Paytm IPO: Stage set for MASSIVE Rs 16600 cr issue DRHP filed! Important details to know about BIG public offer

The digital payment startup — Paytm files DRHP (Draft Red Herring Prospectus) paper with Securities and Exchanges Board of India for Rs 16,600 crore initial public offer on Friday.

Paytm IPO would be termed as India's largest-ever stock market debut since Coal India's IPO in 2010: PTI

The digital payment startup — Paytm files DRHP (Draft Red Herring Prospectus) paper with Securities and Exchanges Board of India for Rs 16,600 crore initial public offer on Friday.

The public issue will comprise a fresh issue of equity shares worth Rs 8,300 crore, while an offer-for-sale (OFS) of shares worth Rs 8,300 crore,

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Morgan Stanley, Goldman Sachs, Axis Capital, ICICI Securities, JP Morgan, and Citigroup Global will be joint global coordinators and book-running lead managers to the issue. While Link Intime India Private will be the registrar to Paytm IPO, as per the DRHP filing to SEBI.

According to the DRHP paper filed, One97 Communications Ltd, which owns a brand Paytm had posted a consolidated net loss of Rs 1696 crore for the year ended March 31, lower than the previous year's Rs 2842 crore loss. While the company’s revenue slipped by 14.6 per cent to Rs 2802 crore.

Paytm IPO would be termed as India's largest-ever stock market debut, after the IPO of the state-owned Coal India in 2010. It will also be second such India’s unicorn startup listing to bourses.

The Noida-based company said in DRHP paper that it would use the proceeds to strengthen its payment ecosystem, including through acquisition of consumers and merchants and providing them with greater access to technology and financial services.

The digital payment startup is backed by Paytm by investors such as Berkshire Hathaway Inc, China's Ant Group, and Japan's SoftBank. While Alibaba.Com Singapore E-Commerce Private held a 7.2 per cent stake Antfin (Netherlands) Holding B.V. held a 29.6 per cent stake in One97 pre-IPO.

Earlier this week on July 12, The shareholders of One97 Communications had approved plans of its ₹16,600 crores public offering which was put to vote at the extraordinary general meeting.

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