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Paytm Mega IPO issue subscribed 34%

November 10, 2021

Paytm Mega IPO issue subscribed 34%

The Mega IPO of One97 Communications garnered 34% membership so far on the second day of the stake deal on Tuesday. The issue is open till Wednesday, November 10.

The underlying stake deal worth ₹18,300 crore, which kicked off on Monday, was bought in 18% at the end of Day 1. It is the biggest IPO ever in Indian history.

As indicated by the information from National Stock Exchange (NSE), investors bid for 70,35,372 value shares or 0.34 percent till 11.45 am against absolute issue size of 4,83,89,422 value shares.

The portion reserved for retail investors was bought in almost 100% while the share for institutional buyers received 29% offers. The non-institutional investors amount was bought in 2% up until now, information on BSE suggested.

One97 Communication, which has turned into an easily recognized name as Paytm, has been among the greatest beneficiaries of demonetisation. The IPO hit the Street on the fifth anniversary of the note ban.

It is selling its portions in the scope of ₹2,080-2,150 each, with a face value of ₹1 each. Investors can bid for minimum 6 shares and in the multiples thereof.

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