Paytm IPO Fully Subscribed By Noon On Final Day

Qualified institutional buyers, which include investors like financial institutions, banks and foreign institutional investors, were seen bidding in large numbers in the IPO.

Paytm's Rs 18,300 crore share sale via initial public offering (IPO) was fully subscribed by afternoon on the final day of the subscription, data from stock exchanges showed. Paytm IPO was subscribed 1.22 times by 1:45 pm, according data from the National Stock Exchange. Paytm received over 5.89 crore bids for 4.83 crore shares on the offer. A total of 1.05 crore bids were received at the cut off price.

Qualified institutional buyers, which include investors like financial institutions, banks and foreign institutional investors, were seen bidding in large numbers as the portion reserved for them was subscribed 1.88 times. Among the QIBs, foreign institutional investors placed bids for 4.94 crore shares. Non-institutional investors were showing tepid response to the issue as number of shares set aside for them was subscribed 13 per cent, data from BSE showed.

Retail investors were also seen participating in large numbers as the portion set aside for them was booked 1.5 times.

Paytm is selling shares in the price band of Rs 2,080-2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots. At the upper price band one lot of Paytm shares will cost Rs 12,900.