Indian fintech firm Paytm signs up over 100 institutional investors for IPO

September 29, 2022

Register now for FREE unlimited access to Reuters.com RegisterPaytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/IllustrationBENGALURU, Nov 4 (Reuters) - Ant Group-backed fintech firm Paytm said it has allocated shares worth 82.35 billion rupees ($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 183 billion rupees, which was increased last month from 166 billion rupees, garnered interest from 122 institutional investors who bought more than 38.3 million shares for 2,150 rupees apiece, according to a regulatory document dated Nov. 3. Several companies including Paytm have tapped capital markets this year in a fund-raising frenzy on the back of record highs hit by the Indian stock market, which has outperformed Asian peers so far this year. ($1 = 74.3250 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rama Venkat in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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