Digital payments and financial services firm Paytm will increase the size of its IPO issue to Rs 18,300 crore, from Rs 16,600 crore previously 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. Registration could take place in November, sources said.
Large investors ANT, Alibaba, Softbank, Elevation Capital are expected to sell shares through the OFS, according to the document. Founder Vijay Shekhar Sharma is expected to sell shares himself. Berkshire Hathaway and RNT Associates of Ratan Tata are also listed as selling shareholders.
Paytm had said it was a foreign-owned company and would continue to be after the IPO.
– To be updated with details
(Edited by : Anshul)
First publication: STI