Paytm IPO draws modest response from big investors on second day

The Rs 18,300-crore initial public offering (IPO) of One97 Communications drew a modest response from big investors on its second day, with its overall subscription standing at 48 per cent, largely because of a strong response from retail investors.

Data available from the bourses showed that on Tuesday, the IPO from the Paytm parent received bids for 2,34,63,600 shares against 4,83,89,422 shares on offer. Of the 2.34 crore shares that were bid for, retail investors submitted bids for 1,08,16,986 shares or 46 per cent. That portion was subscribed 1.23 times.

Non-institutional investors bid for just 5 per cent of the 1.31 crore shares reserved for them while the portion meant for QIBs showed 1,20,08,328 shares being bid for against 2,63,94,231 reserved for the category, thus showing a subscription of 46 per cent.