Paytm IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money

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Paytm IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money
BCCL
  • The lot size should be six, taking the total price to 12,900 at the upper price range.
  • Paytm is seeking a valuation of $19.3- $19.9 billion with this public issue.
  • The company’s IPO will open from November 8 to November 10.
One 97 Communications — the parent company of digital payments giant Paytm — will open its initial public offering (IPO) on Monday (November 8) to raise ₹18,300 crore ($2.4 billion). The price band of the company’s shares has been set at ₹2,080-2,150 per share.

The lot size should be six, taking the total price to 12,900 at the upper price range. The company’s IPO will open from November 8 to November 10.

Paytm — valued at $16 billion — was founded in 2010 and is one of the largest digital payments companies in India. The company is seeking a valuation between $19.3 billion to $19.9 billion with this public issue.

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China-based Alibaba Group is expected to make the most out of Paytm’s IPO. Its affiliate entities — ANT Group and Alibaba.com — will be selling shares worth ₹5,488 crore (about $733 million) cumulatively. This is nearly 30% of Paytm’s IPO size.

Founder and CEO of One 97 Communications, Vijay Shekhar Sharma, will be looking to sell shares worth ₹402 crore ($53 million) in Paytm IPO.

Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities.

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  • Login to the mobile app and select the IPO option under the console. If you’re logging in through desktop, then go to console — portfolio — IPO.
  • You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.
  • Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account.
  • Select investor type for your application.
  • Enter the lot size (number of shares required to buy in one lot) announced by the company.
  • Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.
  • Retail investors can bid for three lots.
  • After this step, click on the check box to confirm and submit.
  • The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment.
  • Now wait till the allotment date of shares to see if you have received the lot size you bid for.

Applying for IPO on Paytm Money

  • Log in to Paytm Money app.
  • Click on the IPO section on the home screen.
  • Apply for the IPO that is open for applications.
  • Add details for bidding such as quantity, amount, and more.
  • Enter UPI id to make payment.

Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it:
  • Log in to your bank’s net banking account.
  • Go to the investment section and select the IPO option.
  • Fill your investment and bank account details to complete the verification process.
  • Later select the IPO you want to apply for.
  • Enter the number of shares and bid price.
  • Read and accept ‘terms and conditions’ documents.
  • Submit your application.
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