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Updated Nov 07, 2021 | 12:50 IST
Paytm IPO opens for subscription on Monday: 5 things to know
Paytm IPO opens for subscription on Monday: 5 things to know&nbsp | &nbspPhoto Credit:&nbspIANS

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  • Paytm IPO worth Rs 18,300 crore or $2.46 billion will be the biggest share offer in Indian market since Coal India IPO in 2010
  • Jack Ma's Ant Group Co and Masayoshi Son's SoftBank Group Corp will sell their stake through the IPO
  • Paytm is yet to turn profitable
  1. In what will be India's biggest IPO yet, Paytm’s parent company One97 Communications Ltd (OCL)’s Rs 18,300 crore or $2.46 billion issue will open on November 8, Monday. OCL is the holding company that also owns and operates the Paytm Super app and other allied apps such as Paytm Money and Paytm for Business.
  2. The Paytm IPO consists of fresh shares worth Rs 8,300 crore and an offer for sale (OFS) by existing shareholders to the tune of Rs 10,000 crore. Paytm Founder & OCL Managing Director and CEO Vijay Shekhar Sharma will sell shares worth Rs 402.60 crore and Antfin (Netherlands) Holdings will sell shares worth Rs 4,704 crore in the OFS.    
  3. The price band of the issue is fixed between Rs 2,080-Rs 2,150 per share. It will conclude on November 10 and will be the biggest since Coal India's share sale worth Rs 15,200 crore in 2010. The lot size of Paytm IPO consists 6 shares amounting to Rs 12,900 at the higher price band of Rs 2,150. A retail investor can place bids for a maximum of 15 lots or 90 shares amounting to Rs 193,500. The allotment of shares for the Paytm IPO will be finalised by November 15 and the shares will be credited to accounts of successful bidders by November 17.
  4. Ahead of the IPO, the company raised Rs 8,235 crore from anchor investors such as BlackRock, the world’s largest asset manager, Canada Pension Plan Investment Board (CPPIB), Birla MF, GIC, along with other bluechip funds. The anchor round saw oversubscription of up to 10 times. The company aims to utilise IPO proceeds for strengthening the Paytm ecosystem and retaining and adding more customers. "Proceeds from the IPO will be utilized towards growing and strengthening Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services and investing in new business initiatives, acquisitions and strategic partnerships,” according to Paytm’s IPO papers filed with SEBI.
  5. JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank are the booking running lead managers to the issue. Paytm is a digital wallet-based product that offers services like lending, banking, money transfer, insurance, wealth advisory, e-commerce, travel, event booking, gaming, recharge and bill payments. It is to be noted that Paytm is yet to turn profitable.

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