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The country’s largest IPO of One97 Communications (Paytm) opens for subscription today and will close on November 10. The IPO price band was fixed at ₹2,080-2,150 and the market lot is 6 shares.
One97 Communications plans to raise ₹18,300 crore from the issue.
While 75 per cent has been reserved for qualified institutional buyers (QIBs), 15 per cent has been set aside for non-institutional investors (NIIs) and the remaining 10 per cent for retail investors.
The IPO comprises issuance of fresh equity shares worth ₹8,300 crore and an offer-for-sale (OFS) of ₹10,000 crore by existing shareholders including its founder Vijay Shekhar Sharma along with Ant Financials, Alibaba, Elevation Capital, and SAIF III Mauritius Company, Saif Partners and BH International Holdings.
Anchor investors
On Friday, Paytm, raised ₹8,235 crore from 122 anchor investors by allocating 3.83 crore shares at ₹2,150 a share.
BlackRock Global Funds and Canada Pension Plan Investment Board (CPPIB) have garnered a bulk of Paytm shares offered through anchor investors' portion, according to NSE data.
BlackRock Global Funds - through World Technology Fund (40.38 lakh shares) and World Financial Fund (6.376 lakh shares) - has garnered 12.2 per cent of the total anchor portion. CPPIB has been allotted about 43.62 lakh shares (11.4 per cent).
Other anchor investors who got the shares included Aditya Birla Sun Life Trustee, Government of Singapore, Vanguard, Schroder International Selection Fund, Sands Capital Funds, Mirae Asset, Marshall Wace Investment Strategies, Fidelity, UBS, Janus Henderson, Nomura India Investment Fund, HDFC Mutual Fund, Morgan Stanley Asia (Singapore), Goldman Sachs (Singapore), Fidelity, Master Trust Bank of Japan, Janus Henderson, Aberdeen, Societe Generalle and BNP Paribas.
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