New Delhi: Paytm’s initial public offering (IPO) is likely to be filed in the next week. The company is likely to file the initial public offering (IPO) aims to raise USD 2.3 Billion. However, Paytm has declined to comment on the matter, according to Reuters.
The proposal, if approved, will make it one of the largest IPOs in dollar terms after Coal India (about $3.3 billion) and Reliance Power (around $2.4 billion).
The DRHP is currently being finalised by compliance teams at Paytm before it is filed with Sebi later this month, as per sources.
Here are some key points:
- There will be sale of new Paytm stock and secondary offering of shares, the report says.
- There is a meeting of Paytm’s extraordinary general meeting (EGM) of shareholders on July 12. The draft prospectus for Paytm IPO is likely to be filed on that very day, the report said.
- Meanwhile, the proposed Paytm IPO worth USD 2.3 Billion is likely to make it the third-largest public listing in dollar in India.
- The biggest two are Coal India in 2010 and Reliance Power in 2008, the report said.
- Paytm says that Japan’s Soft Bank and China’s Alibaba are investors in the company.
- Earlier PTI reported that Digital payments major Paytm board had approved a proposal to raise over Rs 22,000 crore from IPO.
