<p>Indian digital payments company Paytm is set to make its stock market debut on Thursday, after its $2.5 billion (around Rs 18,600 crore) initial public offering (IPO), India's largest, was oversubscribed last week.</p>.<p>Paytm, which counts China's Ant Group and SoftBank among its backers, raised $1.1 billion (over Rs 8,00 crore) from institutional investors and last week received $2.64 billion (over Rs 19,000 core) worth of bids for the remaining shares on offer, or 1.89 times.</p>.<p>The company, headquartered on the outskirts of India's capital New Delhi, has priced its 85.1 million-share issue at the top of the range at Rs 2,150 ($28.92) each. It had flagged a price range of Rs 2,080-Rs 2,150 per share for the deal.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/paytms-rs-186k-cr-ipo-mints-new-millionaires-in-india-1049948.html" target="_blank">Paytm's Rs 18.6K cr IPO mints new millionaires in India</a></strong></p>.<p>Some market analysts said they expected the shares to nudge higher on their debut despite Paytm's expensive valuation.</p>.<p>Engineering graduate Vijay Shekhar Sharma founded Paytm in 2010 as a platform for mobile recharges. The company grew quickly after ride-hailing firm Uber listed it as a quick payment option in India and its use swelled further in late 2016 when New Delhi's shock ban on high-value currency notes boosted digital payments.</p>.<p>Paytm's success has turned Sharma, a school teacher's son, into a billionaire with a net worth of $2.4 billion ( around Rs 17,300 crore) according to Forbes. Its IPO has also minted hundreds of new millionaires in a country where per capita income is below $2,000 (Rs 1.5 lakh approx). ($1 = 74.3550 Indian rupees)</p>.<p><strong>Watch the latest DH Videos here:</strong></p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Indian digital payments company Paytm is set to make its stock market debut on Thursday, after its $2.5 billion (around Rs 18,600 crore) initial public offering (IPO), India's largest, was oversubscribed last week.</p>.<p>Paytm, which counts China's Ant Group and SoftBank among its backers, raised $1.1 billion (over Rs 8,00 crore) from institutional investors and last week received $2.64 billion (over Rs 19,000 core) worth of bids for the remaining shares on offer, or 1.89 times.</p>.<p>The company, headquartered on the outskirts of India's capital New Delhi, has priced its 85.1 million-share issue at the top of the range at Rs 2,150 ($28.92) each. It had flagged a price range of Rs 2,080-Rs 2,150 per share for the deal.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/paytms-rs-186k-cr-ipo-mints-new-millionaires-in-india-1049948.html" target="_blank">Paytm's Rs 18.6K cr IPO mints new millionaires in India</a></strong></p>.<p>Some market analysts said they expected the shares to nudge higher on their debut despite Paytm's expensive valuation.</p>.<p>Engineering graduate Vijay Shekhar Sharma founded Paytm in 2010 as a platform for mobile recharges. The company grew quickly after ride-hailing firm Uber listed it as a quick payment option in India and its use swelled further in late 2016 when New Delhi's shock ban on high-value currency notes boosted digital payments.</p>.<p>Paytm's success has turned Sharma, a school teacher's son, into a billionaire with a net worth of $2.4 billion ( around Rs 17,300 crore) according to Forbes. Its IPO has also minted hundreds of new millionaires in a country where per capita income is below $2,000 (Rs 1.5 lakh approx). ($1 = 74.3550 Indian rupees)</p>.<p><strong>Watch the latest DH Videos here:</strong></p>.<p><strong>Watch the latest DH Videos here:</strong></p>