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Market regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">SEBI</keyword> has issued notice to fintech firm <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, which owns the <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords">Paytm</keyword> brand, for the employee <keyword id="20410988" type="General" weightage="20" keywordseo="stock-options" source="keywords">stock options</keyword> (<keyword id="20043663" type="General" weightage="20" keywordseo="ESOPs" source="keywords">ESOPs</keyword>) allocated to MD and CEO <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, according to the company filing on Monday. In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the market regulator to make required representations. According to Paytm's financial year 2024 annual result filing, it had issued 2.1 crore employee stock options (ESOP) to Sharma in the financial year 2022. SEBI had issued a show cause notice to Paytm on ESOP issued to Sharma. "This is not a new development, as the Company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024. The Company is in regular communication with the <keyword id="19970553" type="General" weightage="20" keywordseo="securities-exchange-board-of-india" source="keywords">Securities Exchange Board of India</keyword> (SEBI) and making necessary representations regarding this matter," Paytm said in response to a stock exchange query. The disclosure made on May 22 and July 19 said that Paytm has submitted its preliminary response and is in the process of seeking further information from the regulator in this regard. "Based on an independent legal opinion obtained by the management, it believes that the Company is compliant with the relevant regulations. Accordingly, there is no impact on the financial results for the year ended March 31, 2024," the filing said. Shares of One97 Communications Ltd, which owns the Paytm brand, on Monday dropped over 4% amid reports that SEBI has issued show-cause notices to Vijay Shekhar Sharma and board members who served during its IPO in November 2021 for alleged misrepresentation of facts. The stock tanked 4.41 % to settle at Rs 530.05 apiece on the BSE. During the day, it plunged 8.88 % to Rs 505.25. On the NSE, shares of the firm dropped 4.47 % to Rs 530. Intra-day, the stock tumbled 8.88 % to Rs 505.55. The company's market valuation declined by Rs 1,534.23 crore to Rs 33,731.56 crore. Earlier in the day, BSE sought clarification from One 97 Communications Ltd with reference to news that Vijay Shekhar Sharma, Paytm directors face SEBI show-cause notices over initial public offering (IPO) breaches, particularly on ESOPs allotted to MD and CEO Vijay Shekhar Sharma. In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the markets regulator to make required representations.

