Fund of Funds: Should these be in your portfolio
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Paytm, one of the fastest-growing digital payments companies in India is launching its initial public offering (IPO) in the second week of November 2021. The company is planning on raising about Rs. 8,000 crores through its blockbuster IPO. Read on to know more about the Paytm IPO launch date, issue size, and other essential details.
Paytm was founded in 2010, and it was mainly introduced as a platform for carrying out mobile recharges. After it was listed by Uber as a payment option, it grew rapidly over the next few years. This growth was further accelerated due to the 2016 government ban in India on high-value currency notes. Since then, the digital payment platform has branched out into bank deposits, flight payments, movie payments, online food delivery service payments, insurance payments and other such transactions.
The stock market in India has seen record highs this year, prompting several corporations to launch their fund-raising efforts. Many companies have outperformed their contemporaries in Asia this year, and have good prospects for their IPOs. Paytm is one of the companies trying to tap into the capital markets this year. Valued at 16 billion US dollars currently, Paytm is shooting for a valuation between 19.3 to 19.9 billion USD with the launch of its IPO.
Paytm’s IPO can break the record for the biggest corporate IPO in India, which is currently held by Coal India. The trajectory of this platform from a mobile recharging portal to an all-around digital wallet in various branches has been meteoric. The parent company- One 97 communications, is aiming to raise Rs. 18,300 crore, out of which about Rs.10,000 crore will be raised through an offer for sale (OfS) from current shareholders and Rs.8,300 crore will be via fresh issue. The company was funded through anchor investors prior to the launch of the IPO. The Rs.8,300 worth of shares include contributions from institutional investors such as the government of Singapore. Touted as India’s next biggest stock market listing, the IPO will be launched on November 8th, 2021. The price band of the offering is fixed at Rs.2,080-2,150 per share.
As a leading company, Paytm’s performance has been consistently on the rise. Here is a quick look at the fintech giant’s recent milestones, and the prospects of its IPO:
The Paytm IPO issue size is Rs. 8,300 crores in fresh equity shares and Rs.10,000 crore for OfS. The total offer of Rs.18,300 crore is the largest in India, after the 2010 Coal India IPO, which raised Rs.15,200 crore.
The IPO price band is between Rs. 2,080-2,150 for each share.
The CEO and Managing Director of Paytm’s parent company, Vijay Shekhar Sharma is going to offload Rs.402.65 crore in shares, and the Ant group will sell Rs.4,704 crore worth of shares.
The Paytm IPO launch date is November 8th, and the closing date is November 10th. Here is a quick look at all the important Paytm IPO dates:
The Paytm IPO will be listed on the BSE as well as the NSE. The company is planning to use the proceeds from their much-anticipated initial public offering for growing their business branches and acquiring new customers and merchants. The pre-launch funding round was skipped in favour of launching the initial sale of shares earlier.
The onset of the pandemic also meant that financial transactions went almost entirely digital, thus making digital wallets a staple in every individual’s phone. As an all-rounder, Paytm has become a mainstay thanks to the quick, easy and secure transaction facilities it offers. Investors will be eager to get a stake in this company, and the rush to buy shares will be taken to various online platforms.
Ques. When is the bidding date for Paytm IPO?
Ans. The IPO offering will get open from November 8th and the offer closing date will be November 10th. The finalized allotment will be done on November 15th.
Ques. How can we check the allotment list?
Ans. The allotment list will be available on the BSE and NSE websites. Visit the BSE/NSE website and select ‘Equity’, tap on Paytm and enter the application number along with the PAN. The allotment will be shown there.
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