Paytm Attracts Abu Dhabi Wealth Fund, Texas Teachers to Mega IPO - Bloomberg
The Abu Dhabi Investment Authority and University of Cambridge are among dozens of successful bidders for the 82.5 billion rupees ($1.1 billion) of stock that digital payments company Paytm is selling to anchor investors in its initial public offering.
BlackRock Inc., Canada Pension Plan Investment Board and Singapore’s sovereign wealth fund got some of the largest allocations, Paytm said in an exchange filing Wednesday. The Teacher Retirement System of Texas, City of New York Group Trust and University of Texas System are buying shares in Paytm’s anchor tranche as well.
Paytm received orders for more than ten times the amount of stock on offer, people with knowledge of the matter said earlier. It is also selling shares to funds managed by Abrdn Plc, Citadel, Fidelity, Janus Henderson Group Plc, Marshall Wace, Mirae Asset, Nomura Holdings Inc., Schroders Plc and UBS Group AG, according to Wednesday’s filing.
The company, formally known as One97 Communications Ltd., is selling nearly half of its 183 billion-rupee IPO to the anchor investors. The anchor book is India’s largest ever so far -- in keeping with Paytm’s status as the country’s biggest public market debut so far.
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