Paytm IPO: The board of directors of Paytm has given in-principle approval to the proposal to bring a big IPO in the October-December quarter. The company expects to raise capital of about Rs 21,000-22,000 crore from this IPO.
The board of digital payment and financial services provider Paytm (Paytm) in principle approved a proposal to raise around Rs 22,000 crore through an initial public offering (IPO) in the October-December quarter this year. According to sources, the company aims that in this IPO, the market value of its entire venture will be above Rs 2 lakh crore.
Paytm’s board of directors has given in-principle approval to the proposal for a major IPO in the October-December quarter. The company expects to raise capital of about Rs 21,000-22,000 crore from this IPO. This will also give existing investors a chance to sell some of their shares. The board of directors of the company met last Friday. When contacted, a Paytm spokesperson declined to comment.
India’s biggest IPO could be
If the company is successful in achieving the target as per its plan, then it can be one of the biggest IPO in the country. Paytm shareholders include Alibaba’s Ant Group (29.71 per cent), SoftBank Vision Fund (19.63 per cent), Saif Partners (18.56 per cent), Vijay Shekhar Sharma (14.67 per cent).
AGH Holding, T Rowe Price and Discovery Capital and Berkshire Hathaway together hold less than 10 per cent stake in the company.
Expected to be worth $25-30 billion
Bloomberg had earlier told in another report that Paytm can raise funds of $ 3 billion through IPO. This will be the biggest IPO ever in the history of India. The report said that Morgan Stanley, Citibank and JP Morgan have been included as investment banks. Prior to the IPO, Paytm expects to be valued at $ 25-30 billion. At present, there is no comment from Paytm regarding this IPO.
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