Paytm’s parent company One97 Communications said on Thursday that Paytm’s Initial Public Offer (IPO) will open for applications on November 8. The price band of Paytm IPO has been fixed at Rs 2080-2150. Based on this, the valuation of the company works out to around Rs 1.48 lakh crore.
The last date for bidding for the IPO will be till November 10. This will be the biggest IPO of the country till date. Till now, this record was held by state-owned Coal India, which raised Rs 15,200 crore through IPO in October 2010.
PM Modi leaves for Italy and UK tour, India can raise these issues in G-20 summit
Vijay Shekhar Sharma, Managing Director and Chief Executive Director of One97 Communications, said in a pre-IPO conference on Thursday that he has received personalized messages from investors who are looking to invest for the first time in the country and also said that “This is the age of India.”
Fintech company Paytm is preparing to raise Rs 18,300 crore from IPO. This includes new shares worth Rs 8,300 crore and offer-for-sale (OFS) of about Rs 10,000 crore.
Nykaa IPO: Issue fully filled on day one, retail portion filled 3.51 times
Giving information about the IPO, Sudarshan Ramakrishna, Managing Director, Goldman Sachs India Securities said, “The price band has been fixed in the range of Rs 2,080 to Rs 2,150 per share. This means the valuation of the company is US$ 19.3 to US$ 19.9 billion. dollars.” At the current Accent Rate, the valuation of the company is between Rs 1.44 lakh crore and Rs 1.48 lakh crore.
Sharma said, “If we can say that 2010-20 was the time of Asia broadly, of China and Japan and other countries then 2020-30 is totally India’s time. This is the era of India. Whether it is a Be it a private company, a startup, a listed company or a company going to be listed. This is the time when the world is going to give you money.”
Sharma will sell his shares in OFS for up to Rs 402.65 crore, AntFin (Netherlands) Holdings up to Rs 4,704.43 crore, Alibaba.com Singapore E-commerce up to Rs 784.82 crore and Elevation Capital v FII Holdings up to Rs 75.02 crore.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.
.