up to ₹183 billion crawled towards a full subscription in the final hours of its issue period on Wednesday, signalling tepid demand for the country’s largest stock market listing.
As of 0808 GMT, Paytm’s offer of 48.3 million shares had received 55.9 million bids, according to stock exchange data.
Institutional investors bid for 1.88 times the shares reserved for them, while retail investors subscribed for 1.5 times the shares on offer.
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