It is also the second largest fintech IPO of 2021 globally, after Spain-based Allfunds IPO
Digital payments and financial services firm Paytm has fixed an offer price of ₹2,150 apiece for its initial share-sale.
The shares of Paytm are expected to list on bourses on November 18, according to the final prospectus filed by the company with the Registrar of Companies on November 12.
Paytm had priced its shares in a price band of ₹2,080-2,150 per share, valuing the company at ₹1.39 lakh crore at the upper end of the price band.
With the ₹18,300-crore share sale via Initial Public Offering (IPO), Paytm IPO has become the largest fintech IPO in the Asia Pacific region.
It is also the second largest fintech IPO of 2021 globally, after Spain-based Allfunds IPO.
Overall, Paytm will be the fourth largest fintech stock debut, globally.
The company’s document shares a preview of the fees paid to legal partners, book running lead managers (BRLMs) and other advisors, for its IPO.
According to the prospectus, Paytm will be paying its BRLMs ₹323.9 crore, which is about 1.8% of the total issue size of ₹18,300 crore and amongst the largest ever cumulative BRLM payouts in India.
Paytm had appointed Morgan Stanley, Goldman Sachs, Axis Capital, ICICI Securities, JP Morgan, Citi, and HDFC Bank as its BRLMs for the IPO.
Legal counsels in India and global capital markets, including Shardul Amarchand, Latham & Watkins, Khaitan & Co, and Shearman & Sterling have also acted under various capacities in the IPO The Paytm IPO closed with 1.89 times subscription.
A total of 9,14,09,844 Paytm shares were bid for as opposed to the 4,83,89,422 shares available. Paytm got total bids worth ₹19,653 crore vs ₹10,065 crore of the main book.
As per data from the exchanges, Paytm’s QIB portion was oversubscribed by 2.79 times with participation from foreign institutional investors, domestic financial institutions(banks/ financial institutions(FIs)/ insurance companies) and mutual Funds.
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