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Reuters

India’s Paytm’s IPO subscribed 48% as fintech firm heads into last issue day

Indian fintech firm Paytm’s initial public offering (IPO) of up to 183 billion rupees ($2.47 billion) was subscribed 48% on the second day of the issue period, receiving bids for 23.5 million shares, stock exchange data showed on Tuesday. Paytm has put 48.3 million shares for sale in what is expected to be India’s largest stock market listing, surging past miner Coal India’s 150 billion rupees IPO more than a decade ago. Ant Group-backed Paytm said last week it allocated shares worth 82.35 billion rupees to more than 100 institutional investors, including the government of Singapore, BlackRock Global Funds, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority.

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