Mumbai, Nov 8, 2021: Paytm company is selling shares in the price band of 2080-2150 Indian rupee per share and retail investors can bid for a minimum of one lot of six shares.
Starting from 8th Nov, The Paytm Initial Public Offering will remain open for subscription till Nov 10, 2021. The company is planning to raise 18,300 cr Indian rupees from this IPO.
This is going to be the biggest IPO in terms of size if it becomes successful in its bid, breaking a decade-long record by Coal India Ltd, which raised over Rs 15,200 crore in its IPO.
Paytm is aiming to utilize the returns from the IPO for various activities like "acquisition of consumers and merchants and providing them with greater access to technology and financial services". The company will also invest in new business ventures, partnerships, and acquisitions, and the remaining funds will be used for other corporate activities.
Marquee investors like WarrenBuffett, Softbank and
Alibaba Group have this advice for Paytm: Have high conviction in the biz as India is a huge market. President & Group CFO Madhur Deora shares the words of wisdom.
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