Paytm IPO: Latest GMP, key things to know ahead of India's biggest public issue
Paytm has raised shares worth ₹ 8,235 crores ($1.11 billion) from more than 100 institutional investors, including the government of Singapore, ahead of what is expected to be India's largest stock market listing. Paytm's parent One97 Communications will come out with its initial public offering (IPO) next week on Monday, November 8 with the price band fixed at ₹ 2,080-2,150 per share. Paytm shares premium has slipped in the grey market from yesterday and is commanding a premium of ₹ 125 today, say, market observers. The shares of the company are expected to list on leading stock exchanges BSE and NSE on November 18, 2021. The IPO, which concludes on November 10, comprises issuance of fresh equity shares worth ₹ 8,300 crore and Offer for Sale (OFS) by existing shareholders to the tune of ₹ 10,000 crore. Paytm's IPO is likely to be the biggest in the country's corporate history, breaking a record held by Coal India Ltd, which raised ov...