Paytm share allocation at Rs 2,150 apiece likely on Tue after SEBI approval

Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI’s approval which is expected to come on Monday, sources aware of the development said.

Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.

“Paytm share allocation is likely to take place on Tuesday after approval of SEBI. The approval from SEBI is expected to come on Monday,” one of the sources said.

Based on the bid received for Paytm’s Rs 18,300 crore initial public offer (IPO), the company will list an enterprise valuation of Rs 1,49,428 crore or slightly over USD 20 billion at an exchange rate of 74.35.