Paytm's Rs 18,300 Crore IPO Opens For Subscription. Should You Invest?
NDTV
Paytm's IPO consists of an offer for sale of Rs 10,000 crore from its existing investors and fresh issue of Rs 8,300 crore.
Paytm's Rs 18,300 crore initial public offering (IPO), the country's biggest-ever, opened for subscription on Monday, November 8. The company is selling shares in the price band of Rs 2,080-2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots. At the upper price band one lot of Paytm shares will cost Rs 12,900.
Paytm's IPO consists of an offer for sale of Rs 10,000 crore from its existing investors and fresh issue of Rs 8,300 crore. Paytm allocated shares worth rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead of the country's largest stock market listing.
The company will use proceeds from IPO to grow and strengthen Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services, invest in new business initiatives, acquisitions and strategic partnerships and general corporate purposes.
