New Delhi: Paytm IPO initial details are out! Paytm IPO size will be Rs 16,600 crore and the Draft Prospectus(DRHP) of its initial public offering is likely to be released this week, according to Live Mint report. Owner of Brand Paytm One97 Communications Ltd’s shareholders have approved the Paytm IPO worth Rs 16,600 crore.
Paytm IPO Date, Price, Size, Valuation
- Paytm IPO will have a fresh issue of shares up to Rs 12,000 crore, as per media reports.
- The remaining Rs 4,600 crore will be through secondary raise and this will take the Paytm IPO worth to Rs 16,600 crore, media reports said.
- Paytm IPO is likely to hit the market by the November-end, the Live Mint report says.
- Meanwhile, shareholders also gave approval for declassifying Paytm founder and CEO Vijay Shekhar Sharma as promoter, Moneycontrol report says.
- Coal India’s initial share sale is still the biggest IPO so far in India as it fetched 15,000 crore, the Moneycontrol report says.
- Meanwhile, Paytm’s parent One97 Communications is planning to raise Rs 2,000 crore ahead of IPO. The will be done offering shares to institutional investors, as per a Times of India report.
- Among the Paytm’s shareholders, Alibaba Group holds 29.7 per cent stake, SoftBank Vision Fund has 19.6 per cent stake, SAIF Partners have 18.6 per cent stake, Vijay Sharma owns 14.7 per cent, Berkshire Hathaway has 2.8 per cent stake, and others have 14.7 per cent stake, the Times of India report says.
India’s leading digital financial services platform Paytm is building revenue and also has been cutting down on its losses year after year. The company also comes with a big advantage in its Super App UPI play where it is one of the top players. However, unlike its competitors PhonePe and Google Pay, Paytm is not dependent on cashbacks and incentives to drive growth. While the
competitors are bleeding money, Paytm is driving real value with revenue and is ready to breakeven soon, IANS reported quoting a Bernstein report.
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