Paytm Signs Up Over 100 Institutional Investors For IPO
NDTV
Ant Group-backed fintech firm Paytm said it has allocated shares worth Rs 8,235 crore ($1.11 billion) to more than 100 institutional investors, including the government of Singapore, ahead of what is expected to be India's largest stock market listing.
Bengaluru: Ant Group-backed fintech firm Paytm said it has allocated shares worth Rs 8,235 crore ($1.11 billion) to more than 100 institutional investors, including the government of Singapore, ahead of what is expected to be India's largest stock market listing.
Paytm's offer of up to Rs 18,300 crore, which was increased last month from Rs 16,600 crore, garnered interest from 122 institutional investors who bought more than 38.3 million shares for Rs 2,150 apiece, according to a regulatory document dated November 3.
BlackRock Global Funds, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority were among the investors.
Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. Its use swelled further in 2016 when a ban on high-value currency bank notes in India boosted digital payments.
