Paytm IPO Subscribed 18 Per Cent On First Day Of Bidding, Retail Portion Booked 78 Per Cent

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.

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.