SEBI issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made

<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> has denied reports that it is in talks to acquire a stake in <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>.</li><li>One97 Communications, the parent company of Paytm has also denied reports of a stake sale.</li><li>Recent media reports claimed that Adani Group is looking to enter the UPI and e-commerce segments.</li></ul> Gautam Adani-led conglomerate Adani Group has denied reports that it is in talks with Vijay Shekhar Sharma-led One97 Communications, the parent company of Paytm, for acquiring a stake in the fintech company. Amid reports that the Adani Group is looking to enter the <a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">UPI and e-commerce</a> segments, a <a href="https://timesofindia.indiatimes.com/business/india-business/adani-in-talks-with-vijay-shekhar-sharma-to-acquire-stake-in-paytm/articleshow/110509772.cms">report</a> by the Times of India claimed that the company is in talks with One97 Communications for a stake acquisition, citing sources familiar with the matter. The report claimed that Paytm founder and CEO <keyword id="20004114" type="General" weightage="20" keywordseo="Vijay-Shekhar-Sharma" source="keywords">Vijay Shekhar Sharma</keyword> had met <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> at its Ahmedabad headquarters on Tuesday, May 28, regarding the deal. The report led to immense speculations across the business and political circles as expectations around Adani Group taking on the likes of JioFinance and Google Pay grew ripe. The share price of One97 Communications climbed 5%, hitting the upper circuit. The company’s share price reached INR 359.55. The opposition party Congress’s leader Jairam Ramesh launched a scathing attack on the Prime Minister, posting on X "Remember when Paytm was referred to as Pay to Modi? Prophetic words! Atmanirbhar to Parmatmanirbhar to Adaninirbhar!" <cmsannotation type="cmsannotation" annotationid="Adani Group issues a denial" comment="subhead" text="Adani Group issues a denial">Adani Group issues a denial</cmsannotation> The Adani Group has now come out and denied the media report. “We categorically deny this baseless speculation. It is totally false and untrue,” the Adani Group said in a statement. <cmsannotation type="cmsannotation" annotationid="One97 Communications also denies talks" comment="subhead" text="One97 Communications also denies talks">One97 Communications also denies talks</cmsannotation> In an official statement, One97 Communications denied reports of its talks with Adani Group. "We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," One97 Communications said in an official filing. <cmsannotation type="cmsannotation" annotationid="Adani Group looking to enter the UPI and e-commerce segments" comment="subhead" text="Adani Group looking to enter the UPI and e-commerce segments">Adani Group looking to enter the UPI and e-commerce segments</cmsannotation> Earlier, media reports claimed that the Adani Group is looking to enter the UPI and e-commerce segments in India. According to the reports, the Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. The group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). A deal with Paytm, which has several years of experience in both e-commerce and payments, could have helped the Adani Group establish itself in these segments and take on existing players such as Reliance Industries, Google, PhonePe and more. Paytm has been facing several regulatory challenges in recent years, with the Reserve Bank of India (RBI) ordering Paytm Payments Bank Ltd to stop the bulk of its activities earlier this year. The action led to a whopping 50% drop in One97 Communications share price within two weeks in February. SEE ALSO: <h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/tech/mobile/news/poco-f6-with-snapdraon-8s-gen-3-chipset-launched-starting-at-29999/articleshow/110367623.cms">Poco F6 with Snapdraon 8s Gen 3 chipset launched starting at ₹29,999</a></h3>

Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

Here’s what analysts have to say about India’s biggest IPO ever from Paytm

New Delhi, <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, one of the most recognised faces of India's fintech industry, has seen a fair share of controversies. Sharma launched <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> - an acronym for 'pay through mobile' - offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page ads in top newspapers with Prime Minister Narendra Modi's photo, calling demonetisation the "boldest decision in the financial history of independent India". With fewer currency notes in circulation, Paytm was on a roll. Sharma made a splash in 2018 by getting USD 300 million investment in Paytm from <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway. *Controversies* Paytm was mired in controversies with its Chinese connection following huge investments from Alibaba Group. The Chinese internet firm became the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offer. Alibaba group firm Antfin sold around 5 per cent shares to lower its stake below 25 per cent to comply with regulatory requirements at the time of IPO. To shed its Chinese-owned entity image, Paytm in August 2023 announced that founder and CEO Vijay Shekhar Sharma would acquire a 10.3 stake in Antfin through his overseas entity Resilient Asset Management BV which will make him the largest stakeholder in the company with 19.42 per cent stake. In return, Resilient issued a debt instrument --optionally convertible debentures, to Antfin thereby maintaining the economic interest of Alibaba group firm. With this transaction, Antfin's direct stake in Paytm was reduced to 13.5 per cent. Antfin further sold 3.6 per cent in Paytm to bring its shareholding to less than 10 per cent and at present holds 9.89 per cent of the fintech firm. The company's market cap has eroded drastically since the time of its listing. The company's IPO opened on November 8, 2021, in the price band of Rs 2,080-2,150 per share. The Paytm IPO made history with over Rs 18,300 crore share sale 'making it the largest public issue in India's corporate history. But the company's stock made a weak debut in the market on November 18 and hit a lower circuit after recording about 20 per cent decline during trading hours. It finally closed at Rs 1,560, down by about 27 per cent, compared to its issue price of Rs 2,150. Since then, Paytm shares have not been able to cross even half the mark of the issue price. After the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s January 31 move, One97 Communications shares tanked around 40 per cent to close at Rs 487.05 on BSE on Friday. Billionaire businessman <keyword id="19952201" type="General" weightage="20" keywordseo="warren-buffet" source="keywords">Warren Buffet</keyword>'s Berkshire Hathaway sold its stake in Paytm at a loss of 31 per cent per share in November 2023. Berkshire Hathaway had invested in Paytm for about Rs 1279 per share but sold it for Rs 877.29 apiece. At present, Cayman Island-registered SAIF III Mauritius Company Limited is the single largest direct shareholder in Paytm with a 10.83 stake followed by Sharma's Resilient Asset Management BV with a 10.29 per cent stake. SAIF Partners is led by Chinese-origin entrepreneurs with Andrew Y Yan as its managing partner. *Paytm run-ins with RBI* RBI on June 19, 2018, prohibited Paytm Payments Bank from opening any new account and wallet with effect from June 20, 2018, on account of supervisory concerns, which were lifted by RBI on December 27, 2018, with effect from December 31, 2018. The Office of Banking Ombudsman issued a show-cause notice dated March 6, 2019, for Paytm Payments Bank's failure to monitor a certain account maintained with it which had shown a sudden increase in the velocity of daily transactions involving immediate transfer to other banks. The actions were found to be in the violation of RBI's provisions on KYC. RBI rejected Paytm Payments Services Ltd's (PPSL) application to operate as a payment aggregator on November 25, 2022. The banking regulator asked the firm to re-submit applications within 120 days after it gets government approval on investment made by OCL into PPSL as per FDI guidelines. The regulator asked PPSL to continue operations with the condition that no new merchants should be onboard. After completion of 120 days, RBI again granted PPSL an extension but without removing the bar on new merchant onboarding. RBI issued a show cause notice to PPBL on July 29, 2021 for submitting false information to RBI confirming completion of the transfer of the Bharat Bill Payment Operating Unit ("BBPOU") by OCL to PPBL on August 28, 2017. The actual transfer of the BBPOU business by the Company to PPBL was completed only by March 31, 2021. RBI on October 1, 2021, imposed a penalty amounting to Rs 1 crore on PPBL for a contravention of the Payment and Settlement Systems Act, 2007. RBI imposed a penalty of Rs 5.93 crore on PPBL on October 10, 2023, after it found several non-compliances including banks failure to identify beneficial owners in respect of entities on-boarded by it for providing payout services. RBI found that PPBL did not monitor payout transactions and carry out risk profiling of entities availing payout services, breached the regulatory ceiling of end of the day balance in certain customer advance accounts availing payout services. The banking regulator found that PPBL reported a cyber security incident with delay and failed to implement device binding control measures related to 'SMS delivery receipt check'. PPBL video-based customer identification process infrastructure failed to prevent connections from IP addresses outside India.

