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Zomato, BigBasket cheer for Paytm on mega IPO day. See posts

As the Vijay Shekhar Sharma-led company went ahead with its public issue, other brands extended their best wishes to the company.

Deepinder Goyal’s Zomato tweeted: “dear @paytm, wishing you the best of luck for today! if you need some dahi shakkar for good luck, ice cream for the stress, or some sweets for celebrations (wink wink) we are right here!”

Also Read: Paytm IPO sees strong retail demand. GMP and other key details here

Paytm responded with “thank you @zomato, dil khush kar diya.”

Matrimonial website Shaadi.com added to the comments on Zomato tweet, “When they remember things you didn’t expect them to.”

When they remember things you didn’t expect them to 👉🏼👈🏼— Shaadi.com (@ShaadiDotCom) November 8, 2021

Another online food aggregator EazyDiner went the Bollywood way to wish Paytm ahead of its mega IPO, putting a spin on the ‘Mere paas maa hai’ dialogue from Amaitabh Bachchan-Shashi Kapoor’s Deewar.

Online grocery delivery platform BigBasket too wished Paytm. “Dear @paytm, we wish you a basket full of luck and blessings!”

Paytm replied with a “big thank you!”

As the IPO went live, Kotak Securities posted, “Until now – @Paytm karo. Now – @Paytm ko apply karo.”

Earlier in the day, Paytm posted a lighthearted tweet on its handle saying “aaj baad mein Paytm kar dunga thodi na chalega (Promising to Paytm later won’t work today)”.

aaj 𝘣𝘢𝘢𝘥 𝘮𝘦𝘪𝘯 𝘗𝘢𝘺𝘵𝘮 𝘬𝘢𝘳 𝘥𝘶𝘯𝘨𝘢 thodi na chalega 😊— Paytm (@Paytm) November 8, 2021

The price band for the Paytm IPO has been kept in the range of ​​ ₹2,080-2,150, as Paytm targets a ₹1.48 lakh crore valuation. The company is set to raise ₹18,300 crore from the markets through a fresh issue of ₹8,300 crore and an offer for sale (OFS) of ₹10,000 crore. The offer has started from today, November 8, and will close on November 10.

Paytm has already raised ₹8,235 crore from anchor investors, which the company claims is the largest anchor round so far in India with ‘long term investors’ joining the IPO.

Also Read: Paytm best bet to ride fintech, but valuations lofty

The anchor investor round saw participation from Blackrock, CPPIB, Birla MF, GIC and other blue-chip funds leading to 10 times oversubscription of the shares, as per a stock exchange filing. Blackrock invested ₹1,045 crore, Canada Pension Plan Investment Board ₹938 crore and GIC ₹533 crore.

The round also saw participation from pension funds, superannuation funds as well as sovereign wealth funds like Government of Singapore, CPPIB, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, and University of Cambridge.

The largest dedicated emerging market investors like Standard Life Aberdeen, UBS and RWC have also invested.

Also Read: Is Paytm worth what its owners are asking for?

Paytm skipped pre-IPO funding round to expedite launch of the initial share sale.

Through the OFS, One97 Communications Managing Director and CEO Vijay Shekhar Sharma will offload shares worth up to ₹402.65 crore while Antfin (Netherlands) Holdings will sell shares to the tune of ₹4,704.43 crore.

Besides, Alibaba.com Singapore E-Commerce will sell shares worth ₹784.82 crore, Elevation CapitalV FII Holdings ( ₹75.02 crore), Elevation Capital V Ltd ( ₹64.01 crore), Saif III Mauritius ( ₹1,327.65 crore), Saif Partners ( ₹563.63 crore), SVF Partners ( ₹1,689.03 crore) and International Holdings ( ₹301.77 crore), as per its offer document.

Also Read: Paytm IPO: Know the risks and rewards as issue opens for subscription tomorrow

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