Homemarket News

Paytm gears up for pre-Diwali IPO launch; FIIs show interest

market | IST

Paytm gears up for pre-Diwali IPO launch; FIIs show interest


The much-awaited Paytm IPO is gearing up for a pre-Diwali launch, and sources tell CNBC-TV18 that given the interest from institutional investors, the company may be valued at near $20-22 billion.

Digital payments and financial firm Paytm, is gearing up for a pre-Diwali initial public offering (IPO) launch. CNBC-TV18 has learnt that the demand from foreign investors is building up and the IPO valuation is in the range of about $20 to 22 billion.
It is noteworthy that Paytm has filed a DRHP for an IPO of up to Rs 16,600 crore. The total issue size of Rs 16,600 crore consists of a fresh issue and an offer for sale (OFS) of up to Rs 8,300 crore each.
Read Here :
CNBC-TV18 is gathering from sources that FIIs and especially several large sovereign wealth funds are expressing the most demand at this range. The company is expecting the SEBI approval to come in and this week so they are in time for a pre-Diwali launch.
CNBC-TV18 reached out to Paytm on these valuation developments, and they declined to comment saying that they are in a silent period currently.
Large investors ANT, Alibaba, Softbank, Berkshire Hathaway, Elevation Capital and Paytm Founder Vijay Shekhar Sharma are set to sell shares through the OFS, as per the document. The DRHP also mentions RNT Associates of Mr Ratan Tata as a selling shareholder.
next story

Market Movers