Paytm IPO: Retail portion subscribed 1.23 times
BENGALURU: The Rs 18,300-crore Initial Public Offering (IPO) of One97 Communications-owned Paytm on the second day, Tuesday, saw its retail portion oversubscribed at 123%.
This would be a big boost to the leading financial services company Paytm, as it got a muted response on the first day of the bidding.
According to data from the exchanges, the total subscription now stands at 48%. It was subscribed just 18% on Monday.
As per sources, the Canada Pension Plan Investment Board (CPPIB), has bid for 6 lakh shares worth Rs 1,280 crore on the second day of the IPO. The CPPIB had invested in the anchor round of the IPO.
On the second day, the total shares that were bid by Foreign Institutional Investors (FII) stood at 1,20,03,522.
It is expected that QIBs (Qualified Institutional Buyers) will participate mostly on Wednesday, the last day of the subscription. Paytm IPO is quite larger than Zomato and Nykaa, as their price bands were lower.
Paytm opened for offer on November 8 and it will close on November 10. The price band has been kept in the range between Rs 2,080 and Rs 2,150. The company targets a $20 billion valuation.