Paytm Rs. 16600 Cr IPO gets SEBI approval
Fintech startup Paytm’s parent company One97 Communications received approval on its Rs. 16600 crore initial public offering by Securities and Exchange Board of India (SEBI), as per reports.
The company had filed its draft red herring prospectus (DRHP) in July this year.
The fintech company counts in its repertoire of investors T Rowe Price, Discovery Capital, D1 Capital, Ant Financial Netherlands, Alibaba Singapore, three funds of Elevation Capital, SoftBank Vision Fund, and BH International Holdings, among others.
The IPO aims to be India’s biggest public issue in the country till date. The record was previously held by Coal India which raised Rs. 15000 crore upon its initial public offering over a decade ago.
Paytm recently promoted its enterprise functions president Deepankar Sanwalka to the position of director earlier this week.
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