Paytm's IPO Subscribed 48% On Second Day Of Issue

Paytm's Rs18,300 crore share sale via initial public offer (IPO), the country's biggest-ever, was subscribed 48 per cent at the end of the second day of the issue, receiving bids for 2.34 crore equity shares against offer size of 4.83 crore shares.

The shares set aside for retail investors were subscribed 100 per cent as they received 90,01,254 bids for 87,98,076 shares reserved for retail individual investors, according to data on BSE.

Shares reserved for non-institutional investors were subscribed 5 per cent, while qualified institutional buyers (QIBs) put in bids for 46 per cent shares of the portion set aside for them.

Paytm is selling shares in the price band of Rs 2,080-2,150 per share and retail investors can bid for a minimum of one lot of six shares up to a maximum of 15 lots. At the upper price band, one lot of Paytm shares will cost Rs 12,900.

Paytm allocated shares worth Rs 8,235 crore to more than 100 institutional investors, including the government of Singapore, ahead of the country's largest stock market listing.