te IPO: SEBI's nod to Paytm's DRHP; plans to raise Rs 16,600 cr from market | Zee Business

IPO: SEBI's nod to Paytm's DRHP; plans to raise Rs 16,600 cr from market

Paytm will be raising Rs 16,600 crore from the market via the offering. 

IPO: SEBI's nod to Paytm's DRHP; plans to raise Rs 16,600 cr from market
SEBI's nod to Paytm's DRHP. Image source: Reuters

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.

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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.

Reported By: Tarun Sharma
Updated: Fri, Oct 22, 2021
06:54 pm
New Delhi, ZeeBiz WebDesk
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