India’s payment giant, Paytm, has seen its initial public offering subscribed 48% on the second day of the issue period.
In Brief:
Reuters reports on Tuesday it has received bids for 23.5n shares.
48.3mn shares are on offer from Paytm.
Canada Pension Plan Investment Board has ordered 6mn shares.
What does this mean?
If the IPO is fully subscribed, it’s set to be worth $2.47bn, and will be India’s largest ever stock market listing. Paytm, which is backed by Ant Group, reported that shares have been allocated to more than 100 investors so far – in addition to Canada Pension Plan, these include the government of Singapore and BlackRock Global Funds.
