0

0

0

0

0

0

0

0

0

market | IST

Paytm IPO likely to open on November 8, looks at $20 bn valuation

Mini

Paytm is set to raise its IPO issue size to Rs 18,300 crore from the earlier Rs 16,600 crore to meet increased investor demand, sources told CNBC-TV18. The issue is likely to open on November 8

Digital payments and financial services firm Paytm is likely to launch its initial public offering (IPO) on November 8 and is targeting a price band of Rs 2080-Rs 2150, as per sources.
The company is looking at a valuation of $20 billion.
Paytm is set to raise its IPO issue size to Rs 18,300 crore from the earlier Rs 16,600 crore to meet increased investor demand, sources told CNBC-TV18.
As a result, the new total IPO size will include primary size of Rs 8,300 crore (unchanged) and secondary of Rs 10,000 crore.
Paytm has recently received markets regulator Sebi's approval to launch an initial public offering. This will be the biggest IPO in India to date in terms of size.
Roughly half of the offer for sale is going to be by Ant Financial, which holds close to 30 percent stake in the company and has to bring it under 25 percent to comply with SEBI’s rules for professionally managed companies. The remaining OFS will see participation by Alibaba, Elevation Capital, Softbank and other existing shareholders, sources said.
Also Read:
The company proposes to use Rs 4,300 crore for growing and strengthening the Paytm ecosystem, including through the acquisition of consumers and merchants and providing them with greater access to technology and financial services.
Paytm plans to earmark Rs 2,000 crore for business initiatives, acquisitions and strategic partnerships and up to 25 per cent of the total fundraised through the IPO for general corporate purposes