Paytm IPO opens for subscription: 10 things about India’s biggest IPO worth Rs 18,300 crore


New Delhi: The initial public offer (IPO) of One97 Communications, which operates under the Paytm brand name opened for subscription on November 8, in the price band of Rs 2,080-2,150 per share, implying a valuation of around Rs 1.48 lakh crore.

The Rs 18,300 crore-offer, if successful, will be the biggest in the country after Coal India’s IPO back in 2010 wherein the state-owned company had garnered Rs 15,200 crore.

Here are 10 things about Paytm IPO

1. The IPO — which will close for subscription on November 10 — comprises issuance of fresh equity shares worth Rs 8,300 crore and offer for sale (OFS) by existing shareholders to the tune of Rs 10,000 crore.

2. The Digital payments and financial services firm on Wednesday raised Rs 8,235 crore from anchor investors ahead of its initial share sale.

3. The anchor investor round saw participation from Blackrock, CPPIB, Birla MF, GIC and other blue-chip funds leading to 10 times oversubscription of the shares, as per a stock exchange filing.

4. Blackrock invested Rs 1,045 crore, Canada Pension Plan Investment Board Rs 938 crore and GIC Rs 533 crore.

5. The round saw participation from pension funds, superannuation funds as well as sovereign wealth funds like Government of Singapore, CPPIB, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, and University of Cambridge.

6. The largest dedicated emerging market investors like Standard Life Aberdeen, UBS and RWC have also invested. With this, Paytm has already secured 45 per cent of its Rs 18,300 crore initial public offer (IPO).

7. Paytm’s anchor round’s size alone can be termed as the eighth largest private company IPO in India.

8. The company’s IPO price band values it in the range of USD 19.3 – 19.9 billion. At current exchange rates, the enterprise value is Rs 1.44 lakh crore to Rs 1.48 lakh crore.

9. Through the OFS, One97 Communications Managing Director and CEO Vijay Shekhar Sharma will offload shares worth up to Rs 402.65 crore while Antfin (Netherlands) Holdings will sell shares to the tune of Rs 4,704.43 crore.

10. Besides, Alibaba.Com Singapore E-Commerce will sell shares worth Rs 784.82 crore, Elevation CapitalV FII Holdings (Rs 75.02 crore), Elevation Capital V Ltd (Rs 64.01 crore), Saif III Mauritius (Rs 1,327.65 crore), Saif Partners (Rs 563.63 crore), SVF Partners (Rs 1,689.03 crore) and International Holdings (Rs 301.77 crore), as per its offer document.

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