Vijay Shekhar Sharma: The controversies of the architect of fintech

Here’s what analysts have to say about India’s biggest IPO by Paytm

<ul><li>Paytm is reportedly seeking a valuation of over $20 billion, however advisors have recommended it to go for a lower valuation.</li><li>Sources at Paytm claim that the company decided to skip with the pre-IPO round in order to adhere to the timeline it set for itself.</li><li>Paytm is planning to raise ₹16,600 crore through this IPO, half of which will be through fresh issues.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — has reportedly decided to skip its pre-initial public offering (IPO) sale over valuation differences. The company is seeking a valuation of over $20 billion based on the feedback of its initial investors. However, advisors have recommended it to go for a lower valuation. The development was first <a href="https://www.bloomberg.com/news/articles/2021-10-21/paytm-mulls-scrapping-pre-ipo-sale-plan-on-valuation-differences" data-type="tilCustomLink">reported</a> by Bloomberg. A source aware of the development told Business Insider that Paytm has decided to do away with the pre-IPO round in order to adhere to the timeline it set for itself. Besides this, the company source highlighted that they are not aware of any valuation difference between the investors and Paytm’s management. Meanwhile, the Bloomberg report suggests that Paytm may still go for a pre-IPO sale at a lower valuation. Business Insider India has reached out to Paytm seeking more detail about the report and cancellation of their pre-IPO sale. Previously a Bloomberg <a href="https://www.bloomberg.com/news/articles/2021-07-12/paytm-said-to-consider-270-million-share-sale-in-pre-ipo-round">report</a> had highlighted that Paytm is planning to raise $270 million (₹2,028 crore) from its pre-IPO round. Pre-IPO is an option for companies to raise capital from private investors before the public issues. It’s not a mandatory requirement and companies can choose to opt for it based on their requirements. Paytm is planning to raise <a href="https://www.businessinsider.in/business/news/paytm-has-filed-for-2-2-billion-ipo/articleshow/84465551.cms">₹16,600 crore ($2.2 billion) </a>through this IPO. Half of this capital would be raised as a fresh issue and the remaining will be a secondary issue, giving partial exits to Paytm’s investors. This will be India’s biggest IPO so far, surpassing Coal India’s, which raised ₹15,000 crore in October 2010. Securities and Exchange Board of India (SEBI) is <a href="https://www.businessinsider.in/stock-market/news/sebi-approves-fino-payments-banks-1300-crore-ipo-paytm-next-in-line/articleshow/86755408.cms">yet to approve the IPO</a>. Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks. The company is currently valued at $16 billion, after <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-opens-next-chapter-at-paytm-as-it-raises-1-billion-from-t-rowe-softbank-and-others/articleshow/72217033.cms">raising </a>$1 billion in November 2019 from T Rowe Price, Ant Group and Softbank Vision Fund. According to several media reports, Paytm is expected to be valued somewhere between $25 billion to $30 billion post issue SEE ALSO <a href="https://www.businessinsider.in/india/news/the-depth-of-indias-vaccination-drive-gujarat-tops-the-list-up-and-bihar-yet-to-vaccinate-a-third-of-their-population/articleshow/87186515.cms" data-type="tilCustomLink">The depth of India’s vaccination drive — Gujarat tops the list, UP and Bihar yet to vaccinate a third of their population</a> <a href="https://www.businessinsider.in/business/corporates/news/reliances-oil-to-chemicals-business-seems-to-be-in-the-right-spot-to-leverage-chinas-climate-crackdown/articleshow/87152945.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-cements-its-lead-over-airtel-in-both-total-as-well-as-active-subscribers/articleshow/87156675.cms">Reliance Jio cements its lead over Airtel in both total as well as active subscribers</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a>

