Paytm IPO subscription has hit the fully subscribed mark of ₹18,300-crore on Wednesday after Foreign institutional investors (FIIs) flooded the issue with offers. Latest data on stock exchanges showed that Paytm IPO received bids for 5.24 crore equity shares against the offer size of 4.83 crore shares.
Notably, Paytm also saw huge interest from Qualified institutional buyers (QIBs) too. They sought 2.13 times the shares reserved for them even though they were not very enthusiastic about their participation in the IPO in the initial two days.
As far as FIIs are concerned, they sought as many as 4.17 crore shares as against 2.63 crore shares reserved for QIBs.
Retail investors, who have been quite gung-ho about the Paytm issue, lapped up 1.62 times the 87 lakh shares reserved for them. Clearly, the portion Paytm reserved for them was not enough, considering the demand. In fact, retail investors had the smallest portion reserved for them.
On the other hand, Non-institutional investors seemed to have shunned the IPO as they bid for just 8 per cent of the 1.31 crore shares reserved for them.
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Paytm IPO had raised as much as ₹8,235 crore from anchor investors earlier.
Paytm's parent company is One97 Communications.
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