Paytm IPO: 34 percent received so far on the second day forthe Rs 18,000 crore IPO application
- ByStartupStory | November 9, 2021
Paytm IPO Company has set the price of shares under IPO at Rs 2080 2150. The marked price of each is Rs.Investors can bid for a minimum of 6 shares and in multiples thereof.
New Delhi, Business Desk| One97 CommunicationsThe mega IPO of Tuesday’s stake sale had got 34 percent subscription till the writing of the news on the second day.This issue is open until Wednesday 10 November. Monday was the first day of Paytm’s Rs 18,000 crore IPO and till date applications were received for only 18 per cent of the shares. On The other hand, investors showed more enthusiasm towards companies like Nykaa and Zomato as compared to Paytm. Market Experts are concerned about the lack of interest among institutional investors for the biggest IPO in the history of the country’s stock market.
According to National Stock Exchange (NSE) data, investors bid for 70,35,372 equity shares (0.34 per cent)till 11.45 am, while the total issue size was4,83,89,422 equity shares. The portion reserved for retail investors got 99 percent subscription, while the quota for institutional buyers received 29 percent bids. BSE data shows that the quota of non-institutional investors was subscribed by 2 per cent so far. It is known that One97 Communication has become a household name in the form of Paytm. This is on the occasion of the fifth anniversary of demonetisation.IPO has come in the market.
The company has fixed the price of shares under theIPO at Rs 2,080-2,150. The marked price of each is Rs. Investors can bid for a minimum of 6 shares and its properties. Ithas been told by the company that the announcement of share allotment will be done on November 15 and it is expected to be listed on the stock exchange on November 18. The company has fixed the price of the shares,estimating its value at $ 20 billion, or about 1.5lakh crore rupees. The IPO will raise fresh equity of Rs8,300 crore, while existing shareholders are selling shares worth Rs 10,000 through the offer for sale route.
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