Paytm digital payment IndiaEarlier in the day, Canada
Pension Plan Investment Board put in an order for about 6 million shares in the
main book, a source told Reuters. At the higher end of the price band, this
translates to about 12.8 billion rupees.
Paytm has put 48.3 million shares for sale in what is
expected to be India’s largest stock market listing.
Ant Group-backed Paytm said last week it allocated shares
worth 82.35 billion rupees to more than 100 institutional investors, including
the government of Singapore, BlackRock Global Funds, Canada Pension Plan
Investment Board and Abu Dhabi Investment Authority.
Paytm is looking to raise roughly $2.2 billion via the IPO
at a valuation of $20 billion.
The bids close on Wednesday and Paytm will list on Indian
bourses on Nov. 18.
Top investor Ant Financial, which owns 27.9 percent of
Paytm, plans to sell shares worth 47.04 billion rupees. -Reuters
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