Paytm may skip its pre-IPO sale as advisors reportedly recommend lower valuation

<ul></ul><ul><li><keyword id="5325646" type="PERSON" weightage="20" keywordseo="Ashok-Kumar-Saxena">Ashok Kumar Saxena</keyword>, who served as a director in <keyword id="2205155" type="PERSON" weightage="20" keywordseo="One-97-Communication">One 97 Communication</keyword> between 2000-2004, alleged that he had invested in the company for a 55% shareholding. </li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> in its submission to police confirmed that such a ‘letter of intent’ was signed, but it never materialised into a ‘definitive agreement’ as Saxena ‘lost interest’. </li><li>The digital payments giant has also reportedly claimed that allegations against Paytm are attempts to harass the company. </li></ul>Ashok Kumar Saxena, a former director in Paytm’s parent company One 97 Communications, is now urging India’s market regulator to stall the digital payments giant’s $2.2 billion initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>). Saxena alleges that he is the co-founder of One 97 Communications and had invested about $27,500 in the company about two decades ago. However, the company never transferred his 55% shareholdings to him, as per Saxena. At the centre of the argument is a one-page document signed by Saxena and Paytm founder and chief executive Vijay Shekhar Sharma in 2001. The document reportedly highlights that Saxena would get a 55% equity stake in Paytm's parent company One 97 Communications. The remaining 45% equity shares would be owned by Sharma. As per a media report, the former director of the company had reached out to market regulator Securities and Exchange Board of India (SEBI). According to a media report, Saxena had also reached out to Delhi police to file a complaint against the company, but no case was registered. However, Saxena has now reportedly approached a New Delhi court, urging the judge to direct the local police to register a case on his complaint. The court had ordered the police to respond and the matter will be heard on August 23, as per the media report. Business Insider was not able to reach out to Saxena immediately. The development was first<a href="https://www.reuters.com/business/exclusive-ex-director-seeks-stall-2-bln-paytm-ipo-company-calls-it-harassment-2021-08-12/"> reported</a> by Reuters. Paytm, in a legal document submitted to the Delhi Police, claimed Saxena's allegations against Paytm are attempts to harass the company, as per the Reuters report. The company has listed the dispute under 'criminal proceedings' in its draft red herring prospectus (DRHP) for its IPO. Paytm in the documentation submitted to the Delhi Police, has reportedly agreed that Saxena was one of the first few directors in the company who served between 2000 and 2004. However, a company source has denied that Saxena was the co-founder of One 97 Communications. The document was accessed by Reuters. Business Insider has reached out to Paytm seeking comments. We will be updating the copy if and when we receive a response. The digital payments giant states that Saxena did extend funds to the company, however, he gradually “lost interest”. The company also emphasised that the letter being referred above was merely a “letter of Intent” and not a formal agreement. Paytm has also mentioned this in its legal statement to the police. Saxena had started disassociating himself from the company after the document was signed and stopped attending board meetings, Paytm said in the legal statement. Therefore, the intent never reached a full agreement. Paytm in the legal document also stated that Paytm and Saxena had reached a private understanding and transferred the shares to an Indian firm. Saxena said he had never received any shares and there was no misunderstanding. "The shares and money are one thing, but I also want to be recognised as the co-founder," Saxena told Reuters. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms" data-type="tilCustomLink">Travel app ixigo files for a ₹1,600 crore IPO</a> <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a>

Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue

<ul><li>The company intends to raise ₹16,600 crore from this issue.</li><li>Half of this amount would be raised through fresh issues and the rest will be through sale of secondary shares.</li><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> has reportedly decided to skip its IPO sale over valuation differences, as per a Bloomberg report.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — has reportedly received a green light from the Securities and Exchange Board of India (SEBI) to carry out its initial public offering (IPO). The company intends to raise ₹16,600 crore from this issue. Half of this amount would be raised through fresh issues and the rest will be through sale of secondary shares belonging to Paytm’s stakeholders. The company is planning for a mid-November listing, according to a Moneycontrol <a href="https://www.moneycontrol.com/news/business/startup/paytm-gets-sebis-nod-for-rs-16600-crore-ipo-7600921.html">report</a>. This will be India’s biggest IPO so far, surpassing Coal India’s, which raised ₹15,000 crore in October 2010. Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks. The company is currently valued at $16 billion, after <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-opens-next-chapter-at-paytm-as-it-raises-1-billion-from-t-rowe-softbank-and-others/articleshow/72217033.cms">raising </a>$1 billion in November 2019 from T Rowe Price, Ant Group and Softbank Vision Fund. According to several media reports, Paytm is expected to be valued somewhere between $25 billion to $30 billion post issue. Paytm has reportedly decided to skip its IPO sale over valuation differences, as per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2021-10-21/paytm-mulls-scrapping-pre-ipo-sale-plan-on-valuation-differences">report</a>. A source aware of the development told Business Insider that Paytm has decided to do away with the pre-IPO round in order to adhere to the timeline it set for itself. Besides this, the company source highlighted that they are not aware of any valuation difference between the investors and Paytm’s management. SEE ALSO <a href="https://www.businessinsider.in/international/news/hm-is-partnering-with-a-building-materials-company-to-achieve-its-sustainability-goals-heres-a-look-at-how-they-work-together-/articleshow/87193030.cms">H&amp;M is partnering with a building materials company to achieve its sustainability goals. Here's a look at how they work together.</a> <a href="https://www.businessinsider.in/stock-market/news/sp-500-hits-record-high-in-7th-straight-winning-session-amid-strong-earnings/articleshow/87194812.cms">S&amp;P 500 hits record high in 7th straight winning session amid strong earnings</a> <a href="https://www.businessinsider.in/stock-market/news/wework-gains-9-in-long-awaited-trading-debut-2-years-after-failed-ipo-attempt/articleshow/87190772.cms">WeWork gains 13% in long-awaited trading debut 2 years after failed IPO attempt</a>

