Tech

Paytm Shares Priced at Rs. 2,150, at Top of Range, in Rs. 18,300-Crore IPO

India’s Paytm has priced its shares at Rs. 2,150 every, the highest of its worth vary, in its Rs. 18,300 crore preliminary public providing (IPO), a prospectus confirmed on Friday.

Paytm, a funds firm that markets an all-in-one app, had flagged a worth vary of Rs. 2,080-2,150 per share for the deal.

The IPO is the most important ever in India and the success of the deal is seen as a precursor for extra large ticket public floats to return within the subsequent 12 months.

The corporate, formally often known as One97 Communications, which had already raised $1.1 billion (roughly Rs. 8,191 crore) from anchor traders, has obtained $2.64 billion (roughly Rs. 19,658 crore) value of bids for the remaining 48.4 million shares on supply, or 1.89 occasions, in response to inventory change knowledge printed on Wednesday.

Marquee traders are trimming their stakes through the IPO. Ant Group, which had a 28 % holding in Paytm, is promoting shares value Rs. 4,704 crore and will probably be left with a 23 % stake.

SoftBank’s Imaginative and prescient Fund is chopping its stake by 2.5 proportion factors to 16 % with a Rs. 1,689 crore share sale.

© Thomson Reuters 2021

Disclosure: Paytm’s mother or father firm One97 is an investor in NDTV’s Devices 360.


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