India’s Biggest Tech IPO, Paytm Opens IPO Today

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The IPO window will close on November 10, 2021, and the company will be listed on the stock exchange on November 18, 2021.

Paytm’s first public offering (IPO) would start at a price range of INR 2,080-INR 2,150.

The company raised INR 8,235 crore ($1.1 billion) from anchor investors last week.

The public offering of Paytm parent One97 Communications will begin accepting bids from retail and institutional investors today, making it India’s largest tech IPO. The much-anticipated INR 18,300 IPO will complete on November 10, 2021, and Paytm will be listed on the stock exchange on November 18, 2021.

Paytm’s offer consists of a new share issue worth INR 8,300 crore and an offer for sale (OFS) for INR 10,000 crore. The first public offering would have a price range of INR 2,080-INR 2,150. The corporation hopes to raise the funds at a valuation of around $20 billion. It will be the largest tech IPO in Indian startup history at that scale.

Paytm’s IPO was approved by SEBI in late October, and the Delhi NCR-based fintech decacorn increased its IPO offer size to INR 18,300 Cr from INR 16,600 Cr, per its RHP.

One Communications, the parent company of Paytm, operates a payments gateway and a payments bank, as well as e-commerce, ticket booking, consumer financing, and merchant payments, among other verticals. As of June 30, 2021, Paytm claims to have 337 million registered users and over 21.8 million businesses.

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