“India has changed”: hours before Paytm stock listing, Vijay founder Shekhar Sharma shares a message
“India has transformed”: a few hours before Paytm’s share listing, Vijay founder Shekhar Sharma shared a message
Paytm has opened its initial public subscription offering in three days, during which it has been registered 1.89 times. Vijay founder Shekhar Sharma is getting rid of his $53.94 million stake in Paytm through an IPO, along with lead investor Ant Financial.
Paytm founder Vijay Shekhar Sharma shared an inspirational post on Twitter on Thursday and thanked those who believe in the digital payments company. Sharma’s tweet came hours before Paytm’s stock market debut.
“Dude, I can feel for our cricket team! Lots of messages, wishes and well wishes. We want to bring the hopes and aspirations of young Indians to the stock market. From coal to fintech, in 11 years India has changed. With every Paytmer you have changed India for the better,” Sharma said in her tweet. after Coal India.
Within a three-day registration period (from November 810), the country’s largest IPO was registered 1.89 times with institutional buyers, including FII, flooding the sale of shares. Offers search 2.79 times the number of shares reserved for them.
Retail investors have accumulated 1.66 times the 870,000 shares available to them.
Other IPOs, notably Nykaa and food delivery company Zomato, received stronger demand from investors in the early days of opening. However, the size of the show was much smaller than Paytm’s stock sales.
Paytm IPO consists of an issue of new shares valued at 8,300 crore and an offer to sell (OFS) of shares valued at up to ₹10,000 crore.
Sharma exits her $53.94 million stake in Paytm through an IPO, with principal investor Ant Financial.
Paytm’s IPO is said to be the biggest after Coal India’s 2010 offering. As for the biggest IPO of this year, Zomato has held shares to date worth $1.3 billion (approx. 9,634 crore ) in July.
Paytm’s parent company, One97 Communcations, founded in 2000, is India’s leading digital ecosystem for consumers and merchants. It provides a wide range of services to users of payment and financial services.
