IPO - Initial Public Offers - PayTM IPO Details in IPO's & MF's - Paytm is India's leading financial services company that offers full-stack payments & financial solutions to consumers, offline merchants and online ...
Paytm is India's leading financial services company that offers full-stack payments & financial solutions to consumers, offline merchants and online platforms. The company is on a mission to bring half a billion Indians into the mainstream economy through payments, commerce, banking, investments, and financial services. One97 Communications Limited that owns the brand Paytm is founded by Vijay Shekhar Sharma and is headquartered in Noida, Uttar Pradesh, country's largest digital bank with over 58 million account holders.
The PayTM app enables customers to do cashless transactions at stores, top-up mobile phones, online money transfers, pay bills, access digital banking services, purchase tickets, play games online, buy insurance, make investments, and more. However, merchants can use the platform for advertising, online payment solutions, offering products to customers, and loyalty solutions.
Objects of the Issue:
The net proceed from the IPO will be utilized towards the following purposes;
• Growing and strengthening Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services - ₹ 4,300 Crores
• Investing in new business initiatives, acquisitions and strategic partnerships - ₹ 2,000 Crores
• General corporate purposes
Company Financials:
Paytm IPO Details
Paytm IPO Tentative Timetable
The Paytm IPO open date is Nov 8, 2021, and the close date is Nov 10, 2021. The issue may list on Nov 18, 2021.
Paytm IPO Lot Size
The Paytm IPO market lot size is 6 shares. A retail-individual investor can apply for up to 15 lots (90 shares or ₹193,500)
How to apply for IPO?
1. ASBA - All you have to do is, know if your demat is with NSDL or CDSL. Make a note of your Demat ID/DP ID/BO ID - 16 digit number from your broker terminal. Once you have these 2 information, go ahead and apply from your internet banking. One advantage in this process is that, once you submit the application, process ends there and amount gets blocked. While in UPI, you need to get mandate from your bank and need to authorize on time. Many parties are involved in UPI process (Bank, broker, 3rd party UPI app provider etc) and there are chances of delayed UPI mandates. This is a recent process and will take time to settle. Till then, it is better to apply from net banking, but ensure you enter correct 16 digit DP ID.
2. UPI - Visit your broker terminal, select the IPO, enter UPI ID and other bid details to submit the application. Wait for mandate to arrive on UPI app. Approve the mandate to block the amount.
Refer to this video to apply for IPO using UPI at Zerodha.