Paytm Signs Up Over 100 Institutional Investors For IPO

Ant Group-backed fintech firm Paytm said it has allocated shares worth ₹ 8,235 crore ($1.11 billion) to more than 100 institutional investors, including the government of Singapore, ahead of what is expected to be India’s largest stock market listing.

Paytm’s offer of up to ₹ 18,300 crore, which was increased last month from ₹ 16,600 crore, garnered interest from 122 institutional investors who bought more than 38.3 million shares for ₹ 2,150 apiece, according to a regulatory document dated November 3.

BlackRock Global Funds, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority were among the investors.