Paytm’s IPO is going to launch today i.e. on November 8. Investors will have a chance to invest in it till the coming November 10. The IPO of One97 Communications, which operates Paytm, will open for investors on November 8 and close on November 10. At present, the IPO market is witnessing a very good growth. In the coming few days many companies are going to launch their IPO. Paytm is a leading fintech company providing digital transactions facility.
Paytm’s parent company One97 Communications is preparing to raise Rs 18,300 crore from the market through its IPO. The company’s IPO consists of issuance of equity shares worth Rs 8,300 crore and equity shares worth Rs 10,000 crore by existing shareholders under Offer for Sale (OFS). The company has fixed a price band of Rs 2,080 to Rs 2,150 per share for its shares.
With this, this IPO of Paytm will become the biggest IPO to be launched so far. Earlier in the year 2010, Coal India’s Initial Public Offering (IPO) of Rs 15,200 crore was the largest IPO in the country so far. Fintech company PayTm is eyeing a valuation of Rs 1.47-1.78 lakh crore. Paytm has stated in its draft prospectus that it plans to sell an equal number of new and existing shares.
Paytm has the largest number of customers in the merchant-payments market. It has over 20 million merchant partners in its network. According to the company, its customers do transactions worth 1.4 billion rupees every month. Let us tell you that even before the launch of its IPO, Paytm has raised Rs 8,235 crore from its anchor investors. Paytm had also decided to withdraw from the pre IPO round to launch its IPO early.