Kiara Advani
Vijay Shekhar Sharma compares himself to Elon Musk after Paytm's historic IPO flop
He made these remarks on Thursday at the company town hall which continued for four long hours, according to Bloomberg's sources. The startup founder had reportedly gathered all the employees who had witnessed the company’s stock plummet and encouraged them to look beyond the rough start.
Paytm makes history as India's largest IPO bidding ends with 1.89x oversubscription
As per data from the exchanges, the subscription at the end of Day 3 saw the largest IPO being over 2.79 times oversubscribed by QIBs and 1.66x by retail investors. A total of 9,14,09,844 Paytm shares have been bid for, as opposed to the 4,83,89,422 shares available.
Paytm IPO oversubscribed 1.33 times so far with half a day left
As per data available on the exchange at 1.47 p.m., Paytm IPO has been subscribed 1.33 times so far, with the QIB tranche being 1.88x subscribed. A total of 6,41,16,546 Paytm shares have been bid for as opposed to the 4,83,89,422 shares available. Earlier, on Day 1, Paytm's IPO had secured the highest ever retail percentage subscription for IPOs with retail sizes in excess of Rs 1,000 cr, over the last decade, which was subsequently oversubscribed early on Day 2.
Want Paytm in my portfolio, says valuation guru Aswath Damodaran
Aswath Damodaran, the award-winning Professor of Finance at the Stern School of Business at New York University, recently said in an interview with an Indian news channel that he would place his bets on Paytm. "Paytm has some real potential because I think this is a business which is huge, payment processing and financial services is huge.
Paytm's GMV hit Rs 1,469bn in Q4FY21 - 100% growth in one year
In its DRHP, the company defines GMV as "the rupee value of total payments made to merchants through transactions on our app, through Paytm Payment Instruments or through our payment solutions, over a period. It excludes any consumer-to-consumer payment service such as money transfers".
Paytm files for mega Rs 16,600 cr IPO with SEBI
In the draft red herring prospectus, the company said that it will issue fresh shares worth Rs 8,300 crore and the existing shareholdrs will sell stake worth up to Rs 8,300 crore through offers for sale (OFS). Paytm's founder Vijay Shekhar Sharma, Alibaba.com Singapore, Antfin (Netherlands), Elevation Capital, Saif Partners, SVF Panther (Cayman) and BH International Holdings will sell stake in the OFS.
Paytm is building real revenue while competitors are bleeding double the money for cashbacks: Bernstein
Paytm is building 'real revenue' while its competitors continue to spend heavily on cashbacks and incentives to acquire users: The Bernstein report said, "PhonePe and Google Pay continue investing in providing customer incentives and spend on marketing at 2.5-3.0x revenue (FY20 MCA filings). Paytm has streamlined its marketing spending -- from 1.2x in FY17, to 0.4x in FY20, and now stands at 0.2x of revenue.
Byju's most valuable startup in India, 11th in the world
As per CB Insights data, as of June 2021, Byju's is the 11th most valuable startup in the world. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.
Paytm to break even in 12-18 months: Bernstein
According to reports, Paytm is aiming to raise about $3 billion in an initial public offering (IPO) late this year, which could be the country's largest debut ever. The startup, backed by investors including Berkshire Hathway, Softbank and Ant Group, plans to list in India in November around Diwali. Paytm, formally called One 97 Communications, is targeting a valuation of around $25 billion to $30 billion, as per reports.
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