Paytm IPO
Patym's Rs 16,600 cr IPO gets SEBI's nod
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) has given approval for Paytm's Rs 16,600 crore initial public offering (IPO), media reports said.
One97 Communications, the parent company of fintech platform Paytm, received the market regulator's nod as the company plans for a mid-November listing.
Sebi’s approval for the Paytm IPO comes when a slew of new-age internet firms have either listed on the stock exchanges or have initiated proceedings to do so.
Apart from Rs 8,300 crore primary share sale, Rs 8,300 crore will be an offer for sale (OFS), allowing existing investors to offload their shares, stated media reports.
This will be India's biggest public issue so far, highlighting the appetite for new-age Internet companies among institutional investors.
Earlier, the record was previously held by Coal India, which raised Rs 15,000 crore more than a decade ago.
One97 was founded by Vijay Shekhar Sharma in 2000.
The company is seeking a valuation of $20-22 billion in the IPO.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
