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Digital payment company Paytm on Monday, 8 November, opened subscriptions for its Rs 18,300 crore share sale via Initial Public Offering (IPO) – the country's biggest ever.
Meanwhile, the offer size for retail investors was subscribed 78 percent, while the reserved portion of non-institutional investors (NIIs) was subscribed 2 percent, NDTV reported.
Qualified institutional buyers (QIBs) bid for 16.78 lakh shares against the offer size of 2.63 crore shares.
Retail investors can bid for a minimum of one lot, which consists of six shares, and bid for a maximum of 15 such lots.
Paytm's IPO comprises of a fresh issue of Rs 8,300 crore, and an offer for sale (OFS) by existing shareholders that is priced at Rs 10,000 crore, as per an NDTV report.
As of 10:15 am on Monday, the Paytm IPO has received subscriptions 0.03 times with retail investors category booked 0.15x, BSE data indicated, as per a Livemint report.
Paytm, as per a statement issued by the company, aims to employ the returns from the IPO for "Growing and strengthening our Paytm ecosystem, including through acquisition of consumers and merchants and providing them with greater access to technology and financial services."
(With inputs from NDTV and Livemint.)
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