Paytm set for stock market debut today after $2.5 billion IPO
Zee News
Paytm, which counts China`s Ant Group and SoftBank among its backers, raised $1.1 billion from institutional investors and last week received $2.64 billion worth of bids for the remaining shares on offer, or 1.89 times.
New Delhi: Indian digital payments company Paytm is set to make its stock market debut on Thursday, after its $2.5 billion initial public offering (IPO), India`s largest, was oversubscribed last week.
Paytm, which counts China`s Ant Group and SoftBank among its backers, raised $1.1 billion from institutional investors and last week received $2.64 billion worth of bids for the remaining shares on offer, or 1.89 times.
The company, headquartered on the outskirts of India`s capital New Delhi, has priced its 85.1 million-share issue at the top of the range at 2,150 rupees ($28.92) each. It had flagged a price range of 2,080-2,150 rupees per share for the deal.
