Paytm IPO to open on November 8; company aims to raise over Rs 18000 crore
The IPO of Paytm’s parent company One97 Communication Limited (OCL) will open on November 8 and close on November 10. Through this IPO, the company has set a target of raising Rs 18,300 crore. If successful, it will be India’s biggest IPO ever. India’s biggest IPO so far was brought by Coal India in 2010.
Before the IPO, the gray market premium (GMP) of this company is trading in the range of Rs 125 to Rs 135 per share. At the same time, the price band of the IPO is Rs 2,080 to Rs 2,150 per equity share. Considering the current GMP, the company is likely to get listed at Rs 2,285 per share.
How much will be the lot size: It is expected that the lot size of the IPO will be at least six shares, for which Rs 12,900 may have to be spent. A maximum of 15 lots of 90 shares can be applied for. For this, Rs 1,93,500 will have to be spent.
The Vijay Shekhar Sharma-led firm has raised Rs 8,235 crore from anchor investors on November 3. BlackRock, CPPIB, Birla MF, GIC and other blue-chip funds participated in the anchor fund raising round.
