Thursday, November 4, 2021

Paytm IPO | Know GMP signals ahead of subscription opening


Paytm IPO: The digital payments and financial services firm on Wednesday raised ₹8,235 crore from anchor investors ahead of its initial share sale

Digital payments and financial services firm Paytm on Wednesday raised ₹8,235 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 ₹18,300 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 ₹18,300 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 ₹15,200 crore.

Paytm shares in grey market have surged from yesterday and are commanding a premium (GMP) of ₹140 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 ₹2,080 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.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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