Amidst a record rally in the IPO market, on Monday, November 8, another big company has entered. Today Paytm’s parent company One97 Communications has opened an IPO worth Rs 18,300 crore. Its price band is Rs 2080-2150. If this issue of Paytm is fully subscribed, then it will be India’s biggest IPO. Earlier, the biggest issue of Coal India took place in 2010. The Paytm issue will open on November 8 and close on November 10. In the Rs 18,300 crore IPO, a fresh issue of Rs 8,300 crore has been floated while shares worth Rs 10,000 crore will be offered for sale.
IPO Opening Date :- November 8, 2021
IPO Closing Date :- November 10, 2021
Date of Allotment :- November 15, 2021
Beginning of refund :- November 16, 2021
Credit of Shares :- November 17, 2021
IPO Listing Date :- November 18, 2021
Earlier, the largest government company Coal India had come out with an IPO of Rs 15,000 crore. Paytm was founded in the year 2000 by Vijay Shekhar Sharma. The company had launched a mobile recharging service in 2010. The company has since expanded its service and currently a lot is being done using the Paytm app, including hotel booking and Mussari tickets.
Paytm Rs. The Rs 18,300 crore IPO will be the biggest ever in the country. Till now, the record was held by Coal India Limited, which launched in 2010 with an IPO of Rs 15,000 crore. PaytmThe Gray Market Premium (GMP) of the issue in the unlisted market is Rs. Running on 135. The issue price of Paytm is Rs 2080-2150. Accordingly, its unlisted shares are priced at Rs. Trading at 2285 (2150 + 135).
Paytm shares are trading in the unlisted market for the last 3 years. According to a report, Paytm will use the IPO proceeds to expand its existing business line and add new merchants and customers to its network.