Startup News ( 7th November 2021 ): Paytm’s IPO will open from 8th November 2021 to 10th November 2021
One 97 Communications — the parent company of digital payments giant Paytm — will open its initial public offering (IPO) on Monday (November 8), at a price band of ₹2,080-2,150 per share.
The key points to note about Paytm’s IPO which will open on Monday, 8th November 2021
- The lot size should be six, taking the total price to 12,900 at the upper price range.
- Paytm is seeking a valuation of $19.3- $19.9 billion with this public issue.
- The price band for the offer has been fixed at Rs 2,080 to Rs 2,150 per equity share.
Paytm plans to use the proceeds of the fresh issue to grow its business lines and acquire new merchants and customers. The company skipped the pre-IPO funding round to expedite the launch of the initial share sale.
You may want to read this post about Paytm: Paytm raises over Rs 8,000 crore from anchor investors
Paytm is the largest payments platform in India with a gross merchandise value (GMV) of Rs 4,03,300 crore in FY21 against Rs 3,03,200 crore in FY20.
Vijay Shekhar Sharma is the Managing Director and Chief Executive Officer of the company, and the Chairman of the board. Douglas Feagin is the Non-Executive Director (nominee of Antfin (Netherlands) Holding B.V.).
Follow TechnoVans on Twitter: @helloTechnoVans