Paytm raises Rs 8,235 crore from anchor investors

Digital payments and financial services firm Paytm on Wednesday raised Rs 8,235 crore from anchor investors ahead of its initial share sale.

The anchor investor round saw participation from Blackrock, CPPIB, Birla MF, GIC and other blue-chip funds leading to 10 times oversubscription of the shares, as per a stock exchange filing.

Blackrock invested Rs 1,045 crore, Canada Pension Plan Investment Board Rs 938 crore and GIC Rs 533 crore.

The round saw participation from pension funds, superannuation funds as well as sovereign wealth funds like Government of Singapore, CPPIB, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, and University of Cambridge.

The largest dedicated emerging market investors like Standard Life Aberdeen, UBS and RWC have also invested.

With this, Paytm has already secured 45 per cent of its Rs 18,300 crore initial public offer (IPO).

Paytm's anchor round's size alone can be termed as the eighth largest private company IPO in India.

One97 Communications, which operates under the Paytm brand name, has announced the country's biggest initial public offer, opening on November 8, in the price band of Rs 2,080-2,150 per share, implying a valuation of around Rs 1.48 lakh crore.

The Rs 18,300 crore-offer, if successful, will be the biggest in the country after Coal India's IPO back in 2010 wherein the state-owned company had garnered Rs 15,200 crore.

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