SEBI approves Paytm’s $2.2 billion IPO, company explores November listing

A total of ₹52,759 crore has been raised by 61 companies through initial public offers till October this fiscal, higher than the funds mopped up through this route in the last financial year, the government told the Lok Sabha on Monday. Out of the 61 companies that hit the markets till October of the current fiscal, 34 entities were Small and Medium Enterprises (SMEs). Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said that a large number of manufacturing and service sector companies are coming up for listing. "IPOs (<keyword id="136443" type="General" weightage="20" keywordseo="initial-public-offerings" source="Orion">Initial Public Offerings</keyword>) are being brought by the companies regularly this year, and the amount raised in the current financial year till the month of October 2021, has surpassed the amount raised in the last financial year," she said. In the last fiscal, 56 companies garnered ₹31,060 crore from IPOs and out of them, 27 were SMEs, as per the <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">Sebi</keyword> data cited by the minister. In a written reply, Sitharaman said that among the 61 IPOs, 35 were below ₹ 100 crore, while four were in the range of ₹100 crore and less than ₹500 crore. As many as 22 IPOs were either equal to ₹ 500 crore or more than ₹500 crore. Among others, 10 companies out of the 61 entities were from the healthcare sector and 6 from "cement/ constructions". To a supplementary question on whether the <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> IPO has caused problems for investors, the minister replied in the negative. First of all, there is an impression that the IPO of One97 Communications has caused problems for investors, but no problems have been caused for them, the minister said. "It (IPO) was subscribed more than what they (company) went for," she pointed out. The IPO of One97 Communications received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available with stock exchanges on November 10. The price band was fixed at ₹2,080-2,150 per share. The ₹18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale. However, the scrip made a weak debut on the stock exchanges on November 18 and had tumbled over 27 per cent during the day from the issue price of ₹2,150. Replying to a question related to strengthening the infrastructure of trading platforms from the point of view of the cyber domain, Sitharaman said many steps have been taken by all the concerned institutions. "There are very many checks and balances and plan B, which are in place as a result of which I feel that measures are taken (in a) timely (manner)... they are also taken by institutions with periodic trial and error kind of method. "I am assured by the Sebi, NSE and <keyword id="35140" type="General" weightage="20" keywordseo="bse" source="Orion">BSE</keyword> that they are taking all kinds of precautions... every time there is a periodic review and anything that has to be strengthened to make sure that it is digitally safeguarded is happening," she said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/byjus-swiggy-and-dream11-the-top-10-startup-deals-of-2021-that-raised-7-7-billion-overall/slidelist/88121451.cms#slideid=88121586">Byju’s, Swiggy and Dream11 — the top 10 startup deals of 2021 that raised $7.7 billion overall</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/whatsapp-announces-incubator-program-selecting-10-firms-to-build-digital-health-solutions-in-india/articleshow/88121979.cms">WhatsApp announces incubator program, selecting 10 firms to build digital health solutions in India</a>

Companies raised ₹52,759 crore from IPOs till October this fiscal, says Nirmala Sitharaman

