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Paytm's IPO, The Country's Biggest-Ever, Subscribed 18% On First Day

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Paytm's IPO was subscribed 18 percent on very first day of its biddingPaytm's Rs 18,300 crore preliminary public offer (IPO), the country's most significant ever, was subscribed 18 percent on November 8, 2021, the very first day of bidding.

It got bids for 88.21 lakh equity shares versus offer size of 4.83 crore shares.The part reserved for retail financiers was subscribed 78 percent, while the reserved part of non-institutional investors (NIIs) was subscribed 2 per cent, and certified institutional purchasers (QIBs) have actually put in bids for 16.78 lakh shares against 2.63 crore shares set aside for them.Earlier, Paytm's share sale via IPO opened for subscription today.

The last day for its subscription is November 10, 2021.

One97 Communications, Paytm's moms and dad company, prepares to offer shares in the price band of Rs 2,080 to Rs 2,150 per share and retail financiers can bid for a minimum of one lot of six shares approximately a maximum of 15 lots.At the upper rate band, one great deal of Paytm shares will cost Rs 12,900.

Paytm's IPO consists of an offer for sale of Rs10,000 crore from its existing financiers and fresh problem of Rs 8,300 crore.The business plans to utilize funds generated from the IPO to grow and enhance Paytm community, consisting of through acquisition and retention of consumers and merchants and offering them with higher access to technology and monetary services.It likewise plans to invest in new organization efforts, acquisitions and strategic partnerships.




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