Paytm IPO; Subscription To Open On November 8, Check Other Details

One97 Communications, the parent company of digital payments business Paytm, will launch its Rs 18,300 crore initial public offering (IPO) on Monday, November 8, 2021, and subscriptions will be accepted until Wednesday, November 10, 2021.

The IPO’s price band has been set at Rs 2,080-2,150 per share with a face value of Rs 1. Sebi, the markets regulator, gave the corporation the green light last week.

The deal intends to generate Rs 18,300 crore for the digital payments giant. The company has boosted the size of its IPO from Rs 16,600 crore to Rs 1,700 crore, with the rise completely due to existing owners selling more shares.

Vijay Shekhar Sharma sold up to Rs 402.65 crore, Antfin (Netherlands) Holdings sold up to Rs 4,704.43 crore, Alibaba.com Singapore E-Commerce sold up to Rs 784.82 crore, and Elevation CapitalV FII Holdings sold up to Rs 75.02 crore in the OFS.

According to the IPO paperwork, Elevation Capital V Ltd would offer up to Rs 64.01 crore, Saif III Mauritius will provide up to Rs 1,327.65 crore, Saif Partners will offer up to Rs 563.63 crore, SVF Partners will offer up to Rs 1,689.03 crore, and International Holdings will offer up to Rs 301.77 crore.

The book running lead managers for the IPO are Morgan Stanley India Company, Goldman Sachs (India) Securities, Axis Capital, ICICI Securities, J.P. Morgan India, Citigroup Global Markets India, and HDFC Bank. The issue’s registrar is Link Intime India.

One97 stated in its Draft Red Herring Prospectus (DRHP) that the cash raised will be used to expand the Paytm ecosystem by attracting and keeping consumers and merchants. Consumers and merchants have been attracted through marketing, cashback, and incentives, according to the company, which also provides merchants with technology through its consumer and business app, payment platforms, and payment instruments.

IPO Open Date: Nov 8, 2021
IPO Close Date: Nov 10, 2021
Basis of Allotment Date: Nov 15, 2021
Initiation of Refunds: Nov 16, 2021
Credit of Shares to Demat Account: Nov 17, 2021
IPO Listing Date: Nov 18, 2021