SEBI approves Paytm’s Rs 16,600 crore IPO, more likely to be listed in November: Sources




Paytm’s dad or mum firm One97 Communications has obtained Securities and Trade Board (SEBI) approval for an preliminary public providing (IPO) of Rs 16,600 crore.

Sources conscious of this improvement mentioned that the corporate might launch this provide in November. The IPO is taken into account to be the biggest ever within the nation, exceeding the Rs 15,000 crore raised by state-owned Coal India in 2010. The IPO consists of a recent difficulty of fairness shares value Rs 8,300 crore and a proposal on the market (OFS). Current shareholders of Rs 8,300 crore.

In accordance with the draft pink herring prospectus (DRHP), shareholders of Ant Monetary, Alibaba, Elevation Capital V, SAIF III Mauritius, SVF Panther (Cayman) and BH Worldwide Holdings need to promote a part of their shares via OFS. Paytm had filed its DRHP with SEBI in July. Sources mentioned not a lot has modified because the preliminary DRHP.

The corporate proposes to make use of Rs 4,300 crore to develop and strengthen the Paytm ecosystem, together with acquisition of shoppers and retailers and giving them larger entry to know-how and monetary companies. PTI knowledgeable of.

Paytm plans to earmark Rs 2,000 crore for enterprise initiatives, acquisitions and strategic partnerships and as much as 25 per cent of the entire funds raised via IPOs for common company functions. PTI,

Paytm is India’s main digital ecosystem for shoppers and retailers. The corporate’s two-way (client and service provider) ecosystem allows commerce, and entry to monetary companies by leveraging know-how to enhance the lives of shoppers and assist retailers develop their companies.

Paytm was launched in 2009 as a mobile-first digital cost platform to allow cashless funds. The corporate’s monetary companies enterprise, i.e., cellular banking, lending, insurance coverage, wealth administration companies have been just lately launched between 2019 and 2021 and contribute a small proportion to its income.

Its income from operations in FY 2011 stood at Rs 2,800 crore from customers who did 114 million annual transactions and facilitated 7.4 billion transactions, together with transactions made to retailers via its ecosystem.

Pricey reader,

Enterprise Normal has at all times labored onerous to offer up to date info and commentary on occasions which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on learn how to enhance our providing has additional strengthened our resolve and dedication to those beliefs. Even throughout these troublesome occasions arising out of COVID-19, we’re dedicated to conserving you knowledgeable and up to date with related information, authoritative views and sharp feedback on related related points.
Nevertheless, we now have a request.

As we grapple with the financial affect of the pandemic, we’d like your help much more in order that we are able to proceed to offer you extra high quality content material. Our subscription mannequin has obtained an encouraging response from lots of you who’ve subscribed to our on-line content material. Subscribing to extra of our on-line content material can solely assist us obtain our targets of offering you with higher and extra related content material. We imagine in impartial, unbiased and credible journalism. Your help via extra subscriptions may also help us apply the journalism we’re dedicated to.

help high quality journalism and Subscribe to Enterprise Normal,

digital editor



Supply hyperlink