Paytm IPO Opens Today, Subscribed Nearly To 8 Percent On The First Day

New Delhi: One97 – owned Paytm has opened it s Initial Public Offering (IPO) for subscription on Monday and it will closed on November 10.

Paytm's IPO has been subscribed nearly to 8 percent since its opening. Whereas, shares earmarked for retail investors has been over-subscribed by 42 per cent, so far.

The company plans to raise Rs 18,300 crore through IPO.

The price band for the IPO's has been kept at Rs 2080 to Rs 2150 per share. The existing investors will sell shares worth Rs 10,000 crore, while fresh shares worth Rs 8,300 crore will be issued.

Alongwith, Japan's SoftBank, Alibaba, Elevation Capital, Paytm founder Vijay Shekhar Sharma and Japan's SoftBank. Sharma will use the funds to complete the financial deal with QBE Raheja.

6 shares at a time is the minimum bid size. After this, bidding can be done in shares of 6 multiples. That is, retail investors will have to invest at least Rs 12,900 for a single lot.

At a time, one can bid for a maximum of 15 lots. 75 per cent of the issue is for qualified institutional buyers, 10 per cent for retail investors and 15 per cent for NIIs.

The premium of Paytm IPO in gray market is Rs 150 and it is expected that this stock will be listed above Rs 2300.

The company raised Rs 8,235 crore from anchor investors, ahead of the IPO. In this round, 122 domestic and foreign funds bid for the shares of Paytm.

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