Paytm founder Vijay Shekhar Sharma on Thursday shared an inspirational message on Twitter and thanked those who believed in the digital payments company. Sharma’s tweet comes hours before Paytm makes its debut on the stock markets.
“Man, I can feel for our cricket team! So many messages, wishes, & kind words. Feels like carrying the hopes and aspirations of young India to the Stock Market. From coal to a fintech, in 11 years – India has transformed. To every Paytmer, you’ve changed India for good,” Sharma said in his tweet.
It was a reference to Team India’s win against New Zealand in Jaipur on Wednesday, and Paytm’s initial public offering (IPO) – the biggest after Coal India.
During the three-day subscription window (from November 8-10), the country’s biggest IPO was subscribed 1.89 times with institutional buyers including FIIs flooding the share sale with offers seeking 2.79 times the number of shares reserved for them.
Retail investors lapped up for 1.66 times the 87 lakh shares reserved for them.
Other IPOs, particularly Nykaa and food delivery firm Zomato, had received stronger demand from the investors on their opening days. However, the issue size was much smaller compared to Paytm’s share sales.
Paytm IPO comprised a fresh issue of equity shares worth ₹8,300 crore and an offer for sale (OFS) of shares worth up to ₹10,000 crore.
Sharma is offloading his share worth up to $53.94 million in Paytm through the IPO, along with top investor Ant Financial.
The Paytm IPO is touted to be the biggest after Coal India’s offer in 2010. As far as this year’s biggest IPO is concerned, Zomato held the title till now with its $1.3 billion (approximately ₹9,634 crore) share issue in July.
Paytm’s parent company One97 Communcations, incorporated in 2000, is India’s leading digital ecosystem for consumers and merchants. It offers a range of services to the users – payment services and financial services.