In-principle Approval From Paytm’s Company Board To Raise Around Rs 22,000 Crore, IPO

• ByStartupStory     |    May 31, 2021

Paytm has received in-principle approval from Paytm’s company’s board, to raise around Rs 22,000 crore through an initial public offer (IPO) during the October-December quarter this year, according to an industry source. Paytm shareholders include Alibaba’s Ant Group (29.71 percent), SoftBank Vision Fund (19.63 percent), Saif Partners (18.56 percent), and Vijay Shekhar Sharma (14.67 percent).

AGH Holding, T Rowe Price, Discovery Capital, and Berkshire Hathaway hold less than 10 percent stake in the company. The board meeting when the Paytm’s Company Board was held on Friday.

Paytm’s company board has given in-principle approval for the mega IPO planned to be launched in October-December quarter. The company expects to raise around Rs 21,000-Rs 22,000 crore from the IPO. This will also give some of the existing investors to offload some of their stake, the source aware of the development told PTI. When contacted, Paytm spokesperson declined to comment.

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