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Business News/ Markets / Ipo/  Paytm IPO opens for subscription next week: Price band, other key details you need to know
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Paytm IPO opens for subscription next week: Price band, other key details you need to know

Paytm IPO to be the biggest in the country after Coal India's issue back in 2010 wherein the state-owned had garnered ₹15,200 crore

Paytm app is seen on a smartphone in this illustration taken (REUTERS)Premium
Paytm app is seen on a smartphone in this illustration taken (REUTERS)

Paytm's parent One97 Communications will come out with its initial public offering (IPO) next week on Monday, November 8 with the price band fixed at 2,080-2,150 per share, implying a valuation of around 1.48 lakh crore. The three-day share sale will conclude on November 10.

The IPO comprises issuance of fresh equity shares worth 8,300 crore and Offer for Sale (OFS) by existing shareholders to the tune of 10,000 crore. The 18,300 crore-offer will be the biggest in the country after Coal India's issue back in 2010 wherein the state-owned had garnered 15,200 crore. The company skipped pre-IPO funding round to expedite launch of the initial share sale.

The company plans to use proceeds of the fresh issue to grow its business lines and acquire new merchants and customers. Paytm, led by founder and chief executive Vijay Shekhar Sharma, has expanded beyond digital payments into newer categories of lending, gaming, wealth management, financial services, and digital commerce.

Almost 75% of the issue worth 13,725 crore is reserved for qualified institutional buyers (QIBs), with 10% of the issue worth 1,830 crore reserved for retail buyers, the BSE filing showed.

In the first quarter of FY22, the company's payments and financial services revenue alone stood at 689.4 crore contributing to 77 per cent of its total revenue. The company incurred a loss of 2.9 crore in the quarter ended June 2021.

 

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Published: 01 Nov 2021, 12:36 PM IST
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