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Paytm IPO subscribed 18 percent on Day one | Paytm IPO got 18 percent subscription on the first day, about 78 percent of the reserved shares were bought

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Paytm IPO got 18 percent subscription on the first day, about 78 percent of the reserved shares were bought

New Delhi: Bids were placed for just 18 per cent of the shares on the first day of the country’s largest initial public offering (IPO) brought by digital payments platform Paytm. One97 Communications Limited, the operator of the Paytm brand, on Monday introduced an IPO worth Rs 18,300 crore in the stock market. Under this IPO, the company has offered 4.83 crore shares, out of which only 88.23 lakh shares were subscribed on the first day.

According to information received from the stock exchanges, about 78 percent of the shares reserved for retail investors have been bought. Bids have been received for only two per cent of the shares reserved for non-institutional investors. Besides, eligible institutional investors placed bids for only 16.78 lakh shares out of 2.63 crore reserved shares on the first day of the issue.

Compared to Paytm, the IPO of Nykaa and Zomato Ltd got stronger investor support on the very first day. It is a different matter that their issue size was much smaller than that of Paytm. With an estimated value of around Rs 1.39 lakh crore, Paytm has kept a price range of Rs 2,080-2,150 per share. The sale of shares under the issue will close on November 10. The allotment of shares is expected on November 15 while it is expected to be listed on the stock exchange on November 18.

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