The initial public offer (IPO) of homegrown fintech firm Paytm opened to a slow start on Monday (8 November).
The Paytm IPO was subscribed only 18 per cent on Monday, which was the first day of the three-day window for bidding.
On the first day, the Paytm IPO attracted bids for 88.23 lakh equity shares against offer size of 4.83 crore shares.
According to a Hindustan Times report, the portion set aside for retail investors has been subscribed 78 per cent, while the reserved portion of non-institutional investors was subscribed 2 per cent, and qualified institutional buyers have put in bids for 16.78 lakh shares against 2.63 crore shares set aside for them.
The Paytm IPO is the largest-ever public issue in the history of Indian capital market.
Share allotment is likely to take place on 15 November, and the shares are expected to be listed on 18 November.
One97 Communications Ltd, the parent company of Paytm, is offering 4.83 crore shares in the $2.4 billion IPO that will close on 10 November. The company received bids for 88.23 lakh equity shares on Monday.
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