According to the 5:00 pm statistics available on the bourses, One 97 Communications Limited, the holding company of Paytm, a digital platform for consumers and merchants, received bids for 88,23,924 shares against the 4,83,89,422 equity shares offered.
The retail component was the most popular, receiving 78 percent of the vote and raising Rs 1,479 crore, while the reserved a portion for non-institutional investors received 2% of the vote and qualified institutional purchasers received 6%. According to a press statement issued here on Monday, the issue was 18% subscribed overall.
A fresh issuance of primary equity shares with a face value of Re 1 apiece worth Rs 8,300 crore and an offer for sale (OFS) by existing shareholders worth Rs 10,000 crore are included in the transaction.
A solid group of anchor investors helped the company raise Rs. 8,235 crores. On Wednesday, November 3rd, 2021, the Company informed the bourses that it has allotted 3,83,02,326 equity shares at Rs. 2,150/- per share.
Brokerage firms such as Reliance Securities, Arihant Capital Market, Canara Bank Securities, and others have recommended that investors “Subscribe” to the issue in the long run.
Despite the epidemic, Paytm has a healthy 33 percent CAGR in GMV, according to brokerage houses, demonstrating the company’s leadership and brand value. With a GMV of Rs 4 lakh crore in FY21, it is India’s largest payments platform.
Overall, by FY26, most internet sectors in India will have reached high maturity in terms of GMV, accounting for a considerable part of overall consumption in that category; hence, India will have really become a digital economy.
Though India remains a cash-based economy, digital payments markets have been slowly developing over time. It has a market capitalization of USD 20 trillion in FY21, with 43 billion transactions. Mobile wallets and UPI are examples of mobile payments. From 252 million in FY 2021 to 650-700 million in FY 2026, the number of unique mobile payment customers is expected to rise.
The offer’s Book Running Lead Managers (“BRLM”) are Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, JP Morgan India Private Limited, Citigroup Global Markets India Private Limited, and HDFC Bank Limited.
Paytm is India’s most popular digital marketplace for both customers and businesses. As of June 30, 2021, Paytm serves 337 million registered customers and over 21.8 million registered merchants with payment, commerce, and cloud services, as well as financial services.
Paytm is the top payments platform in India, according to a RedSeer assessment, based on the number of customers, merchants, transactions, and revenue.
