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Paytm Ipo is set to open on November 8 and is expected to be valued at $ 20 billion

The digital payments and financial services company Paytm is expected to launch its initial public offering (IPO) on November 8 and is targeting a price range of Rs 2,080 to Rs 2,150, according to the sources.

The company is considering a valuation of $ 20 billion.

Paytm is set to increase the size of its IPO issue to Rs 18,300 crore from Rs 16,600 crore to meet increased investor demand, sources said. CNBC-TV18.

Accordingly, the new total size of the IPO will include a primary size of Rs 8,300 crore (unchanged) and a secondary size of Rs 10,000 crore.

Paytm recently received approval from market regulator Sebi to launch an initial public offering. It will be the largest IPO in India to date in terms of size.

About half of the offer to sell will be made by Ant Financial, which owns nearly 30% of the company’s capital and must reduce it to less than 25% to comply with SEBI’s rules for professionally managed businesses. The remaining OFS will see participation from Alibaba, Elevation Capital, Softbank and other existing shareholders, sources said.

The company proposes to use Rs 4,300 crore to develop and strengthen the Paytm ecosystem, including acquiring consumers and merchants and providing them with better access to technology and financial services.

Paytm plans to spend Rs 2,000 crore on business initiatives, acquisitions and strategic partnerships and up to 25% of total funds raised through IPO for general corporate purposes

(Edited by : Aditi Gautam)

First publication: STI



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