Paytm’s Rs 18,300 cr IPO fully subscribed with boost from FIIs

Paytm’s Rs 18,300-crore IPO was on Wednesday fully subscribed with FIIs flooding the issue with offers.

The initial public offering of Paytm’s parent company One97 Communications Ltd received bids for 5.24 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges.

Qualified institutional buyers (QIBs), who were less than enthusiastic in participating in the IPO in the initial two days, flooded the issue, seeking 1.59 times the shares reserved for them.

Foreign institutional investors (FIIs) sought 4.17 crore shares as against 2.63 crore shares reserved for QIBs.

Retail investors lapped up for 1.46 times the 87 lakh shares reserved for them.

QIBs had the largest number of shares reserved for them at 2.63 crore. Against this, bids were received for 4.18 crore at 1326 hours on Wednesday, according to stock exchange information.

The portion set aside for retail investors has been subscribed 1.46 times with 1.28 crore shares being sought against a reservation of 87.98 lakh. Retail investors had the smallest portion reserved for them.

Non-institutional investors bid for just 8 per cent of the 1.31 crore shares reserved for them.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor