Paytm likely to allocate shares at 2,150 apiece
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said.
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New Delhi: Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said.
Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same. "Paytm share allocation is likely to take place on Tuesday after approval of SEBI. The approval from SEBI is expected to come on Monday," one of the sources said. Based on the bid received for Paytm's Rs 18,300 crore initial public offer (IPO), the company will list an enterprise valuation of Rs 1,49,428 crore or slightly over $20 billion at an exchange rate of 74.35.
The country's biggest IPO was subscribed 1.89 times with institutional buyers including FIIs flooding the share sale with offers seeking 2.79 times the number of shares reserved for them. The company saw participation from blue chip investors like Blackrock, Canada Pension Plan Investment Board, GIC, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, University of Cambridge etc. Retail investors lapped up for 1.66 times the 87 lakh shares reserved for them.
