04 Nov , 2021 By : Kanchan Joshi
Digital payments and financial services firm Paytm on Wednesday raised Rs8,235 crore from anchor investors ahead of its initial share sale. The anchor investor round saw participation from Blackrock, CPPIB, Birla MF, GIC and other blue-chip funds leading to 10 times oversubscription of the shares, as per a stock exchange filing.
With this, Paytm has already secured 45 per cent of its Rs18,300 crore initial public offer (IPO). The company is selling nearly half of its 18,300 crore IPO to the anchor investors. The anchor book is India’s largest ever so far, in keeping with Paytm’s status as the country’s biggest public market debut so far.
The Rs18,300 crore-offer, if successful, will be the biggest in the country after Coal India's IPO back in 2010 wherein the state-owned company had garnered Rs15,200 crore.
Paytm shares in grey market have surged from yesterday and are commanding a premium (GMP) of Rs140 today. The grey market is an unofficial platform, wherein trading starts after the announcement of IPO price band till the listing of shares.
Paytm’s IPO will be priced in the range of Rs2,080 to 2,150 a share. Large investors such as Jack Ma’s Ant Group Co and Masayoshi Son’s SoftBank Group Corp are selling shares. The three-day initial public offering opens next week, running from November 8 to November 10, and the shares are expected to list in mid November.
Through the offer for sale (OFS), One97 Communications Managing Director and CEO Vijay Shekhar Sharma will offload shares worth up to Rs402.6 crore while Antfin (Netherlands) Holdings will sell shares to the tune of Rs4,704 crore.
The roaring pace of the India's stock market indices this year have spurred multiple technology unicorns to list on the stock exchanges, offering investors a chance to partake in high-profile technology startup names from food delivery startup Zomato, which made its stock market debut in July to Nykaa, which is scheduled to list next week.
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