On Friday, Digital payment startup Paytm has filed a draft prospectus for its primary public offering of ₹16,600 crores the day Zomato's IPO concludes. Paytm IPO constitutes a new issue of up to ₹8,300 crores, tender for the sale of up to ₹8,300 crores.
Paytm's IPO is what India's IPO market looks like. As per the draft prospectus, JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank are among the lead book-running managers for Paytm IPO, Reuters reported forward to as Zomato's IPO concludes today. One97 Communications Ltd, the owner of Paytm, which filed the draft on Friday, announced the proceeds of the IPO would be utilised to "strengthen its payment ecosystem and for new business initiatives and acquisitions".
On Monday, Paytm received the endorsement of its shareholders to inflate capital through IPO, which is invoiced to be the country's most comprehensive public offer of ₹16,000. News agency PTI reported citing a source, "Shareholders have approved all the proposals at the extraordinary general meeting. The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to ₹12,000 crore during the IPO. The secondary raise will bring the total to ₹16,600 crore,".
The most comprehensive IPO ever-
Reports stated that Coal India had appeared up with the biggest IPO issue of around ₹15,500 crores recorded in the last quarter of 2010. Zomato's IPO of ₹8,375 crores was the most influential IPO of this year so far. Paytm shareholders include Alibaba's Ant Group (29.71 per cent), Softbank Vision Fund (19.63 per cent), SAIF Partners (18.56 per cent) and Vijay Shekhar Sharma (14.67 per cent). AGH Holding, T Rowe Price, Discovery Capital and Berkshire Hathaway are other shareholders in the company.
Zomato, Paytm IPO adaption-
Zomato IPO was started on July 14. On the second day, it was oversubscribed 4.8 times, marking a noticeable variation in consumer behaviour, as a new set of investors debuted in the capital market within Zomato IPO. Paytm Money endeavoured to book Zomato shares and told the average Zomato IPO investor was a year younger than what this platform has observed. Paytm Money said, "The average Zomato IPO investor was a year younger than applicants for previous IPOs on Paytm Money. Average investment in Zomato IPO on Day 1 was 20 per cent higher than average investment in previous IPOs on Paytm Money,".