Paytm has raised Rs 8,235 crore from anchor investors as part of its IPO of Rs 18,300 crore. Top sovereign wealth funds and financial investors such as Singapore’s GIC, Canada’s CPPIB, BlackRock, Birla MF, Alkeon Capital, Abu Dhabi Investment Authority are among those to have picked up stake in the fintech major’s parent One97 Communications’ anchor slot. Blackrock invested ₹1,045 crore, Canada Pension Plan Investment Board ₹938 crore and GIC ₹533 crore.
With this, Paytm has already secured 45 per cent of its $2.4 billion ( ₹18,300 crore) IPO. The offer will be the biggest in the country after Coal India’s IPO in 2010 wherein the state-owned had garnered $2.03 billion ( ₹15,200 crore). The price band for the IPO will be between ₹2,080-2,150 per share.
Paytm launched in 2009 to help users easily make digital payments from their phones and top up credit. It has since expanded to a wide range of services such as payment gateway, e-commerce marketplace, movie and travel ticket booking, as well as insurance and digital gold.
Through the OFS, One97 Communications Managing Director and CEO Vijay Shekhar Sharma will offload shares worth up to $53.94 million ( ₹402.65 crore) while Antfin (Netherlands) Holdings will sell shares to the tune of $643 million ( ₹4,704.43 crore).
According to research firm Redseer, Paytm has mobile payments transaction volume market share of approximately 40 per cent, and wallet payments transaction market share of 65-70 per cent in India as of FY 2021.
With several factors, including government initiatives and reforms, improving technology, increasing reach and awareness, digital payments are expected to more than double from $20 trillion in FY 2021 to $40-50 trillion by FY 2026.