Paytm's 350 Employees Are Set Become Millionaires: Reports

New Delhi: Though the Initial Public Offering (IPO) of the mobile wallet company Paytm may have got a sluggish start, but the company's 350 employees are set to become millionaires.

According to international news agency, the company's listing is due on November 18, but before that due to the $ 2.5 billion IPO of Paytm, its 350 employees, which include working and retired employees, will have a net worth of Rs 1 crore. In fact, these employees of the company had stake in Paytm as an investor.

According to Reuters news, the company's listing is due on November 18, but before that due to the $ 2.5 billion IPO of Paytm, its 350 employees, which include working and retired employees, will have a net worth of Rs 1 crore. In fact, these employees of the company had staked in Paytm as an investor.

One97 – owned digital payments platform Paytm which opened its Initial Public Offering (IPO) on Monday, has created history as the IPO was oversubscribed 1.89 times on the last day.

The company received bids for a total of 9.14 crore shares against invited bids for 4.83 crore shares. The shares which were set aside for small investors saw 1.66 times subscription in the non-institutional investor category, while on the other hand in the eligible institutional investor category, it saw 2.79 times subscription.

Since, the Paytm IPO is of Rs 18,3000 crore due to which it has become the largest IPO in the history of the country. The price band fixed for this IPO is Rs 2,080 to Rs 2,150 per share.

According to data from exchanges, at the last day, the subscription witnessed the IPO was oversubscribed 2.79 times by QIB, while it got 1.66 times subscription from retail investors.

Notably, before Paytm, it was coal India which had seen the highest subscription on the final day of bidding.

On day 1, the company's IPO had secured the highest retail percentage subscription for IPOs with retail sizes in excess of Rs 1,000 crore over the last decade, which was subsequently oversubscribed early on Day 2.

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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