Fintech Startup PayTm to raise $1.1 billion from Anchor Investors
- ByStartupStory | November 2, 2021
The digital services and financial services company, PayTm is expected to raise $1.1 billion from anchor investors ahead of its IPO in mid-November. The investment made in the anchor round of funding would be the biggest ever seen in the Indian market.
Sources reveal that various development, global pension funds, long only funds as well as sovereign wealth funds like Blackrock, CPPIB and GIC have showed keen interest in the anchor investment round of this fin-tech startup.
Founded by Vijay Shekhar Sharma, PayTm is a leading financial service company that offers full-stack payments and financial solutions to customers, offline merchants and online platforms. It is commonly used for making hassle free online money transactions.
The company is aiming to raise Rs. 18,300 crores through the market through fresh issue of shares. It would be listing Rs. 8,300 crores whereas Rs. 10,000 would be offer for sale. The current valuation of PayTm is $19.9 billion which is expected to rise further post the IPO making it the highest values unicorn pre-IPO.
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