![]() ![]() ![]() Paytm has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances. Its use swelled further in 2016 when a ban on high-value currency bank notes boosted digital payments. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. Paytm IPO: The Rs 18,300 crore-offer, if successful, will be the biggest in the country after Coal Indias IPO back in 2010 wherein the state-owned company had. read moreĪnt Group, with a roughly 30% stake, is Paytm's largest shareholder. Several first-generation homegrown startups in India are preparing to go public on domestic bourses, following on the heels of food delivery firm Zomato (ZOMT.NS) which made a stellar stock market debut in July and which also counts China's Ant Group as a shareholder. A source told Reuters in July that Paytm was likely to break even in 18 months. The company, whose backers include Ant Group, SoftBank's (9984.T) Vision Fund and Berkshire Hathaway (BRKa.N), narrowed its operating loss to 16.55 billion rupees ($221.00 million) in the financial year that ended in March 2021, from 24.68 billion a year earlier. Paytm was planning its initial public offering for around the end of October, Reuters previously reported. It has 337 million registered consumers.NEW DELHI, Oct 22 (Reuters) - Indian fintech firm Paytm has received approval from the capital markets regulator for its $2.2 billion stock market listing that is likely to be India's biggest ever IPO, a source familiar with the matter told Reuters on Friday. Paytm handles the equivalent of nearly $80 billion of payments annually to 22 million merchants. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly especially after the 2016 demonetisation in India. Apart from that, Paytm's managing director and CEO Vijay Shekhar Sharma will also offload shares worth up to $53.94 million ( ₹402.65 crore). The company's offering will open on Monday and top investor Ant Financial plans to sell its 27.9% stake in Paytm worth $643 million. Who will be diluting their shares in Paytm? Paytm share price: Recently Bank of America Securities upgraded the stock to a 'buy' and raised its target price from 780 to 885. It has signed up BlackRock, CPPIB together with the sovereign wealth funds of Singapore and Abu Dhabi as anchor investors. On Wednesday, Paytm, whose name is shorthand for "pay through mobile", raised ₹8,235 crore from anchor investors. ![]() The offer will be the biggest in the country after Coal India's IPO in 2010, wherein the state-owned company had garnered ₹15,200 crore. The IPO comprises fresh issuance of equity shares worth ₹8,300 crore and ₹10,000 crore from an offer for sale (OFS) by existing shareholders. The allotment will be finalised by November 15 and listing is expected on November 18. ![]() The IPO will be available in the price band of ₹2,080- ₹2,150. The minimum investment will be ₹12,480 to get a single lot of the offer, promoted by One97 Communication, the parent company of Paytm. Those interested in bidding will have to do so in the lot of six and its multiples. The Paytm IPO will open for subscription on Monday. At $2.46 billion ( ₹18,300 crore), Paytm IPO is said to be the biggest in India. The three-day IPO will close on November 10. Paytm IPO will launch for three days - from November 8-10.(Reuters File Photo) This comes after five companies successfully concluded their IPOs last week. Digital payments company Paytm will open its initial public offer (IPO) for subscription on Monday (November 8). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |