paytm ipo, anchor investors, investors, alkeon capital
AgenciesPaytm has raised Rs 8,235 crore from anchor investors as part of its initial public offering of Rs 18,300 crore. Top sovereign wealth funds and financial investors such as Singapore’s GIC, Canada’s CPPIB, BlackRock, Alkeon Capital, Abu Dhabi Investment Authority are among those to have picked up stake in the fintech major’s parent One97 Communications’ anchor slot.
Fidelity, Standard Life Aberdeen, UBS and US hedge fund Janus Henderson, which recently invested in PharmEasy and made an anchor investment in Nykaa, have also picked up shares. Aditya Birla Mutual Fund and other domestic mutual funds are also among the 122 funds who put bids in this round which was oversubscribed by around 10 times, people aware of the matter said.
BlackRock, CPPIB and GIC are among the top investors in Paytm’s anchor round who have together invested more than Rs 2,516 crore, according to Paytm’s filing to the BSE late Wednesday night.
Typically, large investors who are allotted shares at a fixed price ahead of a public offering play the role of anchors as well as indicators of the popularity of the IPO. Paytm’s IPO is slated to open on November 8 and will close on November 10.
Biggest Issue so Far in India
ET had reported in its editions on October 7 and October 12 about the ongoing discussions between Paytm and some of the overseas investors cited above for a slot in the Noida-based company’s anchor investment round.
paytm ipo, anchor investors, investors, alkeon capital
ETtech

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paytm ipo, anchor investors, investors, alkeon capital

Paytm, which had initially filed for a Rs 16,600 crore IPO in July, has increased the offer size by Rs 1,700 crore taking it to Rs 18,300 crore–the largest IPO in Indian corporate history. It has announced a price range of Rs 2,080 to Rs 2,150 for the IPO aiming at a valuation of $19.5-20 billion. With the close of the anchor investment, Paytm has now raised 45% of its total capital it intends to raise through the IPO.
Food delivery platform Zomato’s stellar IPO in July had set the stage for startups to tap the public markets. Now, Paytm’s listing is expected to mark an equally seminal moment for Indian startups looking to go public and attract further attention from global investors.
Last week, Paytm president and group CFO Madhur Deora told ET that the company was in talks with several marquee investors for the anchor round and that it is inclined to pick long-term investors with a track record. Paytm, though it is going public, will continue to chase growth but in an ‘efficient’ manner, he said.
Paytm’s red herring prospectus (RHP) showed that its operational revenue during the June quarter of financial year 2022 has jumped over 61% to Rs 890 crore, compared to Rs 551 crore in the same period a year ago.

paytm ipo, anchor investors, investors, alkeon capital
ETtech
During the same period, its losses totalled Rs 382 crore compared to over Rs 284 crore in the same period a year ago. Paytm’s revenue is being driven by payment and financial services, which now contribute around 77% of its total revenue, according to the filings.
Following the increase in Paytm’s IPO size, the offer for sale (OFS) component is Rs 10,000 crore while the rest is through fresh issuance of shares. Paytm founder Vijay Shekhar Sharma, top investors such as Japan’s SoftBank, China’s Ant Group and Alibaba as well as Elevation Capital are among the major investors diluting their holding in Paytm.
ET also reported last week that Sharma will use part of the OFS proceeds to finance his insurance deal of acquiring QBE Raheja, where Zurich-based Swiss Re is also picking up a 23% stake.

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