<ul><li><keyword id="2645087" type="General" weightage="20" keywordseo="rategain" source="Orion">RateGain</keyword> intends to raise ₹1,335 crore through this public issue.</li><li>RateGain is seeking a valuation of $600 million at the upper end of the price band.</li><li>It is a SaaS platform, which solely focuses on the travel and hospitality segment. </li></ul>The initial public offering (IPO) of RateGain Travel Technologies has been subscribed 75% on the second day of its public issue. The issue will open for subscription for the last time today, December 9. The portion reserved for retail investors has been fully subscribed, whereas the portion reserved for qualified institutional investors has not received any bidding so far. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription (times) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.00 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.08 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.98 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.72 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.75 </td></tr></tbody></table> The software-as-a-services (SaaS) platform, which solely focuses on the travel and hospitality segment, intends to raise ₹1,335 crore through this public issue. The capital will be raised through both fresh issue and offer for sale (OFS) by existing shareholders of the company. The company will likely list on the<a href="https://www.businessinsider.in/business/news/rategains-ipo-opens-today-grey-market-premium-at-85/articleshow/88126120.cms"> stock exchange on December 17</a>. The price range of RateGain’s IPO has been set at ₹405-₹425. The minimum lot size is 35 shares, meaning a retail investor would have to shell out ₹14,875 to buy one lot. The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at ₹78 on December 8. RateGain is seeking a valuation of ₹4,537 crore (about $600 million) at the upper end of the price band. Founded in 2004 by Bhanu Chopra, RateGain offers travel and hospitality software solutions. It’s softwares covers an entire set of data points including pricing, rating, ranking, availability, room description, cancellation policy, discounting and packages, among other things. The company has over 1,434 customers — across the hotel, hospitality and online travel agency (OTA) segment — spread across 110 countries. It’s clientele includes Lemon Tree, InterContinental Hotels Group, Kessler Collection, GroupOn and Sabre GLBL. Stock brokerages — including Reliance Securities, Prabhudas Lilladher, Arihant Capital, Aditya Birla Capital — have recommended <a href="https://www.businessinsider.in/business/news/saas-firm-rategains-ipo-opens-tomorrow-should-you-invest/articleshow/88125982.cms">subscribing to the issue</a>. “While there is no listed peer available for a direct comparison to RateGain in the domestic market, its valuations at ~50% discount to unicorns like Zomato and Paytm give comfort on the valuation front. In the new era of internet and AI [artificial intelligence]-based software services, we believe the premium valuation of the company is likely to sustain,” Reliance Securities said in its latest report. A unicorn, in startup parlance, is a firm valued at or over a billion dollars. SEE ALSO <a href="https://www.businessinsider.in/business/news/zoho-freshworks-and-top-indian-saas-companies-have-given-500-entrepreneurs-to-the-indian-startup-ecosystem/articleshow/88145310.cms" data-type="tilCustomLink">Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem</a> <a href="https://www.businessinsider.in/investment/news/humanoid-robot-sophia-is-entering-the-metaverse-with-intelligent-nfts/articleshow/88156738.cms" data-type="tilCustomLink">Humanoid robot Sophia is entering the metaverse with ‘intelligent’ NFTs</a> <a href="https://www.businessinsider.in/policy/news/here-is-what-to-expect-from-the-rbi-monetary-policy-today/slidelist/88150941.cms" data-type="tilCustomLink">Six charts explain what the market expects from the RBI’s monetary policy review</a>

You Searched For "paytm public issue" and got 10 results

SEBI issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made

PTI

Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

Sourabh Jain

Here’s what analysts have to say about India’s biggest IPO ever from Paytm

BI India Bureau

Vijay Shekhar Sharma: The controversies of the architect of fintech

PTI

Here’s what analysts have to say about India’s biggest IPO by Paytm

Business Insider India

Paytm may skip its pre-IPO sale as advisors reportedly recommend lower valuation

Kritti Bhalla

Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue

Kritti Bhalla

SEBI approves Paytm’s $2.2 billion IPO, company explores November listing

Kritti Bhalla

Companies raised ₹52,759 crore from IPOs till October this fiscal, says Nirmala Sitharaman

PTI

It’s the last day to subscribe to RateGain’s IPO — GMP at ₹78

Kritti Bhalla

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