On The Eve Of Its Shares Listing On Bourses, The Story Of Paytm

Published:Nov 29, 202307:33

On The Eve Of Its Shares Listing On Bourses, The Story Of Paytm

Paytm started its journey greater than 10 years in the past primarily as a cell recharge platform

With the shares of one of many nation's main digital funds platform – Paytm - all set to be listed on the bourses on November 18, the corporate could possibly be on the cusp of changing into one of the crucial valued entities.Its preliminary public supply (IPO), which concluded on November 10, 2021, was value Rs 18,300 crore, the nation's largest until now and subsequent solely to Coal India's public supply. It was subscribed 1.89 occasions by the tip of its bidding course of.Paytm's IPO consisted of a contemporary problem of Rs 8,300 crore and a proposal on the market (OFS) by current shareholders value Rs 10,000 crore.The firm bought shares within the worth band of Rs 2,080- Rs 2,150 per share and retail traders had the choice to bid for no less than one lot of six shares as much as a most of 15 heaps. At the higher worth band, one lot of Paytm shares was priced at Rs 12,900.Investors comparable to Japan's ComfortableBank, China's Ant Group and Alibaba, and Elevation Capital had been among the many high entities who diluted their stakes within the IPO.While market analysts have been speculating over the worth at which Paytm's shares could possibly be listed, the very fact can't be denied that its founder Vijay Shekhar Sharma, rose from humble beginnings in Aligarh in Uttar Pradesh and is now all set to change into the proprietor of one of many nation's most valued firms.Let's take a look at how Paytm's journey started.OriginA faculty instructor's son, Vijay Shekhar Sharma began Paytm as a mobile phone and DTH recharging facility in 2010. Its father or mother firm One97 Communications had been integrated within the 12 months 2000.It rose swiftly quickly, after cab hailing firm Uber took its companies as a quick value chance.However the corporate hit pay filth in November 2016 when the authorities introduced demonetisation and inspired digital cost methods.This growth noticed Paytm's subscribers rising a number of occasions, because it appeared to have change into everyone's most popular platform for digital funds.Paytm together with One97 Communications is the proprietor of Paytm Payments Bank which has tens of millions of account holders beneath its fold.

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