- SoftBank will be selling shares worth ₹1,689 crore or $225 million in
Paytm ’s IPO. - Paytm is seeking a valuation of $19.3- $19.9 billion with this public issue.
- The company’s IPO will open from November 8 to November 10.
This is India’s largest IPO to date, surpassing Coal India’s ₹15,000 crore public issue raised in October 2010.
Paytm intends to raise nearly ₹8,300 crore through fresh issues, while the rest ₹10,000 crore would come as an offer for sale (OFS) from the existing stakeholders in the company.
According to the red herring prospectus (RHP),
Meanwhile, China-based
SoftBank will be selling shares worth ₹1,689 crore ($225 million) in Paytm’s IPO.
Paytm is seeking a valuation of $19.3- $19.9 billion with this IPO. The company was last valued at $16 billion in 2019, after it raised a$4 from several investors. It is currently the highest valued fintech startup in the country.
One97 Communications works in several verticals — digital payments, commerce, lending and insurance. It also owns an ecommerce business Paytm Mall and a payments bank Paytm Payments Bank, which are not a part of the current public issue.
Earlier, it was reported that Paytm had decided to $4over valuation differences. However, Madhur Deora, president and group chief financial officer of Paytm, highlighted that the company decided to skip its pre-IPO round as it is a lengthy process and it wanted to meet the deadline it had set for itself.
The company’s IPO will open from November 8 to November 10, at a price range of ₹2,080 - ₹2,150 per equity share.
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