Home / Companies / People /  Paytm CEO Vijay Shekhar Sharma visits Tirupati to seek blessings for mega IPO

As his company heads for a mega market debut, Paytm founder and CEO Vijay Shekhar Sharma visited the Tirupati Temple to seek blessing “for all of Paytm family" on Monday. The leading digital payments and financial services platform kicked off India's biggest-ever initial public offering today to raise nearly 18,300 crore.

Sharma took to Twitter to share a picture from his visit. “Just met Sh. Jawahar Reddy Executive Officer, Tirumala Tirupati Devasthanams (TTD) in Tirupati as I have come here to seek blessing of God for all of @Paytm family," he wrote.

Also Read: Paytm IPO opens today: GMP, other key details. Should you subscribe?

The price band for the Paytm IPO has been kept in the range of ​​ 2,080-2,150, as Paytm targets a 1.48 lakh crore valuation. The company is set to raise 18,300 crore from the markets through a fresh issue of 8,300 crore and an offer for sale (OFS) of 10,000 crore. The offer has started from today, November 8, and will close on November 10. 

Paytm has already raised 8,235 crore from anchor investors, which the company claims is the largest anchor round so far in India with ‘long term investors’ joining the IPO.

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. Blackrock invested 1,045 crore, Canada Pension Plan Investment Board 938 crore and GIC 533 crore.

Also Read: Paytm best bet to ride fintech, but valuations lofty

The round also saw participation from pension funds, superannuation funds as well as sovereign wealth funds like Government of Singapore, CPPIB, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, and University of Cambridge.

The largest dedicated emerging market investors like Standard Life Aberdeen, UBS and RWC have also invested.

Paytm skipped pre-IPO funding round to expedite launch of the initial share sale.

Through the OFS, One97 Communications Managing Director and CEO Vijay Shekhar Sharma will offload shares worth up to 402.65 crore while Antfin (Netherlands) Holdings will sell shares to the tune of 4,704.43 crore.

Also Read: Is Paytm worth what its owners are asking for?

Besides, Alibaba.com Singapore E-Commerce will sell shares worth 784.82 crore, Elevation CapitalV FII Holdings ( 75.02 crore), Elevation Capital V Ltd ( 64.01 crore), Saif III Mauritius ( 1,327.65 crore), Saif Partners ( 563.63 crore), SVF Partners ( 1,689.03 crore) and International Holdings ( 301.77 crore), as per its offer document.

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