Nearly 350 former and current employees of digital payments and financial services platform Paytm are set to become millionaires thanks to the company’s $2.5 billion IPO.
According to a Reuters report, each of these Paytm employees will now have a net worth of at least Rs 1 crore.
With the sale of shares worth Rs 18,300 crore, Paytm IPO has become the largest fintech IPO in the Asia Pacific region.
Electronics engineer Siddharth Pandey, who joined Paytm nine years ago, is all set to become a millionaire after the company’s listing next week.
less than 1000 employees
9 years ago Paytm was a small payments company with less than 1,000 employees.
Siddharth Pandey’s father against his working in Paytm.
He recalls his conversation with his father, saying that his father was very demotivated.
He said what is this Paytm? Work once in a company that people know about.
Millionaire even after leaving Paytm
Pandey, 39, no longer works for Paytm. He has joined another start-up. He worked with the company for seven years.
During this he accumulated thousands of shares.
Paytm shares were priced at Rs 2,150 on November 12, which means that soon the shares held by Pandey will be worth more than $1 million.
On Wednesday, the issue of India’s biggest IPO i.e. Paytm was oversubscribed 1.89 times.
The company’s IPO was worth Rs 18,300 crore, making it one of the most valued companies in the country.
As per information available on stock exchanges, Paytm’s parent company One97 Communications Limited received applications for 9.14 crore equity shares against 4.83 crore shares in the IPO.
how to check status
If you have also applied in Paytm’s IPO, then let us know that the date of allotment of shares is November 15.
To check status, log on to BSE link – bseindia.com/investors/appli_check.aspx.
Select Paytm IPO and then enter your Paytm IPO Application Number. Enter your PAN card details.
Click on ‘I’m not a robot’ and click on ‘Submit’ button. You will get to know the allotment status of your application.
list next week
The portion set aside for retail investors was quickly oversubscribed.
Institutional buyers, including FIIs, bought sharply in selling of shares on Wednesday and sent applications 2.79 times against the reserve shares.
Retail investors applied for 1.66 times of the 87 lakh shares reserved.
Paytm’s stock is now ready for a bumper listing next week and will be one of the most valuable companies in India.
Paytm had fixed the price of its shares in the price band of Rs 2,080-2,150 per share, valuing it at Rs 1.39 lakh crore from the upper price of the company’s price band.
This is more than Rs 15,000 crore even more than the value of Coal India a decade ago.