Tuesday , August 3 2021

Paytm IPO: Company files draft papers for Rs 16,600 crore public offer

paytm ipo
Image Source : INDIA TV

Paytm IPO: Company files draft papers for Rs 16,600 crore public offer 

Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600 crore initial public offering (IPO).

According to the document, the company plans to raise Rs 8,300 crore through fresh equity and another Rs 8,300 crore through offer-for-sale.

The offer-for-sale proposes equity sale by the company’s founder Vijay Shekhar Sharma, Alibaba group and its subsidiary firm Ant Financial, Elevation Capital, Saif Partners, BH International Holdings etc, according to the document.

The draft red herring prospectus (DRHP) does not disclose the share price and the percentage of stake to be diluted by any of the shareholders in the company.

READ MORE: Zomato IPO brought new set of investors, shift in consumer behaviour: Paytm Money CEO

READ MORE: How to protect from KYC fraud and why CKYC is important

Latest Business News

Check Also

IOB asks Union Bank to buy its stake in Malaysian bank

CHENNAI: Indian Overseas Bank (IOB) has asked the Union Bank of India to buy its ...