IPO: SEBIs nod to Paytms DRHP; plans to raise Rs 16,600 cr from market
Paytm will be raising Rs 16,600 crore from the market via the offering.
The Securities and Exchange Board of India (SEBI) has has approved Draft Red Herring Prospectus (DRHP) of One97 Communications parent company of Paytm. A source close to development told Zee Business “Sebi has given go ahead to Paytm for launching IPO”.
The company has a plan to raise money around Rs 16,600 crores including Rs 8300 crores of fresh equity and Rs 8300 crore of Offer For Sale. As per the information, the company has large investment of Soft Bank, Warren Buffet and ENT Investment.
The company has more than 2 crores of merchants who does trade on it.
See Zee Business Live TV Streaming Below:
The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing, as per a report by PTI.
Paytm is looking at a valuation of Rs 1.47-1.78 lakh crore. US-based valuation expert Aswath Damodaran, who is a professor specialising in finance at the Stern School of Business at New York University, has valued the unlisted shares of the firm at Rs 2,950 apiece, the report added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.