One97 Communications-owned Paytm will launch its initial public offering for subscription in the coming week. This is the largest-ever public issue in the history of Indian capital markets. Before this, state-run coal mining company Coal India had the biggest IPO of more than Rs 15,000 crore in October 2010.

The three-day IPO will close on November 10. At $2.46 billion ( ₹18,300 crore), Paytm IPO is said to be the biggest in India.

Bidding

The Paytm IPO will open for subscription on Monday. Those interested in bidding will have to do so in the lot of six and its multiples. The minimum investment will be ₹12,480 to get a single lot of the offer, promoted by One97 Communication, the parent company of Paytm.

Price band

The IPO will be available in the price band of ₹2,080- ₹2,150. The allotment will be finalised by November 15 and listing is expected on November 18.

What will be the size of the issue?

The IPO comprises fresh issuance of equity shares worth ₹8,300 crore and ₹10,000 crore from an offer for sale (OFS) by existing shareholders.

The offer will be the biggest in the country after Coal India's IPO in 2010, wherein the state-owned company had garnered ₹15,200 crore.

On Wednesday, Paytm, whose name is shorthand for "pay through mobile", raised ₹8,235 crore from anchor investors. It has signed up BlackRock, CPPIB together with the sovereign wealth funds of Singapore and Abu Dhabi as anchor investors.

Who will be diluting their shares in Paytm?

The company's offering will open on Monday and top investor Ant Financial plans to sell its 27.9% stake in Paytm worth $643 million. Apart from that, Paytm's managing director and CEO Vijay Shekhar Sharma will also offload shares worth up to $53.94 million ( ₹402.65 crore).