Paytm IPO will open for subscription on November 8, according to a Live Mint report. The subscription period will close on November 10 and the initial public offering of the digital financial services firm will be listed at BSE and NSE on November 18. Paytm IPO size has also been increased from earlier proposed Rs 16,600 crore to Rs 18,300 crore. The initial public offering will have an offer for sale (OFS) of Rs 10,000 crore and a fresh issue of up to Rs 8,300 crore, the report says.
Paytm IPO Details
- The proposed IPO, if successful, would be the largest such offer. Coal India’s Rs 15,200-crore initial public offer (IPO) in 2010 is the country’s largest one till date, according to a media report.
- Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore. US-based valuation expert Aswath Damodaran, who is a professor specializing in finance at the Stern School of Business at New York University, has valued the unlisted shares of the firm at Rs 2,950 apiece, as reported.
- According to the documents, Paytm’s merchant base grew to 2.11 crore as on March 31, 2021 from 1.12 crore in March 2019, and gross merchandise value (GMV) almost doubled to over Rs 4 lakh crore in the financial year (FY) from Rs 2.29 lakh crore in FY 2019, media reported.
- The company has reported a narrowing of its loss to Rs 1,704 crore in FY21, from Rs 2,943.3 crore in FY20 and Rs 4,235.5 crore in FY19, as per the report.
Total income declined to Rs 3,186.8 crore in FY21, from Rs 3,540.7 crore in FY20. Paytm has reported negative cash flow of Rs 222.1 crore in FY21 primarily due to operating losses and additional working capital requirement, according to media report.
