Digital payments firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on Tuesday after market regulator Sebi’s approval which is expected to come on Monday, sources aware of the development said.

Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.

Based on the bid received for Paytm’s Rs 18,300 crore initial public offer, the company will list an enterprise valuation of Rs 1,49,428 crore or slightly over $ 20 billion at an exchange rate of 74.35.

The country’s biggest IPO was subscribed 1.89 times with institutional buyers, including FIIs flooding the share sale with offers seeking 2.79 times the number of shares reserved for them.