The company, formally known as One97 Communications, which had already raised $1.1 billion from anchor investors, has received $2.64 billion worth of bids for the remaining 48.4 million shares on offer, or 1.89 times, according to stock exchange data published on Wednesday. "It was expected that Paytm would price the deal at the top-end as the company's anchor-allotment was oversubscribed by more than 10-times," said Shifara Samsudeen, Equity Analyst at LightStream Research, who publishes on research platform Smartkarma. The success of the IPO is seen as a precursor for more big-ticket public floats to come in the next year. It had flagged a price range of 2,080-2,150 rupees per share for the deal. Paytm, a payments company that markets an all-in-one app, priced its 85.1 million-share issue at 2,150 rupees ($28.9) each.
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