Paytm, India’s own own digital payment system formerly known as One97 Communications, will launch its initial public offering for subscription on November 8, 2021, in what will be India’s largest ever D-St debut since Coal India.
Anchor investors for the $2.46 billion (Rs 183 billion) IPO include the world’s largest asset manager, BlackRock, the Canada Pension Plan Investment Board, and sovereign wealth funds from Singapore and Abu Dhabi. Anchor investors will purchase approximately half of the company’s IPO.
The issue will be offered on November 8, 2021 and will end on November 10, 2021.
The IPO price range has been set at Rs 2,080 to Rs 2,150 per share.
With this problem, the business hopes to expand and develop the Paytm ecosystem, especially by acquiring and retaining consumers and merchants, as well as giving them with increased access to technology and financial services (Rs. 4,300 cr.). In addition, the company intends to engage in new business initiatives, acquisitions, and strategic alliances (Rs 2,000 cr), as well as other general corporate purposes.
Paytm is the largest payments platform in India and a leader in the country’s digital ecosystem for consumers and merchants. Its entire merchant base has increased from 11.2 million on March 31, 2019 to 21.1 million on March 31, 2021.
