Primary Fundraise Of $1.6B To Be Raised By Paytm Ahead Of IPO; Secondary Fundraise To Follow
- ByStartupStory | June 19, 2021
One97 Communications, parent company of Paytm to raise $1.6 billion, Paytm ahead of IPO in a primary fundraise, with a secondary raise to follow soon, as per a source. The fundraise comes months ahead of homegrown fintech giant Paytm’s IPO, which, at $3 billion, could be the biggest in the country and is likely to take place in November. . Pytm however denied to give any insight or comment on the primary and secondary fundraising. JPMorgan, Goldman Sachs, Morgan Stanley and ICICI Securities have been led in to lead the IPO.
Vijay Shekhar Sharma holds around 9.05 million equity shares which is about 14.61 percent in the company, while the rest is held by institutional investors, employees, ex-employees and other third parties, the shareholder’s notice said. In addition it also read, “In this regard, it has been highlighted in the Founder Letter that the Company has seen multi-fold growth in the past two decades, including in terms of size, number of shareholders, net worth and number of employees including senior management personnel, which may be attributed to the investments made by reputed institutional investors in the Company, that have diversified its operations and activities, directly as well as through its multiple subsidiaries,”
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