The share allotment for initial public offer (IPO) of Paytm has been finalised. The IPO of Noida-based firm was subscribed nearly two times on November 10. India's largest IPO opened on November 8. The shares of Vijay Shekhar Sharma-led firm will list on BSE and NSE on November 18.
The Paytm shares were trading at a grey market premium (GMP) of 1.4 percent over the issue price of Rs 2,150 per share, according to IPO Watch and IPO Central. The premium has fallen from 2.3 percent last week.
According to the GMP, the Paytm stock is likely to be listed at Rs 2,180 on BSE and NSE.
The digital payment firm has collected Rs 18,300 crore through the IPO. The issue size of the share sale was revised from Rs 16,600 crore.
The Paytm IPO has surpassed Coal India (Rs 15,475-crore IPO) and Reliance Power (Rs 11,700 crore IPO) in terms of issue size. The IPO comprises a fresh issue of equity shares of the face value of Rs 1 each, aggregating to Rs 8,300 crore and the offer for sale by the existing shareholders, aggregating to Rs 10,000 crore.
India's biggest IPO was subscribed 1.89 times on final day. The issue received bids for 9.13 crore equity shares against offer size of 4.83 crore shares.
Watch video: Unraveling the sluggish performance of Paytm IPO
The portion allocated for retail investors was subscribed 1.66 times, while the reserved portion of non-institutional investors was subscribed 24 percent. Qualified institutional buyers submitted bids 2.79 times the portion allocated for them.
Lot size of the IPO was a minimum of six shares for which one would have to spend Rs 12,900. A maximum of 15 lots comprising 90 shares could be applied for by spending Rs 1,93,500.
The firm will use the proceeds of share sale to strengthen its payment ecosystem and for new business initiatives and acquisitions.
JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank were the booking running lead managers to the issue. On October 22, Paytm had received market regulator Sebi's nod for the share sale.
There are two routes through which one can check the allotment status. Investors can visit the Bombay Stock Exchange (BSE) website or the IPO registrar's website.
Stock exchange website
Step 1: Visit the official BSE website.
Step 2: On the BSE homepage, click on 'Equity'. A dropdown menu will appear. Select 'One97 Communications Ltd'.
Step 3: Enter your application and PAN number.
Step 4: After entering the details, click on 'Search'.
After clicking on the 'Search' button, details of the number of shares subscribed and the number of shares allotted to you will be displayed.
Visit the registrar's website Link Intime India to check your application status. Choose 'Select company' and click on 'One97 Communications Ltd'.
Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID. Enter the captcha and click 'submit'.
Once you press 'submit', the status of application will appear on the screen.
Paytm's parent One97 Communications offers consumers and merchants technology-led, easy-to-use digital products and services as well as easy and inclusive access to financial services.
As of June 30, 2021, the company offers payment services, commerce and cloud services, and financial services to 33.7 crore consumers and over 2.2 crore merchants.
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