Paytm IPO size to possibly go up by minimum Rs. 1000 Cr.
IPO-bound fintech platform Paytm’s record breaking Rs. 16600 crore initial public offering (IPO) is reportedly expected to increase the offer size by Rs. 1000-2000 crore. This increase will most likely happen through the company’s offer for sale (OFS) wherein existing shareholders will sell a portion of their current stake in the company.
Paytm parent company One97 Communication received approval of its IPO filing from market regulator Securities and Exchange Board of India (SEBI) yesterday. The startup’s draft red herring prospectus (DRHP) counted Vijay Shekhar Sharma, SoftBank Group, Ant Group and Elevation Capital as selling shareholders.
It is possible, however, that the company may even increase the value of its fresh issuance of shares. As per an ET report, the decision to increase the offer size has come after receiving the minor SEBI comments. Considering the current interest in IPOs of startups, the company has allegedly decided to increase the offer size.
The listing allegedly aimed to take place in November this year.
Follow Startup Story
Related Posts
