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Paytm may allot shares at this level on November 16, approval may be given on Monday

Paytm IPO news: After the approval of SEBI, Paytm will probably allot shares on Tuesday. SEBI’s nod is expected on Monday. Bids received by Paytm in its initial public offering (IPO) of Rs 18,300 crore

Paytm IPO news: After the approval of the Securities and Exchange Board of India (SEBI), Paytm may allot shares at the upper level of the price range on November 16 at a price of Rs 2,150 per share. Sources familiar with the matter said that Paytm may get regulatory approval for this on Monday. According to the news of PTI, it was earlier being said that digital payments and financial services company Paytm will allot shares on Monday.

IPO worth Rs 18,300 crore

According to the news, a source said that after the approval of SEBI, Paytm will probably allot the shares on Tuesday. SEBI’s nod is expected on Monday. Based on the bids received by Paytm in its initial public offering (IPO) of Rs 18,300 crore, the company will be listed at an undertaking value of Rs 1,49,428 crore. It will sit PD / EOE from $ 20 billion.

One of the most valuable companies in the country

The country’s largest IPO was subscribed 1.89 times. The IPO was subscribed 2.79 times in the institutional buyer category. On the other hand, 1.66 times bids were received on 87 lakh shares reserved for retail investors. Paytm is all set to get heavily listed on November 18. It will be one of the most valuable companies in the country.

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Coal India’s IPO got great support

Earlier, the highest number of bids were received for the IPO of the country’s largest Coal India on the last day of the issue. Coal India’s IPO closed on the last day with 15.28 times subscription. A similar trend has also been seen in the recent IPOs of Nykaa and Policybazaar. Under Paytm’s IPO, new shares worth Rs 8,300 crore were issued and an offer for sale (OFS) of Rs 10,000 crore was brought.

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