Paytm IPO To Open On Nov 8, Check Price Band And other Details

 The listing for Paytm will happen soon. According to the sources familiar with the matter, Paytm's Rs 18,300 crore initial public offering will take place between November 8 and 10 at a price range of Rs 2,080-2,150 per share. The initial plans were for Diwali but that got postponed by a few days due to the issues with approval from the Securities and Exchange Board of India (SEBI).

 This is expected to be India's largest market debut, surpassing Coal India's record of Rs 15,000 crore raised over at least 10 years ago. As we know, the original plan was Rs 16,600 crore listing but that was hiked by the company to Rs. 18,300 crore.

Existing shareholders will sell more of their shares in the offer-for-sale (OFS) component, which will account for the increased part. The original offering will continue at Rs 8,300 crore, while the secondary offering will be increased to Rs 10,000 crore.

The payments app is presently India's second most valuable online firm, with a market capitalization of $16 billion following a billion-dollar funding round headed by T Rowe Price, Discovery Capital, and D1 Capital in November 2019.