New Delhi: The draft prospectus for Paytm IPO is likely to be filed in the next week. The parent company of Paytm, One97 Communications Ltd is likely to file the initial public offering
(IPO) aims to raise USD 2.3 Billion. However, Paytm has declined to comment on the matter, according to a Reuters report.
- There will be sale of new Paytm stock and secondary offering of shares, the report says.
- The Paytm shares will be offered at an expected valuation of USD 24 Billion and USD 25 Billion. There will be an option to raise the amount, the report reveals.
- There is a meeting of Paytm’s extraordinary general meeting (EGM) of shareholders on July 12. The draft prospectus for Paytm IPO is likely to be filed on that very day, the report said.
- Meanwhile, the proposed Paytm IPO worth USD 2.3 Billion is likely to make it the third-largest public listing in dollar in India.
- The biggest two are Coal India in 2010 and Reliance Power in 2008, the report said.
- Paytm says that Japan’s Soft Bank and China’s Alibaba are investors in the company.
- Earlier PTI reported that Digital payments major Paytm board had approved a proposal to raise over Rs 22,000 crore from IPO.
The IPO market was set for a big days as over a dozen financial services players, including fintechs, are set to mop up over Rs 55,000 crore this fiscal from the market, investment bankers
were quoted as saying by news agency PTI.
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